- For Sale Contact for pricing
- Property Type Other
- Property Size 739 SF
- Date Updated May 19, 2026
Description
42 Apartment Units & 40 Townhomes
82 Affordable Units Located Near Ohio State University | Ability To Convert To Market-Rate By 2034
Colliers is pleased to present Park Place, 82 affordable units positioned near the Nationwide Children’s Hospital (17,000 jobs) and Ohio State University (67,250 students and 41,000+ jobs). In good physical condition, Park Place is a stable affordable asset that offers multiple paths to add value. Currently 81% occupied, there is immediate upside by stabilizing occupancy and realizing increased cash-flow. Park Place’s affordability component expires in 2034, allowing new ownership to convert the property to market-rate. All 82 units currently feature tile floors, oak cabinets, laminate countertops, and white appliances. Upon conversion to market-rate, a comprehensive renovation program including higher-end laminate countertops, hardwood-style floors, modern cabinets, and either black or stainless steel appliances unlocks the substantial revenue upside.
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 stabilize Park Place and significantly push top-line rents upon conversion to market-rate.
81% Occupied (as of 11/11/2025)
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