Marcus & Millichap Lists 256-Unit Apartment Community in Columbus, Ohio for $13.9 Million
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Marcus & Millichap Lists 256-Unit Apartment Community in Columbus, Ohio for $13.9 Million

COLUMBUS, OH, Nov. 15, 2007 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Waterford Pointe, a 256-unit multi-family community in Columbus. The listing price of $13.9 million represents $54,297 per unit.

Gary Cooper, director of Marcus & Millichap’s National Multi Housing Group in Cleveland, and Matthew Brown, a senior investment associate in the firm’s Columbus office, are representing the seller.

“Waterford Pointe represents an excellent opportunity for an investor to acquire a well-maintained apartment community that features easy access to all major highways and is just one mile from Hilliard’s major retail corridor,” says Brown.

Located at 5750 Feder Road, the 215,828-rentable square foot garden-style community consists of 16 two-story buildings situated on a 15.26-acre lot with direct exposure to traffic on Interstate 70 and Feder Road.

The apartment community features 63 one-bedroom/one-bath units and 193 two-bedroom/one-bath units. Unit amenities include laundry hookups, dishwasher, central air conditioning, larges closets, spacious kitchens with a dining area as well as 124 private garages and 485 parking spaces. Community amenities include a clubhouse, swimming pool with sundeck, tennis courts and sparkling lake views.

With more than 1,300 investment professionals in offices nationwide, Encino, Calif.-based Marcus & Millichap Real Estate Investment Services is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments. In 2006, the firm closed $20.5 billion in transactions. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry’s most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.