| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3375 Gibralter Heights Dr, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1974 |
| Units | 36 |
| Transaction Date | 2011-06-03 |
| Transaction Price | $3,987,100 |
| Buyer | TOLEDO PROPERTIES OWNER LLC |
| Seller | TOLEDO PROPERTIES LLC |
3375 Gibralter Heights Dr Toledo Multifamily Investment
Neighborhood occupancy sits above the metro median and renter concentration is deep, supporting income stability according to WDSuite’s CRE market data.
This Inner Suburb location in Toledo shows steady renter demand dynamics. Neighborhood occupancy is 94.2% (above the metro median based on a rank of 101 among 244 neighborhoods), which points to leasing stability for well-positioned assets. Renter-occupied housing accounts for 78.7% of units locally, indicating a sizable tenant base that can support multifamily absorption and renewal activity.
Within a 3-mile radius, households increased modestly over the past five years while average household size declined, expanding the pool of smaller households. Forward-looking data points to a larger tenant base, with population and households projected to grow, which should help sustain occupancy and leasing velocity. Median contract rents in the 3-mile area remain accessible, aiding lease retention as operators calibrate rent-to-income thresholds.
Daily conveniences are mixed: restaurants index competitively versus the metro (ranked 43 of 244; top quartile nationally), while cafes, groceries, parks, and pharmacies are thinner in the immediate neighborhood. Investors should underwrite to on-site amenities and transportation access to offset the lighter retail mix and support resident retention.
The neighborhood’s median home values are comparatively low in national terms, which can create some competition from ownership. Lease management and product differentiation (finish levels, in-unit features, and professional management) become important to preserve pricing power and resident stickiness amid more accessible ownership options.
Safety indicators are mixed. Overall crime benchmarks trend near the national middle, with the neighborhood around the 47th percentile nationally. Violent offense rates benchmark lower relative to U.S. neighborhoods (around the 10th percentile), while property offenses are also in a lower national bracket (about the 22nd percentile). Investors should plan for typical security measures and resident engagement to support retention.
Notably, recent-year trends indicate improvement: estimated violent offenses declined by roughly 29.8% year over year and property offenses by about 37.7%, according to CRE market data from WDSuite. While submarket-level performance can vary by block, the directional trend is favorable and supports underwriting that emphasizes operational oversight and lighting, access control, and community standards.
Proximity to core Toledo employers supports a broad workforce renter base and practical commute times. Nearby anchors include Owens Corning, Dana, Dana Holding, Owens-Illinois, and Dana Holding Corporation.
- Owens Corning — building materials (5.0 miles) — HQ
- Dana — auto parts (5.2 miles)
- Dana Holding — auto parts (5.2 miles) — HQ
- Owens-Illinois — glass & packaging (6.6 miles) — HQ
- Dana Holding Corporation — auto parts (7.3 miles)
Built in 1974, the asset is newer than much of the surrounding housing stock and can compete effectively against older product, while still benefiting from targeted modernization to enhance rentability and operating efficiency. Neighborhood occupancy is above the metro median and the renter concentration is high, supporting depth of demand and renewal potential. Within a 3-mile radius, recent growth in household counts alongside smaller average household sizes points to a broader renter pool over time, which can reinforce occupancy stability.
Operators should balance opportunity with prudent risk controls. Homeownership costs in this part of Toledo are comparatively accessible, which can create competition for some renter cohorts, and safety benchmarks remain below national medians even as recent-year crime trends improved. Underwriting that emphasizes resident experience, asset quality upgrades, and thoughtful rent positioning can help sustain performance, based on CRE market data from WDSuite.
- Above-metro-median neighborhood occupancy supports income stability
- High renter concentration indicates strong depth of tenant demand
- 1974 vintage offers competitive positioning with scope for value-add upgrades
- 3-mile trends point to a larger renter pool, aiding leasing and renewals
- Risks: accessible ownership options and below-median safety require focused operations