1084-1086 E Hudson St, Columbus, OH 43211

Description

Mixed-use value-add -- thirteen 1BR/1BA units plus one commercial storefront, twelve residential units delivered vacant.

This is a heavy value-add project, not a stabilized asset. The twelve vacant residential units require substantial renovation before they can be leased, and pricing reflects that condition. Buyers should underwrite a full gut-and-turn budget across the vacant unit mix plus a realistic lease-up period.

In-place income is one residential unit at $700/month and the commercial suite leased to MetroPCS at $1,300/month, both month-to-month. A recent appraisal concluded an as-is value of $800,000 for the residential component; the commercial suite was excluded from that valuation.

The return is on the other side of the renovation. CMHA's 2026 payment standard for a 1BR in the 43211 ZIP code is $980/month, effective 8/1/2026 -- a gross figure inclusive of the tenant utility allowance, with final contract rent subject to CMHA rent reasonableness and HQS approval. Against $700 in place, a renovated unit mix leased to voucher holders supports a materially higher rent roll, and a new owner executes the full turn and lease-up without relocating existing residents.

Linden location, minutes from the Linden Community Center, I-71 and Easton, with COTA service on the corridor.