1451 1449 E Columbus Street E, Columbus, OH 43206 (MLS # 226003754)

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PRICE $565,000 BEDS 0 BATHS 0 HOME SIZE n/a LOT SIZE 8,712 sqft Request More Info Schedule a Showing

Investor & House-Hacker Opportunity | Tudor Revival Brick 4-Unit | Driving Park Rare opportunity to acquire a Tudor Revival-style brick 4-unit in Driving Park with a vacant, newly renovated unit ready for immediate occupancy. This property is built for both investors and owner-occupants and is positioned to hit the 1% rule once fully stabilized. The building features four 2-bed / 1-bath units in a classic up/down layout on a large lot. Three of the four units have been improved, with three units currently occupied and one unit vacant and recently completed, ideal for a house-hacker or immediate lease-up. Recent capital improvements include 23 new windows, a rubber roof installed in 2018 (slate portion remains), and designated off-street parking for each unit located behind the property off the alley. Interior upgrades in the renovated units include luxury flooring, updated kitchens and bathrooms, new countertops, and tile finishes in the newly completed vacant unit. A third unit has been partially updated and repaired as needed, offering additional future upside through further cosmetic improvements. Owner pays water. Current rents are Section 8, with three occupied units generating $1,200, $1,125, and $1,050 per month, and annual rent increases currently under review, with expectations of increases to approximately $1,225 or higher once approved. The vacant unit was previously rented through Section 8 and has since been renovated. Total potential gross market rent once fully stabilized is estimated at $5,568/month, offering clear income growth potential. An excellent option for an owner-occupant looking to live in one unit while collecting income from the others, or an investor seeking a partially stabilized asset with renovations largely complete and remaining upside.