| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3235 Airport Hwy, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1979 |
| Units | 108 |
| Transaction Date | 2015-10-30 |
| Transaction Price | $3,000,000 |
| Buyer | CAMBRIDGE BRIARCLIFF TIC LLC |
| Seller | CAMBRIDGE BRIARCLIFF LENDER LLC |
3235 Airport Hwy Toledo 108-Unit Multifamily Investment
Neighborhood indicators point to steady renter demand, with occupancy measured at the neighborhood level trending healthy according to WDSuite’s CRE market data. The location’s renter-occupied housing concentration supports a durable tenant base for stabilized operations.
Situated in Toledo’s inner-suburb fabric, the property benefits from a neighborhood occupancy rate that is above the metro median among 244 neighborhoods, supporting income stability at the asset level. At the same time, the area’s renter-occupied share of housing units is high, indicating a deep tenant pool and reinforcing leasing velocity at similar multifamily properties in this pocket.
The 1979 vintage is newer than the neighborhood’s average construction year (1959), offering relative competitiveness versus older housing stock. Investors should still plan for system modernization and targeted common-area upgrades typical for late-1970s assets to maintain positioning against renovated comparables.
Amenity access is mixed: restaurant density benchmarks competitively at a higher national percentile, while immediate access to groceries, pharmacies, parks, and cafes measures weak for the neighborhood (ranked against 244 metro neighborhoods). For residents, this typically shifts convenience toward nearby arterial corridors rather than within short walks, a consideration for marketing and tenant retention.
Within a 3-mile radius, recent years show modest population softness but growth in household counts alongside smaller average household sizes, which generally expands the renter pool and supports occupancy stability. Looking ahead, projections indicate additional household growth and rising incomes, which can underpin measured rent growth and improve renewal capture without overextending affordability.
Home values in the neighborhood context are comparatively low for the region, which can create some competition from ownership options. However, rent-to-income ratios at the neighborhood level sit at manageable levels, suggesting lower affordability pressure and potential for steadier lease retention relative to higher-cost metros.
Safety indicators for this neighborhood sit below the national median overall (national percentile near the middle of the distribution), and the area ranks in the lower half among 244 Toledo neighborhoods. That said, year-over-year trends show notable improvement, with both property and violent offense rates declining, which can help support leasing confidence when combined with prudent on-site safety practices.
Investors should underwrite conservatively and lean on recent trend data rather than single-year snapshots. Monitoring continued momentum in improvement, along with property-level measures such as lighting and access control, can mitigate risk and support resident retention.
The area draws from a diverse employment base anchored by headquarters and major corporate offices in building materials, auto parts, and packaging, supporting steady renter demand and commute convenience for workforce tenants.
- Owens Corning — building materials (4.7 miles) — HQ
- Dana — auto parts (5.5 miles)
- Dana Holding — auto parts (5.5 miles) — HQ
- Owens-Illinois — packaging (6.8 miles) — HQ
- Dana Holding Corporation — auto parts (7.0 miles)
This 108-unit asset presents a straightforward income story: neighborhood-level occupancy is above the metro median and renter concentration is high, supporting depth of demand and stable leasing. The 1979 vintage is newer than the neighborhood average, offering a competitive edge versus older stock while leaving room for targeted upgrades that can unlock incremental NOI and improve renter appeal.
Within a 3-mile radius, household counts have risen even as average household size declines, signaling renter pool expansion and supporting occupancy stability over the medium term. Rising incomes and forward-looking projections for additional households point to measured rent growth potential; according to CRE market data from WDSuite, these fundamentals align with steady operations in comparable Toledo submarkets. Ownership costs are relatively low locally, which can introduce competition from for-sale product, but manageable rent-to-income levels support renewal capture and reduce turnover risk.
- Neighborhood occupancy above metro median underpins income stability
- High renter-occupied housing share signals deep tenant base and steady leasing
- 1979 vintage newer than area average; targeted upgrades can enhance competitiveness
- 3-mile area shows growing household counts and smaller sizes, supporting demand
- Risks: amenity gaps and below-median safety require proactive management and underwriting discipline