| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3445 Gibralter Heights Dr, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1974 |
| Units | 47 |
| Transaction Date | 2011-06-03 |
| Transaction Price | $3,987,100 |
| Buyer | TOLEDO PROPERTIES OWNER LLC |
| Seller | TOLEDO PROPERTIES LLC |
3445 Gibralter Heights Dr Toledo Multifamily Investment
Neighborhood renter-occupied concentration is high and occupancy trends are steady at the area level, according to WDSuite’s CRE market data, supporting demand durability for stabilized multifamily.
Situated in an Inner Suburb of Toledo, the property benefits from neighborhood-level occupancy that trends above the national median and a notably high share of renter-occupied housing units. For investors, that signals a deep tenant base and supports leasing stability at the neighborhood scale rather than the property itself.
Local amenity access is mixed: restaurant density is competitive among Toledo neighborhoods (ranked 43 out of 244), while everyday services such as groceries, parks, pharmacies, and childcare are thinner in the immediate area. This favors value-driven renters comfortable with short drives for errands while still having dining options nearby.
Within a 3-mile radius, recent years show a slight population dip alongside an increase in household counts, indicating smaller average household sizes and a broader set of potential renters. Forward-looking projections point to growth in both population and households, which can expand the renter pool and help sustain occupancy levels over time.
Ownership costs in the broader area remain comparatively accessible, which can introduce competition from entry-level homebuying. At the same time, neighborhood rent-to-income metrics suggest manageable rent burdens, a dynamic that can aid retention and reduce turnover risk for well-managed assets.
Relative to national benchmarks, the neighborhood sits below the national median for safety. Within the Toledo metro, its crime rank places it in the lower half among 244 neighborhoods. Investors should underwrite accordingly and prioritize on-site management and visibility measures.
Encouragingly, WDSuite’s CRE market data indicates year-over-year declines in both violent and property offense rates at the neighborhood level, pointing to an improving trend. While no property-level guarantees can be inferred, sustained improvement can support resident retention and leasing performance over the long term.
The area draws from a diversified employment base anchored by manufacturing and corporate offices, supporting workforce housing demand and commute convenience for renters. Key nearby employers include Owens Corning, Dana, Dana Holding, Owens-Illinois, and Dana Holding Corporation.
- Owens Corning — building materials HQ (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 the neighborhood’s average vintage and can compete well against older stock, while investors may still consider targeted system upgrades and modernization to sharpen positioning. Neighborhood-level occupancy trends are solid and renter-occupied concentration is high, indicating a deep tenant base that supports leasing stability. Within a 3-mile radius, household counts have grown even as population dipped slightly, implying smaller household sizes and a wider pool of potential renters; projections indicate continued growth, which can reinforce occupancy and rent fundamentals over time.
Homeownership remains relatively accessible in the broader area, which can create competition for renters; however, rent burdens appear manageable and rents are trending upward based on CRE market data from WDSuite, supporting a steady revenue outlook for well-managed, value-oriented units. The property’s 47 units with spacious average floor plans offer operational scale and a product profile that can benefit from measured value-add to enhance rentability.
- Newer-than-neighborhood vintage (1974) offers competitive positioning versus older local stock, with selective upgrades to enhance performance.
- High neighborhood renter-occupied share and above-median occupancy support demand depth and leasing stability.
- 3-mile household growth and projected expansion point to a larger renter pool and sustained occupancy potential.
- Upward rent trajectory, per WDSuite’s CRE market data, supports revenue management for well-positioned units.
- Risks: thinner nearby retail/services and below-national safety benchmarks; underwrite for visibility, management, and resident retention initiatives.