Receivership Sale: Value-Add Multifamily Opportunity | Galloway Village

Subject to Court Authorization to Conduct Auction

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.