5311 N Detroit Ave - Apartments FOR SALE


Toledo, OH 43612- North Towne
$1,200,000 USD
734-602-5700
5311 N Detroit Ave, Toledo, OH for Sale
$1,200,000 USD
Apartments - FOR SALE
1/28
null | 10.94% Cap Rate

5311 N Detroit Ave
Toledo, OH 43612
North Towne


HIGHLIGHTS

  • 24-unit multifamily property with all one-bedroom, one-bath layouts.
  • Fully occupied with occupancy history typical for the market.
  • Located near downtown Toledo, major freeways, and the Chrysler Assembly Plant.
  • Within 14 minutes of the University of Toledo and near major employment hubs.
  • On-site parking for 36 vehicles and low-maintenance design with no interior common areas.
  • In-place NOI of $131,257, offering stable income and operational efficiency.

OVERVIEW

This 24-unit multifamily property at 5311 N Detroit Avenue offers an exceptional opportunity for investors seeking stabilized income in a well-connected Toledo location. The asset features all one-bedroom, one-bath units with no interior common areas, minimizing maintenance costs and enhancing operational efficiency. The property has shown consistent occupancy, supported by a strong nearby employment base and proximity to major regional corridors. Situated minutes from downtown Toledo, the University of Toledo, and the Chrysler Assembly Plant, this property is ideally positioned to attract tenants seeking easy access to work and education. The site benefits from connectivity to I-75 and I-280, offering rapid access to the city and regional markets. Supporting infrastructure includes 36 parking spaces (1.5 per unit) and through-wall permanent air conditioning units. With an in-place NOI of $131,257, this turn-key investment offers immediate cash flow with operational stability. The building’s brick exterior, updated interiors with LVP flooring, and efficient layouts make it an attractive long-term hold in a strong rental market. Investors will appreciate its favorable fundamentals and central location within a high-demand rental corridor.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$73 USD /SF

# OF UNITS

24

PRICE/UNIT

$50,000

CAP RATE

10.94%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5311 N. Detroit Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

39

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,399 SF

ZONING

CR, Toledo

APN/PARCEL ID

22-53351

ASK ABOUT THIS PROPERTY

Stewart BealBeal Real Estate LLCMore Info
734-602-5700

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

Stewart BealBeal Real Estate LLCMore Info
734-602-5700

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