595 E Broad St
- • Fully Renovated Unit Interiors - The property offers a complete set of upgraded units, with every apartment renovated to modern standards. These improvements support premium rent levels, strengthen leasing velocity, and reduce near-term capital expenditure requirements. Investors benefit from stabilized interiors that enhance both tenant retention and long-term asset value.
- • Existing 12-Year Tax Abatement - A favorable 12-year tax abatement, effective beginning in 2023, substantially reduces operating expenses over the hold period. This structure improves cash flow, bolsters debt-service coverage, and provides a competitive advantage over comparable assets without similar incentives. The abatement materially enhances overall investment performance.
- • Location & Strong Market Fundamentals - Columbus exhibits robust net absorption, balancing supply concerns, with vacancy rates stabilizing and rent growth outpacing national averages. This location, given its proximity to both the Broad St Corridor and Parsons Ave Corridor capital improvement plans, further supports stability of location and long-term growth projections.
- • Economic Tailwinds - Transformative investments from Intel, Honda and Anduril Industries are reshaping the regional economy, driving explosive job growth and attracting new residents.
Property Description
This fully renovated multifamily asset offers turnkey stability with modernized units that support premium rents, strong leasing velocity, and minimal near-term capital needs. This asset is unique in that it's historically proven to support multiple business plans to include short term, mid-term and conventional revenue models. A 12-year tax abatement enacted in 2023 sharply reduces operating expenses and enhances cash flow throughout the hold period. This location, given its proximity to both the Broad St Corridor and Parsons Ave Corridor capital improvement plans, further supports stability of location and long-term growth projections.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,000,000 |
| No. of Units: | 18 |
| Year Built: | 1915 |
| Lot Size: | 0.22 Acres |
| Opportunity Zone: | No |
| Price per unit: | $166,667 |
| Property Website | Click Here |
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