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 $50,340 annually ($4,195/month combined). Current property taxes are $3,729.54 under the active CRA abatement. Projected net operating income is approximately $45,110, producing an approximate 6.9% cap rate at the 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.
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
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Style
Multi-Family (5+ Unit)
County
Franklin County
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Last updated by owner on Mar 6, 2026.
R3
Residential District
The following districts provide an opportunity for development of single, twin-single, three and four unit dwellings, manufactured housing, specific public uses, religious and educational, and accessory uses with specific denoted standards structured to ensure the health, safety and general welfare of the residents in these districts.
Permitted uses
Include but are not limited to:
Agriculture
Greenhouse / nursery
Community / recreation center
Religious facility
Housing-Single unit
Educational/school
Library
Agriculture-Cropland
Park & open space
Property details
Interior
Heating & Cooling
Has Cooling
Cooling: Central Air
Heating: Forced Air, Hot Water
Multi-Unit Information
Number Of Units Total: 2
Net Operating Income: $45,110
Operating Expense: $5,229
Exterior
Property Information
Property Sub-Type: Duplex
Year Built: 1916
Year Built Effective: 2021
Lot Information
Lot Size Area: 0.08
Lot Size Square Feet: 3484.8
Lot Size Acres: 0.08
Financial
Tax Information
Tax Annual Amount: $3,730
Tax Year: 2025
Utilities
Utilities Information
Sewer: Public Sewer
Water Source: Public
Location
School Information
High School District: COLUMBUS CSD 2503 FRA CO.
Location Information
Street Additional Info: 391
Cross Street: Rich
Township: None
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: —
Style: Multi-Family (5+ Unit)
Year Built: —
Year Renovated: —
County: Franklin County
APN: —
Home facts updated by county records on Mar 6, 2026
Other
Information For Agents
Special Listing Conditions: Standard
Around this home
Schools
Ohio Avenue Elementary School
Public PreK-5 • Assigned • 0.9mi
4/10
Champion Middle School
Public 6-8 • Assigned • 1.1mi
4/10
East High School
Public 9-12 • Assigned • 0.6mi
4/10
Provided by GreatSchools
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
4/10 Heat Factor
7 days above 100° expected this year, 18 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
3/10 Air Factor
2 unhealthy days expected this year, 4 days in 30 years
Provided by First Street
Historical weather
Columbus, OH • 43205
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Sun exposure
69/ 100
Moderate sunlight
Sunscore
There appears to be some shading by surrounding buildings, terrain, and vegetation.