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Street View
$1,935,000
Monthly Est:$9,631
-- Bed
-- Bath
--sqft
3685 Cleveland Ave, Columbus, OH 43224
$1,935,000
$9,631/moEst:
Get Pre-Approved
Multi Family
Built in 1962
$-- HOA
10,018.8 sqft lot
--/sqft
Description
Melrose Manor is a 33-unit community of 21 studios and 12 one-bedroom/one-bath units on Cleveland Avenue in northeast Columbus, offered at $1,935,000 ($58,636 per unit). The property is 75.8% occupied (25 of 33 units), and T-12 NOI is $151,552, a 7.83% cap rate. The 8 vacant units represent $7,370/month at market rents. On the occupied units, in-place rents average $847 against $895 market for studios and $1,000 for one-bedrooms, an 11% upside through turnover and renewals, and eleven leases are past their stated end date, giving flexibility to renew or reprice. RUBS is in place. The efficient studio and one-bedroom mix suits workforce and entry-level renters along the Cleveland Avenue corridor, with dining, retail, and daily services nearby. An opportunity to acquire a value-add asset with in-place cash flow and a clear path to higher occupancy and rents.
Available as a package with Pine Hill Townhomes and Village on Courtright.
- Houzeo last checked: 12 minutes ago
- Listing updated: November 6, 2026 at 2:09 pm
- Listing Provided by: Joey Allen Miller (330) 600-1044 , Zeke Liston | Forge Real Estate Advisors (614) 665-5793
- Source: Columbus and Central Ohio Regional MLS-OH | MLS#: 226042125
Property Details
Status
Active
Type
Multi Family
No. of Stories
-
County
City
Neighborhood
Year Built
1962
HOA Fees
-
Finished Area
- sqft
Lot Size
10,018.8 sqft lot
Basement Area
- sqft
MLS Name
Columbus and Central Ohio Regional MLS
MLS Number
226042125
MLS Status
Active
Days on Market
1
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedroom: --
Bathroom: --
Interior
Heating
Forced Air
Utilities & Energy
Utilities
Water Available, Sewer Available, Natural Gas Available, Electricity Available, Storm Sewer
Price History
| Date | Event | Price |
|---|---|---|
11/06/2026 Source: | Listed for Sale | $1,935,000 -21.82% $0/sqft |
10/12/2025 Source: | Off Market | $2,475,000 +395.00% $0/sqft |
05/21/2010 Source: | Sold | $500,000 +25.00% $0/sqft |
05/21/2010 Source: | Price Decreased | $400,000 -42.78% $0/sqft |
04/08/2009 Source: | Price Decreased | $699,000 -3.59% $0/sqft |
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North Linden Ranks #186 in Columbus, OH
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Based on information from the Columbus Association of REALTORS (alternatively, from Multiple Listing Service of the Columbus Association of Realtors, Inc.) through Nov 07, 2026, 10:45AM. Information is provided exclusively for consumers’ personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of property information; such should be independently verified. Columbus Association of REALTORS expressly disclaims any liability in connection therewith. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. © 2026 Copyright Columbus Association of REALTORS. All rights reserved.
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