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Listed price in listed location currency (USD).
$4,500,000

000

MLS® 225039892

  • Key Facts
  • Description
  • Map

Key Facts

Type Townhouse
Levels Residential Income
Size -
Garage 
Taxes $36,816
Lot Size 
Approx. Age 1965
MLS® Number 225039892

Property Address: 1462-1490 Elaine Rd, Columbus, OH, 43227-2701

Average square foot calculated using Size range provided by listing agent.

Description

CALL FOR OFFERS BY 12/12/25 This recently renovated, stabilized 40-unit asset boasts an average rent of $1, 128, yet current market comparables suggest upside potential pushing monthly rents toward $1, 350. The business plan centers on renovating and leasing 13 under-market units, currently leased below $1, 000, to market rates approaching $1, 350 upon turnover. Compelling Renovation & Upside Potential — $700K of capital improvements modernized the buildings, and with average rents already at $1, 128, there's room to renovate further and realize $250+/unit per month rent increases. Immediate Value-Add — 13 existing units are leased below $1, 000; renovation and mark to market strategy unlocks near-term revenue growth Strong Market Fundamentals — Columbus exhibits robust net absorption, balancing supply concerns, with vacancy rates stabilizing and rent growth outpacing national averages.
MLS® Number225039892
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1965
Basement
DrivewayCommon
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
-Sold Price

Pending

Oct 21, 2025List Date
$4,500,000List Price
  • Commute

Commute

Starting Address
Destination Address
1490 Elaine Rd, Columbus, OH

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