| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3406 Gibralter Heights Dr, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1974 |
| Units | 82 |
| Transaction Date | 2005-07-19 |
| Transaction Price | $4,548,600 |
| Buyer | TOLEDO PROPERTIES OWNER LLC |
| Seller | TOLEDO PROPERTIES LLC |
3406 Gibralter Heights Dr Toledo Multifamily Investment
Neighborhood occupancy trends are solid and the renter base is deep, according to WDSuite s CRE market data, supporting income stability for well-managed assets. Figures cited reflect neighborhood-level conditions rather than property-specific performance.
This Inner Suburb location in Toledo sits above the metro median for occupied housing, with neighborhood occupancy indicating a stable leasing backdrop. The area s renter-occupied share is high (nearly four out of five housing units), pointing to a sizable tenant pool and demand depth for multifamily operators at the neighborhood level.
Vintage positioning is pragmatic for underwriting: built in 1974, the property is newer than the neighborhood s average construction year (1959). That generally supports competitive standing versus older local stock, while still warranting targeted renovations and capital planning for systems and interiors to sustain rentability and reduce long-term maintenance volatility.
Amenities are limited nearby, with few daily-needs options in immediate proximity, though restaurant density ranks competitively versus many neighborhoods nationally. For investors, that suggests marketing should emphasize access to broader city conveniences and commute routes rather than walk-to retail.
Within a 3-mile radius, demographics show households have grown in recent years and are projected to expand further, even as average household size trends lower. That mix typically enlarges the renter pool over time and can support occupancy stability. Median rents in the 3-mile area are modest today with forward increases expected, implying room for disciplined rent management while keeping an eye on affordability to protect retention.
Safety indicators are mixed relative to Toledo s 244 neighborhoods. Overall crime positioning sits below the metro average, and national comparisons place the neighborhood below the midpoint for safety. However, year-over-year trends show meaningful improvement in both property and violent offenses, which is a constructive signal to monitor rather than a guarantee of continued progress.
Investors should frame security measures and resident experience as part of the operating plan e.g., lighting, access controls, and partnerships with local community resources while tracking whether recent improvement trends continue at the neighborhood level.
Proximity to established corporate employers underpins local renter demand, particularly among workforce households with short commutes. Nearby anchors include Owens Corning, Dana, Dana Holding, Owens-Illinois, and Dana Holding Corporation.
- Owens Corning corporate offices (4.9 miles) HQ
- Dana corporate offices (5.3 miles)
- Dana Holding corporate offices (5.3 miles) HQ
- Owens-Illinois corporate offices (6.7 miles) HQ
- Dana Holding Corporation corporate offices (7.3 miles)
The 82-unit, 1974-vintage asset offers durable renter demand in a neighborhood that sits above the metro median for occupied housing and exhibits a high share of renter-occupied units. Modest rent levels locally, coupled with neighborhood-level occupancy stability, position the asset for steady operations with targeted value-add to modernize interiors and systems for competitiveness versus older stock.
Within a 3-mile radius, recent household growth and a forecast increase in population suggest a larger tenant base ahead, even as household sizes trend smaller a pattern that typically supports multifamily leasing. Nearby corporate anchors enhance commute convenience for residents. According to CRE market data from WDSuite, the neighborhood s conditions are improving on several fronts, though investors should underwrite conservatively for security, amenity scarcity, and income sensitivity.
- High neighborhood renter concentration supports tenant-base depth
- Above-median neighborhood occupancy indicates leasing stability
- 1974 vintage allows targeted value-add to out-compete older stock
- 3-mile household growth and nearby employers reinforce demand
- Risks: safety positioning below metro average, limited nearby amenities, and sensitivity to rent increases