Location
Executive Summary
Seabrook Apartments represent a charming community in Columbus, consisting of two buildings. Seabrook was built in 1960 and has been well maintained over the years. Seabrook contains 16 one-bedroom, one-bath apartments, each measuring 700 square feet and 12 two-bedroom, one-bath apartments, each measuring 880 square feet. All the units have been renovated with new flooring, paint, new cabinets as needed and new light fixtures.
Seabrook has a strong occupancy of 100% and has maintained this level of performance for many years. The average rent for the one-bedroom units is $833 and for the two-bedrooms $1,050. After a thoughtful rent-study, IPO concluded the rents are over $100 below market, based on average per square foot.