Somerset Place 3810 Lifestyle Blvd 32 Unit Apartment Building For Sale Columbus, OH 43219

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.
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.