515 Riverview Drive, Columbus, OH 43202 (MLS # 225014068)

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PRICE $2,150,000 BEDS 0 BATHS 0 HOME SIZE n/a LOT SIZE 7,406 sqft Request More Info Schedule a Showing

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 lot"”positioning 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.