Italian Village Triplex

[Markus Atkins]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Columbus.

Purchase price: $564,000

After refinancing out of my FHA loan at my duplex, I reused FHA to purchase this turnkey off-market triplex in Italian Village, which is a great A-grade neighborhood in Columbus. The seller was very generous with their terms and even gave me 6% commission to use as my down payment (tax free) and to buy down the rate to 2.25% on a 30 year mortgage. I was out of pocket nothing at close and am excited to upgrade my lifestyle by moving into this property. I will probably even try my hand at Airbnb down the road.

Currently rented well-below market rate at:
3 bed, 2 bath - $1,500
2 bed, 1 bath - $1,200
Studio unit - $875

Going rates for a 1 bedroom in this neighborhood are currently close to $1,700 at an apartment complex only one street away.