SOMERSET PLACE
3830 Lifestyle Blvd.
Columbus, OH 43219
Price: TBD By Market
32 Units | 2001 Year Built
Investment Highlights:
Charles Hart Multifamily Group is pleased to present Somerset Place Apartments, a 32-unit apartment community located in Columbus, OH. The property was built in 2001 and is comprised of one three-story residential building nestled on 2.43 acres. Somerset Place provides an excellent opportunity to acquire a stable, well-located asset, with very little deferred maintenance and upside potential through continued unit renovations, increased rent, and improved management.
Somerset Place consists of all-electric, two-bedroom units with 1,050 square feet of living space. Unit Features include a fully equipped kitchen with dishwasher, built-in microwave, breakfast bar, and en-suite washer/dryer. Currently, 19 of the units have been renovated to ‘deluxe’ status which feature granite countertops, stainless steel appliances, and luxury vinyl plank flooring. Residents are responsible for paying for the electric and water/sewer. The community offers residents an abundance of amenities including garage parking, a 24-hour fitness center, community room, elevator, and controlled access.
The property features a single commercial space totaling 6,400 square feet, in addition to its residential units. This space is currently occupied by Little Incredibles, an early childhood learning center which has been a tenant since 2021. Their lease is in place until March 2028 with one more scheduled rent increase taking effect in early 2027.
In order to maximize the potential of the property, ownership recently had the lot split into two separate parcels. This will give a new owner the ability to develop additional units on what is currently a large surface parking lot. The proposed architectural plans allow for one three-story building that can house an additional 64 multifamily units providing the ability to significantly increase the property’s density and maximize income potential site wide.
Location Highlights:
Somerset Place is conveniently located in East Columbus right off Stelzer Road with an average of 21,000+ vehicles per day. The property is just minutes away from Easton Town Center offering residents access to the abundant shopping, dining, and employment the area has to offer. The community is also a short drive from downtown Columbus and only a 3-minute drive to John Glenn International Airport, making it easy to enjoy everything Columbus has to offer.
Somerset Place Offering Documents
Please read the confidentiality agreement and buyer registration before filling out the form to view additional offering materials.
CHARLES HART REAL ESTATE MULTIFAMILY GROUP
HOME OPPORTUNITIES CLOSED TRANSACTIONS ABOUT ADVANTAGE CONTACT
Confidentiality and disclaimer agreement: The information contained in the following is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Charles Hart Real Estate LLC and should not be made available to any other person or entity without written consent of Charles Hart Real Estate LLC. Marketing Brochures have been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in a given subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Charles Hart Real Estate LLC has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the Presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in a Marketing Brochure has been obtained from sources we believe to be reliable, however, Charles Hart Real Estate LLC has not verified, and will not verify, any of the information contained herein, nor has Charles Hart Real Estate LLC conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Listing disclaimer: Charles Hart Real Estate LLC is not affiliated with, sponsored by, or endorsed by any commercial tenant or lease identified in this marketing brochure. The presence of any corporation logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by said corporation and Charles Hart Real Estate LLC or any of its agents and is solely included for the purpose of providing information about a listing to prospective customers.
