700-710 Franklin Avenue, Columbus, OH 43205

Property Description

Fully occupied, 12-unit brick walk-up with 11 detached garage bays in Olde Towne East, minutes from Downtown Columbus. It has undergone significant renovation since 2018, the three-story building offers eleven 2 bed / 2 bath apartments and one 3 bed / 1 bath, with hardwood floors, exposed brick, ceiling fans, and white-cabinet kitchens with stone countertops. Select units add an enclosed sunroom. The property is 100% occupied. In-place rents average $1,870 with a gross monthly income of $22,915. Only 3 of the 11 garage bays are currently leased, which adds a further income opportunity at $150 per bay. With substantial capital improvements, strong in-place cash flow, and additional upside through garage leasing, this property presents an attractive opportunity for investors seeking a stabilized multifamily asset in one of Columbus' most desirable urban neighborhoods.