Seabrook Apartments – INCOME PROPERTY ORGANIZATION

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Seabrook Apartments

Available | $2,400,000

3670 Seabrook Ave, Columbus, OH 43227
Property Type: Multifamily
Total Number of Units: 28
Average Square Feet: 777
Price per Unit: $85,714
Gross Rent Multiplier: 7.14
Expense to Income Ratio: 52.49%
Debt Service Coverage: 1.24
Year One ROI: 4.13%

Listing Agent: Paul McHugh, J.D.

Location

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.

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

Managing Broker, Florida | Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio