| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 54th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1801 Brownstone Blvd, Toledo, OH, 43614, US |
| Region / Metro | Toledo |
| Year of Construction | 1972 |
| Units | 88 |
| Transaction Date | 2008-03-11 |
| Transaction Price | $2,485,600 |
| Buyer | LC HAWTHORNE HILLS LLC |
| Seller | EMPIRIAN HAWTHORNE HILLS LLC |
1801 Brownstone Blvd, Toledo OH Multifamily Investment
Neighborhood metrics point to stable renter demand and high occupancy, according to WDSuite’s CRE market data, supporting a durable income profile in Toledo’s inner-suburban context.
This Inner Suburb neighborhood is rated A and ranks 31 out of 244 within the Toledo metro, placing it in the top quartile among metro neighborhoods. For investors, that relative positioning reflects resilient fundamentals and a broad renter base that can support leasing stability through cycles.
Local convenience is a strength: grocery and restaurant density rank above the metro median (ranks 33 and 34 of 244), and pharmacies are notably accessible (rank 8 of 244). Café and park options are limited, which may modestly temper lifestyle appeal, but day-to-day services remain competitive among Toledo neighborhoods. Median contract rents in the neighborhood sit in a value segment, which, alongside a rent-to-income profile that suggests manageable affordability pressure, can aid retention.
The neighborhood’s occupancy rate is strong at the neighborhood level, ranking 64 of 244 (competitive among Toledo neighborhoods), and the share of renter-occupied housing units is high at 74.4% (top national percentile), reinforcing depth in the tenant pool for multifamily assets. Demographic statistics aggregated within a 3-mile radius indicate generally stable population levels with a projected increase in households over the next five years, implying a larger tenant base and support for occupancy stability.
The property’s 1972 construction is slightly older than the neighborhood average (1974). That vintage signals routine capital planning and potential value-add or modernization upside to sharpen competitive positioning versus newer stock while capturing demand driven by proximity to services and steady renter concentration.
Safety conditions are mixed. The neighborhood’s crime rank is 213 out of 244 Toledo neighborhoods, indicating below-metro-average safety today. Compared with neighborhoods nationwide, violent and property offenses track in lower national percentiles. However, property offenses have declined by roughly a third year over year, a favorable trend that improves the risk profile if it persists.
Investors should underwrite with conservative assumptions, monitor submarket trends, and consider measures that support on-site safety and resident retention, while noting the recent improvement trajectory.
Proximity to major corporate employers supports a commuter-friendly renter base and can enhance leasing stability, with concentrations in auto components, packaging, building materials, and energy represented below.
- Dana Holding — auto components (3.1 miles) — HQ
- Owens-Illinois — glass packaging (5.6 miles) — HQ
- Owens Corning — building materials (7.4 miles) — HQ
- Dana Holding Corporation — auto components (9.6 miles)
- Marathon Petroleum — energy & refining (39.5 miles) — HQ
Positioned in a top-quartile Toledo neighborhood with competitive occupancy and a high renter concentration, this 88-unit asset is set up for durable demand and steady leasing. According to CRE market data from WDSuite, neighborhood-level occupancy trends and accessible day-to-day amenities suggest support for income stability, while rent levels remain in a value segment that can aid retention.
Built in 1972, the property may benefit from targeted capital improvements to capture value-add upside and enhance its standing against newer stock. Within a 3-mile radius, forecasts point to growth in households, which translates to a larger renter pool and supports sustained absorption. Key underwriting considerations include neighborhood safety that trails metro norms and potential competition from relatively accessible homeownership options in the area.
- Top-quartile neighborhood rank in Toledo and competitive occupancy support income stability
- High renter-occupied share in the neighborhood deepens tenant demand for multifamily
- Value-add potential from 1972 vintage via selective renovations and modernization
- 3-mile household growth outlook expands the renter pool and aids leasing velocity
- Risks: below-metro-average safety and competition from accessible ownership options