$9,000,000
Est. payment /mo
8,712 Sqft Lot
New
1 E High Street London, OH 43140
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Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 226017750
Year Built 1920
Annual Tax Amount $6,300
Lot Size 8,712 Sqft
Lot Dimensions 0.2
Property Sub-Type Mixed Use
Source Columbus and Central Ohio Regional MLS
Property Description
133-unit residential rental portfolio assembled across 34 individual residential and mixed use properties in London, Ohio (Madison County) and Washington Court House, Ohio (Fayette County). The portfolio was acquired and renovated between 2018 and 2022 and is offered as a single bulk acquisition. The portfolio presents a rare opportunity to acquire institutional-scale income at a meaningful basis discount, with a seasoned ownership track record, demonstrated CapEx execution of $2.07M deployed, and substantial embedded upside through rental rate increases and operational optimization. The current mark to market opportunity of approximately 37% ($215 per unit, per month) represents the single largest near-term value creation lever.
Concentrated in two contiguous secondary markets directly benefiting from Columbus
MSA spillover demand, the portfolio offers a buyer a below-replacement-cost basis of
$67,669 per unit, workforce housing cash flow stability, and a clear path to value creation
through systematic lease-up and completion of the in-process renovation program.
Concentrated in two contiguous secondary markets directly benefiting from Columbus
MSA spillover demand, the portfolio offers a buyer a below-replacement-cost basis of
$67,669 per unit, workforce housing cash flow stability, and a clear path to value creation
through systematic lease-up and completion of the in-process renovation program.
Location
State OH
County Madison
Area 0.2
Rooms
Other Rooms None
Dining Room No
Interior
Equipment No
Laundry No Laundry Rooms
Schools
High Schools London Csd 4903 Mad Co.
School District London Csd 4903 Mad Co.
Others
Tax ID 31-02458.000
Listed by Brett A Ludwig Verti Commercial Real Estate L
NEARBY SCHOOL & BUSINESS
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