Franklinton = most interesting area in Columbus: Yes or No?
My Opinion: Franklinton is the most interesting area in Columbus
I am rehabbing a 4 unit I bought off-market for $80,000. My first deal I got cold calling. I only had to talk to this seller for a year. It is a complete gut and I partnered with my broker to learn how to manage a rehab on this scale. Here are the initial walkthrough videos https://drive.google.com/open?id=1mPyjLJIW2QDPgZPRePyrKFYXXBxm4A_D. I recently tried to do another house hack in Franklinton. I was in contract for $145,000 but it appraised at $120,000. We negotiated down a little (about $135,000 I think) but it still was not a good enough deal for me to sink my limited cash into.
Franklinton has become my favorite place to drink on the weekends. My favorite bar is Land Grant (yes the name is that because the city gave them a great incentive to build there). Across the street is BrewDog, and Tafts just opened up. There are some of the best breweries in Ohio and more are coming. CoverMyMeds is building their $240,000,000 headquarters there, gravity just announced their phase 2, and Mount Carmel West is being demolished for redevelopment.
https://docs.google.com/document/d/1aSKpAug4JZxYIvHzRotL36OPHjlahTiOPbZ0Xz3ijMM/edit?usp=sharing
Locals call this area the bottoms because 100 years ago the whole area flooded. Sullivant Ave has an extremely high crime rate and many property managers will not step foot in middle/west Franklinton including myself (I will manage my own but there is 0 chance I am managing for anyone else there. Donny from ERA will do a much better job for you and I may even give him my units). If you can weather the storm for a few more years I think Franklinton will undergo the same revitalization the Short North saw 10 years ago.
What do you think?
