1450 Elaine Road

Columbus, OH 43227

$300,000
Last Sold Price
12
Beds
—
Baths
7,200 Sq. Ft.
$42 / Sq. Ft.
7,200
Sq. Ft.
$42
per Sq. Ft.
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Closed 4/30/14
Closed 4/30/14

Description

9.56% Cap Rate. 100% Occupied Fully Renovated in 2013. Ave Rents = $420/mo. Elaine Rd Apartments 12 One-Bedroom units in 3 buildings on one parcel. Brick exterior, new windows, doors, kitchens, bathrooms, appliances, flooring, fixtures, AC units, baseboard heaters & water heaters. Seller receives Sec 8 rent via wire transfer at the start of each month. Solid investment. 18.31% ROE with 20% down (25.98% total return with principal reduction). 3/8 mile west of Hamilton Rd.9.56% Cap Rate. 100% Occupied Fully Renovated in 2013. Ave Rents = $420/mo. Elaine Rd Apartments 12 One-Bedroom units in 3 buildings on one parcel. Brick exterior, new windows, doors, kitchens, bathrooms, appliances, flooring, fixtures, AC units, baseboard heaters & water heaters. Seller receives Sec 8 rent via wire transfer at the start of each month. Solid investment. 18.31% ROE with 20% down (25.98% total return with principal reduction). 3/8 mile west of Hamilton Rd.
  1. Listed by Douglas T Tenenbaum • Brokerage DRE #2009000735 • Howard Hanna Real Estate Svcs
    P: (614)-240-7400 anitaricketts@howardhanna.com

Property Details for 1450 Elaine Road

Zoning Description
R-4
LISTING CLOSED: 04/30/2014 12:00 AM

Property Details for 1450 Elaine Road

StatusClosed
MLS #213041601
Days on Market92
Pet Policy-
Taxes$1,562 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeMulti-Family / Apartment
Year Built1963
CountyFranklin County
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Location

Listing Courtesy of Howard Hanna Real Estate Svcs

Sold By Orum Stair, LLC

Add your commute

Building Information for 1450 Elaine Road

Building/Complex1450 Elaine RdFloor-Stories-Residences12Pet Policy-Pet Policy Details-Year Built1963Building Size-

Payment Calculator

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$1,625 per month

30 year fixed, 6.36% Interest

Principal and Interest

$1,495

Property Taxes

$130

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1450 Elaine Road

Summary
Location and General Information
  • Longitude: -82.885307
  • Latitude: 39.944417
  • Cross Street: W of HamiltonRd
  • Corp Limit Per Auditor: Columbus
  • Between Street: S of Livingston
Taxes and HOA
  • Parcel Number: 010-208503
  • Tax Year: $2,012.00
  • Tax District: 010
School Information
  • High School District: COLUMBUS CSD 2503 FRA CO.
Property
Lot Information
  • Lot Size Square Feet: 21344.4
  • Lot Size Acres: 0.49
  • Lot Size Area: 0.49
Property and Assessments
  • Year Built: 1963
  • Year Built Effective: 2013
  • Built Prior to 1978: Yes
  • Use Code: 401 - APARTMENT:4-19 UNITS
  • Miscellaneous: Public Transport, W/D Hookups
Building Features
  • Construction Materials: Brick
  • # of Buildings: 3.0
  • Building Sqft: 7200.0
Utilities
  • Utilities: Electricity Available, Sewer Available, Storm Sewer, Water Available
Interior and Exterior Features
Interior Features
  • Cooling: Other
  • Has Cooling: Yes
  • Heating: Other
  • Heat Fuel: Electric
Multi Family
Multi Family Information
  • Total Number Of Units: 12.0
  • Occupancy Rate: 100.00%
Income & Expenses
  • Net Operating Income: $28,672
  • Operating Expense: $25,783.00
  • Gross Income: $57,456
  • Gross Scheduled Income: $60,480
  • Effective Income: $60,480
  • Financials For Year of: 2014
Rental
Rent Information
  • Vacancy Allowance Rate: 3,024.00%
  • Owner Pays: Electricity, Sewer, Trash Collection, Water
  • Was Leased: No
  • 1 Bedroom: 1 Bedroom # of Units: 12.0
  • 1 Bedroom: 1 Bedroom Month Rent Per Unit: $420.00
Tenant Information
  • Tenant Pays: Electricity

Property History for 1450 Elaine Road

DateEvent & SourcePriceAppreciation
Apr 30, 2014

Sold

Columbus and Central Ohio Regional MLS #213041601

$300,000—
Apr 25, 2014

Contract Signed

Columbus and Central Ohio Regional MLS #213041601

—
Dec 4, 2013

Listed (Active)

Columbus and Central Ohio Regional MLS #213041601

$300,000—
DateEvent & SourcePrice
04/30/2014

Sold

Columbus and Central Ohio Regional MLS #213041601

$300,000
04/25/2014

Contract Signed

Columbus and Central Ohio Regional MLS #213041601

—
12/04/2013

Listed (Active)

Columbus and Central Ohio Regional MLS #213041601

$300,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 1450 Elaine Road

This home is within Columbus City School District.
Rating
School
Type
Grades
Distance
Leawood Elementary School
Public - PK to 5
Sherwood Middle School
Public - 6 to 8
Walnut Ridge High School
Public - 9 to 12
Columbus Online Academy
Public - 7 to 12
Rating
School
Distance
Leawood Elementary School
PublicPK to 5

Sherwood Middle School
Public6 to 8

Walnut Ridge High School
Public9 to 12

Columbus Online Academy
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Howard Hanna Real Estate Svcs

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