For Auction

Receivership Sale: Value-Add Multifamily Opportunity | Galloway Village

99 North Murray Hill Road,
Columbus, OH 43228

Asset Snapshot

Real Estate
Asset Type
Multifamily
Property Type
Garden
Multifamily Subtype
1962
Year Built
36
Building Count
310
Parking Spots
350 Units
Unit Count

Offering Summary

Investment Highlights:

  • Primed for Value-Add Upside: All 350 units are unrenovated with tile floors, laminate countertops, oak cabinets, and white appliances
  • Clear Path to Add Value: The top of the competitive set renovated units with modern white cabinets, higher-end laminate countertops, and hardwood-style floors to achieve average rents of $1,062/unit
  • 96% Average Occupancy in Columbus: Very stable market with increasing demand
  • Excellent Long-Term Outlook: Net migration, income growth, & great employment base
  • Close to Major Employers: Ohio State University, the Ohio State Government, & large hospitals
 

Offering Summary:

Colliers and RI Marketplace are pleased to present Galloway Village, 350 units primed for an immediate value-add execution located only 10 minutes from Ohio State University (67,250 students and 41,000+ jobs). All 350 units are unrenovated featuring tile floors, oak cabinets, laminate countertops, and white appliances. A comprehensive renovation program including hardwood-style floors, backsplash, modern cabinets, higher-end laminate countertops, and black or stainless steel appliances unlocks substantial annual revenue and helps boost the property to a higher-income demographic.

New ownership will leverage excellent multifamily fundamentals in Columbus including strong demand (96% average occupancy), positive net migration, accelerating rent growth, and close proximity to Ohio State University and the Ohio State Government to time value-add improvements perfectly and quickly push top-line revenue.

Due Diligence

Transaction Managers

Darlene Johnson
Marketplace
(800) 915-7015djohnson@realinsight.com
Hampton Gomila
Marketplace
(800) 915-7015hgomila@realinsight.com
Damian Smoter
Marketplace
(800) 915-7015dsmoter@realinsight.com

Platform Fee

Buyer pays a minimum platform fee of 5% or $25,000 at closing.

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Thomas Seaman
Auctioneer
License: 2007000016

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Sold Subject To

This auction has ended. Interested in additional investment opportunities?

Investment Sales Brokers

Tyler Hague
Colliers
(847) 975-8358tyler.hague@colliers.com
Will Mathews
Colliers
(404) 877-9285will.mathews@colliers.com
Lauren Stoliar
Colliers
(847) 830-0477lauren.stoliar@colliers.com
Cody Carey
Colliers
(614) 264-3510cody.carey@colliers.com
RS
Rich Schuen
Colliers
OH License: BRKP.0000323756

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.