Seabrook Apartments

Seabrook Apartments is a 28-unit, two-building brick walk-up community in southeast Columbus, offered at $2,295,000 ($81,964/unit, $99.61/SF). Built in 1971, the property has already undergone substantial capital improvements — building-wide electrical panel replacement, new entry doors and concrete landings, a fully replaced roof on one building with the second half-replaced, renovated interior units, and rebuilt common areas including flooring, paint, drywall, lighting, and stairwells. Exterior upgrades include the parking lot, fencing, and landscaping. The unit mix is 16 one-bedroom and 12 two-bedroom homes averaging 823 SF, currently 96.4% occupied (27 of 28 units). Every unit is individually submetered for water, shifting utility costs to residents and helping keep the expense base lean. In-place rents average $943 per unit against a $983 market average, offering embedded upside of roughly 8% in gross scheduled income through natural turnover — with no further renovation spend required. Positioned in ZIP 43227, a majority-renter trade area (51% renter-occupied, $45,314 median household income), the property sits well below the $1,400 Columbus metro average asking rent, insulating it from the wave of new Class A supply moving through lease-up across the metro.