Anchor Retail's Arthur Kaplan closed the $2.05 million sale of a 10-unit multifamily property at 1240 Oak Street in Columbus, Ohio. The 2023-built, tax-abated apartment building sits in Olde Towne East, near Downtown Columbus, and represents another completed investment sales transaction for the brokerage firm.
-- Arthur Kaplan, Senior Vice President of Investment Sales at Anchor Retail, completed the $2.05 million sale of a 10-unit apartment building at 1240 Oak Street in Columbus' Olde Towne East neighborhood. The transaction averaged $205,000 per apartment and adds to the brokerage’s multifamily investment sales activity in Central Ohio.
Built in 2023, the two-story brick property encompasses approximately 7,578 square feet. Its seven one-bedroom and three two-bedroom apartments feature modern kitchens and in-unit laundry. Rear surface parking provides additional convenience for residents.
For a closer look at the property and the investment considerations behind the transaction, read Anchor Retail's full feature: Inside a $2.05M Columbus Multifamily Sale: What Made 1240 Oak Street Stand Out?
The building occupies a location just east of Downtown Columbus, where Olde Towne East's historic residential architecture shares the neighborhood with newer apartment developments. Nearby businesses and public transportation provide access to downtown employment and other destinations throughout the city.
The property also benefits from an existing tax abatement. Such incentives can reduce operating expenses during the approved period, making the remaining abatement term an important consideration for multifamily investors evaluating future net operating income.
The $2.05 million closing provides a recent transaction reference for Columbus apartment building owners and investors researching comparable multifamily sales. While price per unit offers one measure of value, property condition and operating income can create substantial differences between otherwise similar buildings.
Kaplan established Anchor Retail's Columbus office and brings experience in investment sales and commercial real estate development. His background includes acquisitions and dispositions across several commercial property sectors.
About the company: Anchor Retail is a commercial real estate brokerage providing investment sales and other commercial real estate advisory services. Through its Columbus office, the firm works with commercial property owners and investors throughout Central Ohio.
Contact Info:
Name: Arthur Kaplan
Email: Send Email
Organization: Anchor Retail
Address: 875 North High Street, 3rd Floor Columbus, Ohio 43215
Phone: 614-739-0189
Website: https://anchorretail.com/
Release ID: 89205896
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