| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 35th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Ottawa Landings Dr, Toledo, OH, 43607, US |
| Region / Metro | Toledo |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2015-09-15 |
| Transaction Price | $850,000 |
| Buyer | DMG RENTALS 1 LLC |
| Seller | TIFFANY SQUARE FAMILY LLP |
15 Ottawa Landings Dr Toledo Multifamily Investment
Stabilizing renter demand and rising household counts within a 3-mile radius point to a deeper tenant base over the next few years, according to WDSuite’s CRE market data. For investors, the focus is on managing affordability and capturing lease retention as the submarket’s fundamentals gradually improve.
Located in an Inner Suburb of Toledo, the property sits in a neighborhood rated C+ with dynamics that matter to workforce housing investors. The area’s renter-occupied share is above metro median (ranked 51 out of 244), indicating a meaningful tenant base for multifamily. Neighborhood occupancy has improved in recent years but remains below the metro median (ranked 214 of 244), suggesting room for operational upside if leasing and renewals are managed carefully.
Daily needs are mixed. Pharmacies and childcare are comparatively accessible (both ranked within the strongest cohort locally), while cafes, grocery, parks, and restaurants are limited within the immediate neighborhood. This mix supports essential convenience but implies residents often travel a bit farther for dining and retail—factors to consider when positioning amenities and services to aid retention.
Within a 3-mile radius, demographics show a slight population contraction recently alongside an increase in total households, which implies smaller household sizes and continued multifamily utility. Forecasts point to growth in households by 2028, supporting tenant base expansion and potential occupancy stability. Median household incomes have been trending upward locally, which can help absorb rent growth, though lease management should remain attentive to affordability.
Ownership costs in the immediate neighborhood are comparatively low, which can introduce competition from for-sale options. At the same time, the local rent-to-income profile indicates affordability pressure for some renters, emphasizing disciplined pricing, renewal strategies, and value-focused upgrades. For this 1978 asset—slightly newer than the neighborhood average vintage—select modernization can help maintain competitiveness against older stock while planning for aging systems.
Safety indicators are mixed but trending in a favorable direction. The neighborhood’s overall crime standing is near the middle of the pack locally (ranked 127 out of 244 Toledo neighborhoods), and roughly around the national midpoint (about the 51st percentile). More importantly for long-term operations, both violent and property offense rates have declined year over year, which supports a more stable operating outlook if those trends continue.
Because safety varies block to block, investors typically underwrite to submarket trends and property-level measures. Continued monitoring of local data, together with on-site lighting, access control, and resident engagement, can help sustain leasing and retention momentum as the area evolves.
Nearby employment anchors include Owens Corning, Dana, and Owens-Illinois, which provide diversified corporate office roles within a short drive and help support renter demand through commute convenience.
- Owens Corning — building materials (5.2 miles) — HQ
- Dana — automotive supplier (5.7 miles)
- Dana Holding — automotive supplier (5.7 miles) — HQ
- Dana Holding Corporation — automotive supplier (6.9 miles)
- Owens-Illinois — glass containers (7.6 miles) — HQ
This 24-unit, 1978-vintage property offers a pragmatic value-add path in an Inner Suburb location with an established renter base. Neighborhood occupancy has been improving, and the 3-mile area shows increasing household counts and projected growth in the renter pool—factors that can support leasing velocity and renewal stability. Based on CRE market data from WDSuite, the immediate neighborhood carries affordability considerations, so pricing discipline and targeted unit upgrades are likely to matter more than amenity premiums.
Relative to older nearby stock, a 1978 asset can remain competitive with thoughtful modernization of interiors and building systems. Proximity to major employers provides demand depth, while low local ownership costs suggest ongoing competition from for-sale options—underscoring the importance of operational execution and resident retention programs.
- Established renter base with improving neighborhood occupancy supporting leasing stability
- Household growth within 3 miles points to a larger tenant pool over the next few years
- 1978 vintage offers value-add potential via targeted renovations and system updates
- Commute access to Owens Corning, Dana, and Owens-Illinois supports workforce demand
- Risk: Local affordability pressures and competitive for-sale housing require disciplined pricing and renewal management