229 N Sandusky St
- Extensively renovated from the ground up: the building envelope has been methodically addressed over the last several years, including a full tuckpoint of the entire building, a new front and side porch, and a replaced water main with added basement storage. The heavy lifting is done.
- Brand new roof with a transferrable warranty: a complete roof replacement including soffits, fascia, gutters, and gutter guards was completed in 2026, with a transferrable roof and craftsmanship warranty passing to the new owner at closing.
- 6 of 7 units renovated to near-market rent: the majority of units have been modernized over the last two years, delivering a updated unit mix that supports strong tenant retention and market-rate leasing. The one unrenovated unit is occupied by a long-term tenant currently paying at market rate for its condition.
- Immediate cash flow with minimal near-term capital requirements: with the roof, exterior, mechanical, and majority of units addressed, a new owner can focus on collecting rents rather than deploying capital.
- Historic character with a modern operating profile: the 1901 vintage building offers the aesthetic appeal and construction quality of a century-old asset, backed by the operating reliability of a recently renovated one.
- Turnkey asset in a high-demand rental corridor: situated near Ohio Wesleyan University with easy access to Columbus, the property benefits from a deep, diverse renter pool and the structural rental demand that comes with a university-proximate location in one of Ohio's fastest-growing counties.
- 100% Occupancy at Sale- 1 unit currently for rent with high leasing activity.
Property Description
Introducing a prime investment opportunity in the heart of Delaware, OH. This distinguished property features a 3,525 SF building comprising 7 units, offering an ideal scenario for Multifamily/Low-Rise/Garden investors. Built in 1901 and newly renovated in 2025, the property combines historic charm with modern comfort — and the numbers back it up. Currently 100% occupied, this asset has been extensively upgraded, with 6 of 7 units renovated within the last two years and over $90,000 in capital expenditures deployed throughout the property. New ownership steps in with the heavy lifting largely behind them — a well-maintained asset with significant recent investment already in place. Delaware is one of Central Ohio's fastest-growing cities, consistently ranked among the best places to live in the state. With strong population growth, a tight rental market, and its proximity to Columbus, demand for quality housing here isn't slowing down. With desirable R-6 zoning, a fully stabilized rent roll, and a truly turnkey profile, this is the rare opportunity where you can own a performing asset in a high-trajectory market from day one.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $625,000 |
| No. of Units: | 7 |
| Year Built: | 1901 |
| Lot Size: | 0.30 Acres |
| Opportunity Zone: | No |
| Price per unit: | $89,286 |
| Property Website | Click Here |
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