Anybody know what the multi-family cap rate is in Columbus, OH?

13 Replies

Anybody know what the multi-family cap rate is in Columbus, OH?

Of course depends upon class, size, and location. I've seen very nice new downtown properties trading for about 6%. Check Loopnet.com for comps. 

@Todd Moriarty I'm an investor in Columbus. Cap rate varies on location and class of property. Let me know if you want any help - if I have an address and class I can give you a quick idea.

614-571-0910

Anyone have apartment complex in Cleveland Ohio for sale?

Originally posted by @Todd Moriarty :

Anybody know what the multi-family cap rate is in Columbus, OH?

 if you are looking around ohio state for a multifamily i'd say you can get rentals that rent for $3700 per month for around $350k right now. This would be considered class A or Class B (some areas are further from the university). Hilliard, Dublin, Upper Arlington, German Village, etc (your downtown neighborhoods and great schools) are going to be a little better than the 1% rule and will get better with more units (we have a 3 unit under contract that will rent for $3000 per month for around $279k and they had 3 full backup offers). C and D areas are going to depend but that is cash flow like East of Parsons and West Franklinton and other areas like that. 

Robert Ellis, Real Estate Agent in OH (#2014002724)
(614) 943-9520

Jonathan Gobbo
I recently purchased a single family rental in Cleveland area (Old Brooklyn) and very satisfied with the market cap.
Now looking to purchase a duplex.
Let me know if you have any off the market deals coming up.

Thanks

Cap rates are relative to the buyer and the class of property and not necessarily the geography.

Institutional investors will tolerate a much lower cap rate than non because they only want A and A+ properties.

Entrepreneurial investors want a higher return and therefore will go for B and even C properties.

That's true of any market, including Columbus, Ohio.

Check out the CBRE Cap Rate Survey (First Half 2016).  They have current stats for Columbus and many other metro areas for Class A, B and C properties, further segmented between suburban and urban infill assets.

@Nick Sandoval I'm looking for off market 20+ units. I have a relationship with another investor that has boots on the ground in Cleveland and other metros nationwide. 

Let's connect!

Join the Largest Real Estate Investing Community

Basic membership is free, forever.