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Jon Willette Of 4 Points Asset Management Sells Student Housing On Lane Ave In Columbus For $16.8M
SOLD
$16,800,000
Student Housing
Sold 07/14/2025
SOLD
Jon Willette Of 4 Points Asset Management Sells Student Housing On Lane Ave In Columbus For $16.8M
262 264 West Lane Avenue
See Similar DealsStudent Housing
Sold 07/14/2025
Summary
OHIO
Asset Type:Student Housing
Transaction Type:Sale
A student apartment complex located at 262-264 West Lane Avenue in Columbus, OH, has been sold for $16.8 million. The asset features 7 stories and includes retail space, as well as amenities such as a rooftop terrace. The complex caters to students at Ohio State University, with rents starting at $1,000 per bed. The sale was managed by Strathmore Real Estate Co.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $16,800,000
- Seller: Jon Willette - 4 Points Asset Management
The deal was finalized on July 14, 2025, with an undisclosed buyer planning renovations aimed at increasing unit numbers. Dublin-based 4 Points Asset Management facilitated the transaction, with Jon Willette representing the seller.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$895,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$59,686.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$79,640.57
Annual Debt Service$955,686.85
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