The Broad at Discovery District – INCOME PROPERTY ORGANIZATION

Screenshot 2023-03-24 162634

The Broad at Discovery District

Available: $4,100,000

595 E Broad St, Columbus, OH 43215
Property Type: Multifamily
Number of Units: 18
Price Per Unit: $227,778
Average Square Feet: 425
Debt Service Coverage: 1.13
Cash Flow: $62,054
Year One ROI: 5.05%

Listing Agent: Paul McHugh, J.D.

Location

EXECUTIVE SUMMARY:

This community boasts 1 studio and 17 one-bedroom / one-bathroom professional apartment homes. The Broad at Discovery District was built in 1915 and has been completely restored – this was previously an empty building. Everything is new except the exterior brick. The restoration included new plumbing, electrical, HVAC, roof, and windows. The interior was constructed with high-end finishings tailored to professionals.

Currently The Broad at Discovery District is operating at 94% physical occupancy. It has a 100% tax abatement on improvements in place for 12 years lasting until 2035. The Broad is a well-located asset in downtown Columbus, poised for new ownership. Contact IPO to set up a confidential tour before it’s gone.

MEET OUR TEAM

Founder | Managing Member, Michigan | Sales Associate, Kentucky

Associate Broker, Michigan | Broker, Illinois

A.J. Beachum, J.D.

Associate Broker, Michigan | Broker, Ohio

Associate Broker, Michigan | Managing Broker, Indiana

Sales Associate, Michigan, Ohio, & Kentucky

Sales Associate, Michigan

Paul McHugh, J.D.

Managing Broker, Kentucky | Associate Broker, Ohio | Sales Associate Michigan

Associate Broker, Michigan | Executive Assistant

Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio