515 Riverview Drive,Columbus, OH 43202
Columbus, OH 43202
Description
Located in an Opportunity Zone, 515 Riverview Drive offers investors the opportunity to acquire a well-maintained, cash-flowing 24-unit multifamily property in one of Columbus' most desirable rental corridors. Spanning 16,656 square feet, this garden-style community consists entirely of one-bedroom, one-bath units, most of which have been cosmetically updated with modern, durable finishes. The property has benefited from significant recent capital improvements including structural steel repairs, concrete and epoxy work, new electrical service upgrades with dusk-to-dawn lighting, exterior painting, and a freshly sealed and striped parking lotpositioning it for long-term stability with minimal near-term maintenance needs. Currently 96% occupied (23 of 24 units), the property generates an average rent of approximately $830 per unit, with natural upside as rents continue to grow. Additionally, four units are occupied by legacy tenants, presenting an opportunity to further align rents with market rates and reduce loss-to-lease. There is also potential to implement utility sub-metering, allowing a new owner to pass-through water and other utility costs to tenants and further improve operational efficiency.
Details
| MLS # | 225014068 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1965 |
| Days On Site | 76 |
| Listing Provided By | Verti Commercial Real Estate L | Zeke Liston |
Features
| Units | 24 |
|---|---|
| Acreage | 0.17 |
Taxes
| Property | 38328 |
|---|
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Learn More About This Property
| State | OH |
|---|---|
| County | Franklin |
| City | Columbus |
| Zip Code | 43202 |
| School District | COLUMBUS CSD 2503 FRA CO. |