About 1038 Lockbourne Road
Income-producing 4-unit property generating $5,600/month ($67,200 annually) with tenants paying separate utilities, keeping owner expenses low and returns strong. Current cap rate approximately 8% with clear upside through cosmetic improvements and future rent increases. All four units currently leased at $1,400/month, providing immediate and stable cash flow. Ideal opportunity for investors seeking a value-add property with forced appreciation potential and strong long-term rental demand. Excellent fit for buy-and-hold investors, BRRRR strategy, or portfolio expansion. Opportunity to increase property value through interior updates and operational improvements. Multi-family assets producing this level of income with upside potential are becoming increasingly rare at this price point.
Features of 1038 Lockbourne Road
| MLS® # | 226001615 |
|---|---|
| Price | $630,000 |
| Acres | 0.17 |
| Year Built | 1923 |
| Type | Multi-Family |
| Sub-Type | Midrise |
| Status | Active |
Community Information
| Address | 1038 Lockbourne Road |
|---|---|
| Area | None |
| City | Columbus |
| County | Franklin |
| State | OH |
| Zip Code | 43206 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
School Information
| District | COLUMBUS CSD 2503 FRA CO. |
|---|
Listing Details
| Office | Michael B Pillow of Lpt Realty |
|---|