117 Pontious Lane | Circleville
An incredible opportunity just 25 minutes from downtown Columbus, this 90-unit apartment portfolio is located in Circleville, OH. The offering combines a stabilized asset with the ability to add value through renovations and organic rent increases. Limited supply in the area has supported high historical occupancy, and the census tracts containing the properties show median family income of more than $65,000 annually. Circleville offers strong rental demand with proximity to entertainment, employment, and southern Columbus suburbs, all within a 20\u201330 minute drive.\r\nThe portfolio consists of six properties, all within one mile of each other for efficient management. An existing property manager and on-site maintenance staff are in place, offering a turnkey transition. Approximately 60 of the 90 units have been renovated with vinyl plank and carpet flooring, updated kitchens and bathrooms, light fixtures, and appliances, while the remaining units provide additional value-add potential.\r\nThe unit mix includes 16 three-bedroom units, 36 two-bedroom units\u2014some with 1.5 bathrooms and townhome layouts\u2014and 38 one-bedroom units. Select units feature townhome style floor plans, exterior porches, laundry hookups, and central AC. Pro forma rents are projected at $1,250\u002B for three-bedroom units, $1,150\u002B for two-bedroom units, and $825\u002B for one-bedroom units, with gross monthly income potential exceeding $87,000. Additional upside can be achieved through utility and pet fees. At a 7.5% cap rate and stabilized expenses, the pro forma value of this portfolio could exceed $12 million. MLSNow 5158011 Directions to property: North of route 22.
Information deemed reliable but not guaranteed. Zid Realty & Associates is a member of the National Association of REALTORS® Equal Housing Opportunity