389-391 Berkeley Road 391

Columbus, OH 43205

Turnkey 2-unit investment property in Olde Towne East, Columbus, Ohio, with a partial 15-year CRA tax abatement active through March 2036. Both sides feature identical 3-bedroom, 1.5-bathroom layouts with renovated interiors, fresh paint, and separately metered utilities paid by tenants. Each unit offers hardwood floors throughout the first floor, a renovated kitchen with quartz countertops and stainless steel appliances, and a flexible first-floor bonus room that works as a dining room or home office. Three second-floor bedrooms share a full bathroom with upgraded finishes, and in-unit washer and dryer are included in both units. Unit 391 includes a large fenced backyard with a patio. The property has a full basement for storage and utility access. Roof, HVAC, and major mechanical systems were updated in 2021. Separate gas, electric, tenants pay all utilities. Gross scheduled rent is $48,300 annually ($4,025/month combined). Current property taxes are $3,729.54 under the active CRA abatement. Projected net operating income is approximately $43,070, producing an approximate 6.2% cap rate at list price. Located in Olde Towne East, minutes from Downtown Columbus, Bexley, Capital University, and Nationwide Children's Hospital. Franklin Park Conservatory, the Trolley District, and East Market are nearby. Olde Towne East is one of Columbus's historic near-east neighborhoods with ongoing investment activity and consistent rental demand. A turnkey Olde Towne East duplex with a long-term tax abatement, updated systems, and tenant-paid utilities -- positioned for an investor or an owner-occupant house-hack buyer.

Listing courtesy of Matthew D Cochrell of MDC Realty Limited: (614) 296-3100



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Last checked: 2026-04-08 08:19 PM UTC