389 Berkeley Road, 391, Columbus, OH 43205
New Listing
$654,000
Property Type:
Multi-Family
Lot Size (sq. ft.):
3,485
Status:
Active
Current Price:
$654,000
List Date:
8/25/2026
Last Modified:
8/25/2026
Listing Details MLS# 226032253
Location Property Info
- Original List Price
- 654000
- Property Sub Type
- Duplex
- Street #
- 389
- Street Name
- Berkeley
- Street Suffix
- Road
- Unit/Suite #
- 391
- County
- Franklin
- State
- OH
- Zip Code
- 43205
- School District
- COLUMBUS CSD 2503 FRA CO.
- Township
- None
OfficeContract Info
- MLS Entry Date
- 2026-08-25
General Property Info
- Number of Units
- 2
- # of Buildings
- Yes
- Building Sqft
- 3036
- Year Built
- 1916
- Built Prior to 1978
- Yes
- Occupancy Rate
- 100
- Lot Size (Side)
- 98
- Acreage
- 0.08
- Total Parking
- 0
- Carport Spaces
- 0
- Off Street Parking Spaces
- 0
- Assoc/Condo Fee
- 0
Tax Info
- Parcel #
- 010-096197
- Tax Year
- 2025
- Tax Abatement
- Yes
- Abatement End Date
- 2036-03-11
- Taxes (Yrly)
- 3730
- Tax Incentive
- No
3 Bedroom
- 3 Bedroom # of Units
- 2
Auction Info
- Auction/Online Bidding Y/N
- No
More Information
Location & Property Info
- List Price/SqFt
- 215.42
- City (Mailing Addr)
- Columbus
- Corp LimitPerAuditor
- Columbus
Office/Contract Info
- For Sale
- Yes
- Exchange
- No
Remarks & Misc
- Property Description
- 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.
Income/Expenses
- Gross Income
- 50340
- Net Operating Income
- 45110
- Total Expenses
- 5229
Addl Acceptance Cond
- None Known
- Yes
Construction
- Brick
- Yes
Parking Features
- No Garage
- Yes
Water Source
- Public
- Yes
Sewer
- Public Sewer
- Yes
Miscellaneous
- Basement
- Yes
- W/D Hookups
- Yes
Tenant Pays
- Gas
- Yes
- Sewer
- Yes
- Water
- Yes
- Electricity
- Yes
Alternate Uses
- Residential
- Yes
Heating
- Forced Air
- Yes
- Hot Water
- Yes
New Financing
- Conventional
- Yes
Air Conditioning
- Central Air
- Yes
MLS Primary PhotoSrc
- Realtor Provided
- Yes
Property Features
Addl Acceptance Cond:
None Known
Parking Features:
No Garage
Tenant Pays:
Electricity; Gas; Sewer; Water
Heating:
Forced Air; Hot Water
Air Conditioning:
Central Air
Construction:
Brick
Water Source:
Public
Sewer:
Public Sewer
Miscellaneous:
Basement; W/D Hookups
Alternate Uses:
Residential
New Financing:
Conventional
MLS Primary PhotoSrc:
Realtor Provided
Listing Office:
MDC Realty Limited
Listing Agent:
Matthew D Cochrell
Last Updated: August - 25 - 2026
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Columbus Board of Realtors Multiple Listing Service.Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Columbus Board of Realtors Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Copyright 2026 Columbus Board of Realtors. All rights reserved.