| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 68th | Best |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3455 Oak Alley Ct, Toledo, OH, 43606, US |
| Region / Metro | Toledo |
| Year of Construction | 1978 |
| Units | 48 |
| Transaction Date | 2004-06-21 |
| Transaction Price | $1,351,000 |
| Buyer | REGAL OAKS HOLDINGS LLC |
| Seller | REHAB ASSOCIATES XIII INC |
3455 Oak Alley Ct Toledo Multifamily Investment, 48 Units
Positioned in Toledo’s inner-suburban corridor, the asset benefits from steady renter demand and daily-needs access, according to WDSuite’s CRE market data. One clear takeaway for investors is durable tenant appeal at attainable rents relative to local incomes.
The property sits in an Inner Suburb neighborhood rated A- among 244 Toledo neighborhoods, placing it competitive within the metro. Daily-needs access is a strength: grocery availability ranks in the top quartile among 244 metro neighborhoods and restaurants are similarly strong, while broader amenity density trends closer to metro averages. These local conveniences support leasing and retention for workforce-oriented assets.
Neighborhood occupancy runs in the mid-80s, a softer read versus stronger submarkets, per WDSuite’s CRE market data for the neighborhood (not the property). Median contract rents track below national norms, providing a value positioning that can aid leasing stability and measured pricing power when paired with effective operations.
Vintage matters for capital planning: built in 1978, the asset is slightly older than the neighborhood’s average construction year (1982). That age profile can present value-add opportunity through targeted renovations and systems modernization to enhance competitive positioning against newer stock.
Tenure mix and demographics point to a sustainable renter base. Within the neighborhood, an estimated one-third of housing units are renter-occupied, indicating a meaningful—but not saturated—renter concentration that supports multifamily demand. At the 3-mile radius, recent population trends were modestly negative but are forecast to turn positive with a projected increase in overall population and a notable rise in household counts alongside smaller household sizes. For investors, that suggests a larger tenant base and potential renter pool expansion that can support occupancy and lease-up over time.
Ownership costs in this area sit below national benchmarks, which can introduce some competition from for-sale options. However, the combination of attainable rents and household income growth in the 3-mile radius strengthens the case for retention and steady absorption, especially for well-managed communities offering convenience and functional unit finishes.
Safety indicators for the neighborhood (measured against 244 Toledo neighborhoods) are weaker than metro averages, placing it toward the less safe end of the local spectrum and below national percentiles for safety. Even so, recent trends are mixed: property offenses show year-over-year improvement, while violent offenses have risen. Investors typically address this through operational focus on lighting, access control, and partnerships with community resources to support resident peace of mind.
Nearby anchor employers in manufacturing and building materials provide a stable employment base that can support renter demand and commute convenience. Notable names include Dana corporate operations, Owens Corning, and Owens-Illinois.
- Dana Holding Corporation — corporate offices (4.98 miles)
- Owens Corning — building materials HQ (5.5 miles) — HQ
- Dana — corporate offices (8.7 miles)
- Dana Holding — corporate offices (8.7 miles) — HQ
- Owens-Illinois — glass packaging HQ (10.8 miles) — HQ
This 48-unit, 1978-vintage property offers a pragmatic value-add path in an inner-suburban location with strong daily-needs access and attainable rent positioning. Neighborhood occupancy trends in the mid-80s highlight the importance of hands-on asset management, while the 3-mile radius points to rising household counts and smaller household sizes that can expand the renter pool and support leasing stability.
According to CRE market data from WDSuite, the neighborhood’s grocery and restaurant access is competitive within the metro, and rent levels relative to income support retention and measured pricing actions. With targeted renovations and operational execution, the asset can compete effectively against newer stock while maintaining appeal to cost-conscious renters.
- Inner-suburban location with strong daily-needs access supporting leasing and retention
- 1978 vintage presents value-add and systems modernization upside
- 3-mile outlook shows household growth and smaller household sizes, expanding the tenant base
- Attainable rents versus local incomes aid occupancy stability and renewal capture
- Risk: neighborhood safety and mid-80s occupancy require proactive management and security focus