515 Riverview Drive new Save Request In-Person Tour Request Virtual Tour
Columbus,OH 43202
Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 225014068
Year Built 1965
Annual Tax Amount $38,328
Lot Size 7,405 Sqft
Property Sub-Type Apartment
Property Description
***Multiple offers received, the owners are calling for all offers by EOD Monday 5/5, please leave open through Wednesday at 5PM*** 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.
Location
State OH
County Franklin
Area 0.17
Rooms
Other Rooms None
Dining Room No
Interior
Heating Hot Water
Cooling Other
Equipment No
Laundry No Laundry Rooms
Schools
High Schools Columbus Csd 2503 Fra Co.