5339 Secor Rd - Apartments FOR SALE


Toledo, OH 43623- Franklin Park
$1,300,000 USD
419-277-7636
5339 Secor Rd, Toledo, OH for Sale
$1,300,000 USD
Apartments - FOR SALE
1/8
null | 8.48% Cap Rate

5339 Secor Rd
Toledo, OH 43623
Franklin Park


HIGHLIGHTS

  • Roof replaced in 2021
  • Multiple units have new stoves, refrigerators and ACs
  • Multiple units have been remodeled including bathrooms and kitchens
  • Approximately $150,000 in updates, remodels, and capital improvements

OVERVIEW

The seller acquired this property in 2021. The previous owner neglected the property and made no reinvestments. Since purchasing, the current owner has invested approximately $150,000 in improvements, including renovated units, new appliances, carpeting, and more. Roof replaced in 2021. This presents an opportunity for a new buyer to complete the remaining upgrades and bring the building to its full potential. Seller wants to cash out- no secondary financing or land contracts.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$72 USD /SF

# OF UNITS

28

PRICE/UNIT

$46,429

CAP RATE

8.48%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Diplomat Place

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

42

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

10-IL

APN/PARCEL ID

23-36181

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 Policy.