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Multifamily

The Gemma

1125 Oak St, Columbus, OH 43205

Listing Price: $6,000,000

Cap Rate
5.02%
Number of Units
24
GRM
18.51
Occupancy
100.0%
Price/Unit
$250,000
Price/Gross SF
$400.75
Gross SF
14,972

Investment Overview

As shown by the statistics above, Columbus has seen a significant economic rebound following the recession of 2009. This trend continues as the baby boomers and millennials alike flow into the urban core seeking jobs and/or housing. The population growth over the last 9 years clearly reflects this fact with the rental rate growth and vacancy statistics above supporting the conclusion that mature infill areas are posed for further growth. Over the past decade, neighborhoods such as the Short North, Olde Towne East and German Village have experienced immense growth. Both neighborhoods are well known for their vitality and vibrant social scenes as shown by their numerous restaurants, bars, shops, and art galleries. With investors and residents alike becoming priced-out of areas such as German Village and the Short North, they have begun to seek their next home or opportunity in the Discovery District/Topiary Park and Olde Towne East neighborhoods. Also driving growth is the significant and unabated growth, both geographically and financially, of major employers such as Nationwide Childrens Hospital and the Motorists Insurance Group. Nationwide Childrens boasts more than 13,700 employees or associates (including the Research Institute) whose average salary is $86,000 within a range of $24,000 to $355,000. This growth in the Discovery District/Topiary Park is complemented by the contributions of the Motorists Insurance Group whose employees salaries range from $46,000 to $105,000.

Investment Highlights

  • Current 5% CAP Rate.
  • Newly Built Multifamily Apartments Complex.
  • Phenomenal location just blocks from downtown, Olde Towne East & German Village.
  • (22) 1-Bed/1-Bath Flats | (2) 2-Bed/2-Bath Townhouses.
  • Ground Level ADA Compliant Units.
  • Digital, Large Volume Washer/Dryer in unit.

Exclusively Listed By

  • Matt Snyder

    First Vice President Investments

    (513) 878-7727

    Email Matt

    License(s): OH: SAL.2003009376, KY: 208161

    Cincinnati

  • Lisa A. Sickinger

    First Vice President Investments

    (937) 299-4958

    Email Lisa

    License(s): OH: SAL.2005015714

    Cincinnati

Listing Price: $6,000,000

Cap Rate
5.02%
Number of Units
24
GRM
18.51
Occupancy
100.0%
Price/Unit
$250,000
Price/Gross SF
$400.75
Gross SF
14,972

Investment Highlights

  • Current 5% CAP Rate.
  • Newly Built Multifamily Apartments Complex.
  • Phenomenal location just blocks from downtown, Olde Towne East & German Village.
  • (22) 1-Bed/1-Bath Flats | (2) 2-Bed/2-Bath Townhouses.
  • Ground Level ADA Compliant Units.
  • Digital, Large Volume Washer/Dryer in unit.

Investment Overview

As shown by the statistics above, Columbus has seen a significant economic rebound following the recession of 2009. This trend continues as the baby boomers and millennials alike flow into the urban core seeking jobs and/or housing. The population growth over the last 9 years clearly reflects this fact with the rental rate growth and vacancy statistics above supporting the conclusion that mature infill areas are posed for further growth. Over the past decade, neighborhoods such as the Short North, Olde Towne East and German Village have experienced immense growth. Both neighborhoods are well known for their vitality and vibrant social scenes as shown by their numerous restaurants, bars, shops, and art galleries. With investors and residents alike becoming priced-out of areas such as German Village and the Short North, they have begun to seek their next home or opportunity in the Discovery District/Topiary Park and Olde Towne East neighborhoods. Also driving growth is the significant and unabated growth, both geographically and financially, of major employers such as Nationwide Childrens Hospital and the Motorists Insurance Group. Nationwide Childrens boasts more than 13,700 employees or associates (including the Research Institute) whose average salary is $86,000 within a range of $24,000 to $355,000. This growth in the Discovery District/Topiary Park is complemented by the contributions of the Motorists Insurance Group whose employees salaries range from $46,000 to $105,000.

Exclusively Listed By

  • Matt Snyder

    First Vice President Investments

    (513) 878-7727

    Email Matt

    License(s): OH: SAL.2003009376, KY: 208161

    Cincinnati

  • Lisa A. Sickinger

    First Vice President Investments

    (937) 299-4958

    Email Lisa

    License(s): OH: SAL.2005015714

    Cincinnati

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