419 N Ohio Ave, Columbus, OH 43203 | Crexi.com
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Opportunity Zone

Multi-family LIHTC Portfolio Columbus, Ohio

Multifamily LIHTC Portfolio | 48 Units | $203k/ unit

Listing Contacts

Active

Asking Price: $9,750,000
Address 

419 N Ohio Ave, Columbus, OH 43203

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Date Added
Apr 29, 2024
Days on Market
0 days
Time Since Last Update
13 hours

Details

Property TypeMultifamily
SubtypeSingle Family Rental Portfolio
Investment TypeStabilized
ClassC
Cap Rate5.77%
Pro-Forma Cap Rate4.64%
Occupancy95%
NOI$562,500
Pro-Forma NOI$451,985
Units48
Price/Unit$203,125

Marketing Description

Large multi-family LIHTC portfolio with several investment strategies.​ This portfolio comprises 21 properties and 48 units scattered in strategic locations throughout Columbus, Ohio.​ With a collective list price of $9,750,000, these tax abated properties through 2027-2028 encompass a diverse range, including sixteen duplexes, a 4-plex, 9-plex and three single family homes.​ The LIHTC can be renewed or left expired to increase income to market rents (see attached future pro forma).​ Positioned in well-established neighborhoods King-Lincoln Bronzeville, Olde Towne East, Southern Orchards, and Weiland Park these prime locations offer proximity to essential amenities and educational institutions.​

The portfolio’s strength lies in its strategic mix of unit types, providing investors with the flexibility to diversify their real estate holdings.​ At a market valuation of $203,000 per unit the properties offer an attractive entry point into the market, aligning with current trends and allowing room for potential appreciation.​ With a total of 48 units, this portfolio is poised to tap into the robust rental market, catering to various tenant demographics.​

Columbus, Ohio, is the fast growing city in the U.​S.​ renowned for its economic growth and urban development, serving as the backdrop for this investment opportunity.​ The portfolio strategically aligns with the city’s upward trajectory, presenting a promising avenue for both seasoned and novice investors.​ Meticulously chosen based on investment potential, historical performance, and future growth prospects, each property within this portfolio contributes to a well-rounded and resilient investment strategy.​ For those seeking a comprehensive real estate investment in Columbus, Ohio, this portfolio of 21 properties stands as a testament to strategic positioning, diversification, and growth potential in one of the nation’s thriving markets.​

Investment Highlights

  • 21 properties

  • 48 units

  • LIHTC

  • Tax abated through 2027-2028

  • 20/21 properties in qualified Opportunity Zones

  • Central location in gentrified areas

  • Eligible for 10% of purchase price state tax credit

  • Close proximity to hospitals, freeways, urban core

  • Value add opportunity to increase rents to over $1.1M

Valuation Calculator

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Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

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Listing Contacts


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