1650 Michigan Ave - Apartments FOR SALE


Maumee, OH 43537
$1,645,000 USD
419-277-7636
1650 Michigan Ave, Maumee, OH for Sale
$1,645,000 USD
Apartments - FOR SALE
1/5
null | 7.65% Cap Rate

1650 Michigan Ave
Maumee, OH 43537


OVERVIEW

This offering presents a 23-unit multifamily property in Maumee, Ohio, comprising five one-story brick ranch-style buildings. Constructed in 1963 and recently updated with newer gable roofs, the property includes a mix of 17 one-bedroom and 6 two-bedroom units, providing strong appeal to a diverse tenant base. Each unit features stoves and refrigerators, central air, and washer-dryer hookups, with some units including appliances. Utilities are separately metered for gas with central air, reducing owner expenses. Positioned near Heatherdowns and Eastgate, the location offers convenient access to major corridors and regional amenities within the Toledo metropolitan area. With an asking price of $1,645,000, this asset delivers stable income with upside potential through management efficiencies and rental growth. Maumee remains a desirable residential market, supported by steady demand and proximity to employment centers. Investors seeking a well-maintained, income-producing property with proven occupancy history will find this an attractive acquisition.

FOR SALE DETAILS

PRICE

$1,645,000 USD

PRICE/SF

$100 USD /SF

# OF UNITS

23

PRICE/UNIT

$71,522

CAP RATE

7.65%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

PARKING SPACES

57

LAND DETAILS

LAND ACRES

2.11 AC

LAND SF

91,987 SF

ZONING

16-R3

APN/PARCEL ID

36-01939,36-01943

ASK ABOUT THIS PROPERTY

Bruce SmennerDanberry RealtorsMore Info
419-277-7636

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Bruce SmennerDanberry RealtorsMore Info
419-277-7636

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.