| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 26th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2107 W Alexis Rd, Toledo, OH, 43613, US |
| Region / Metro | Toledo |
| Year of Construction | 1980 |
| Units | 96 |
| Transaction Date | 2004-11-30 |
| Transaction Price | $3,125,000 |
| Buyer | TIMBER RUN APARTMENTS LLC |
| Seller | TRITEX REAL ESTATE ADVISORS INC |
2107 W Alexis Rd, Toledo OH Multifamily Investment
Neighborhood renter demand appears resilient, and, based on WDSuite’s CRE market data, occupancy in the immediate area supports stable operations for a 96-unit asset in Toledo’s inner suburbs.
The asset is in an Inner Suburb of Toledo with a B- neighborhood rating. Neighborhood occupancy is reported at 97.3% and ranks in the top quartile among 244 metro neighborhoods, indicating steady leasing and limited downtime risk for comparable multifamily properties.
Renter concentration ranks in the top quartile metro-wide, signaling a deeper base of renter-occupied housing units that can support ongoing tenant demand. With rent-to-income metrics near regional norms, operators can prioritize renewal management and measured pricing strategies informed by multifamily property research.
Amenity access is mixed: restaurants score in the top quartile among Toledo neighborhoods, while nearby grocery, pharmacy, and park options are limited. That pattern typically favors auto-centric living, making on-site conveniences and parking meaningful for retention and resident satisfaction.
Home values sit below many national markets, a context that often sustains reliance on rental housing and supports lease retention. School ratings are lower than many areas in the metro, which may narrow the appeal for some family renters but keeps value-oriented demand in play. Local housing stock trends older (1970 average), and a 1980 vintage positions this property newer than much of the neighborhood, offering relative competitiveness versus older assets while still warranting periodic system updates and common-area improvements.
Within a 3-mile radius, demographics indicate a balanced age mix and modest population growth, with WDSuite data pointing to an increase in households over the next five years. This implies a gradually expanding renter pool that can support occupancy stability and consistent leasing performance.
Relative to the Toledo metro, the neighborhood’s rank indicates higher reported crime than many local areas (positioned in the lower half among 244 neighborhoods). Investors should underwrite for practical security measures and tenant-experience planning as part of standard operations.
Nationally, the area sits below the median for safety; however, recent trends show year-over-year improvement in violent offense rates, suggesting directional gains. The practical approach is to budget for prevention today while monitoring the improving trajectory at the neighborhood level.
Proximity to regional corporate offices supports workforce housing demand and commute convenience, anchored by Dana Holding Corporation, Owens Corning, Dana Holding, and Owens-Illinois.
- Dana Holding Corporation — corporate offices (3.1 miles)
- Owens Corning — corporate offices (6.0 miles) — HQ
- Dana Holding — corporate offices (11.7 miles) — HQ
- Owens-Illinois — corporate offices (13.5 miles) — HQ
Built in 1980, this 96-unit property is newer than much of the surrounding neighborhood stock, offering relative competitiveness versus older assets while still benefiting from targeted value-add and capital planning. According to commercial real estate analysis from WDSuite, neighborhood occupancy ranks in the top quartile among 244 Toledo neighborhoods, and renter concentration is likewise elevated—both indicators of a durable tenant base and potential for steady renewals.
Within a 3-mile radius, modest population growth and an increase in households point to gradual renter pool expansion that supports occupancy stability. Local home values and a rent-to-income profile near regional norms suggest manageable affordability pressure, which can aid retention and measured rent execution. Operators should weigh lower school ratings and below-median national safety standing against improving crime trends and the asset’s relative positioning versus older nearby stock.
- Top-quartile neighborhood occupancy among 244 metro areas supports leasing stability
- Elevated renter concentration deepens the tenant base for a 96-unit asset
- 1980 vintage is newer than much of the area, with value-add potential through selective upgrades
- 3-mile demographics indicate modest population growth and more households, supporting demand
- Risks: below-median national safety and weaker school ratings; underwrite for security and targeted marketing