| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 E Woodruff Ave, Toledo, OH, 43620, US |
| Region / Metro | Toledo |
| Year of Construction | 1987 |
| Units | 54 |
| Transaction Date | 2016-04-01 |
| Transaction Price | $3,162,500 |
| Buyer | BEACON PLACE USA LLC |
| Seller | GOODELL JOSEPH E |
401 E Woodruff Ave Toledo Multifamily Investment
Positioned in Toledo s inner-suburb rental corridor, the property benefits from a deep renter base and proximity to daily-needs retail, according to WDSuite s CRE market data. Neighborhood occupancy trends are softer than metro norms, so consistent operations and value-focused leasing will be central to performance.
Livability centers on convenience to essentials: the neighborhood scores competitive among the 244 Toledo neighborhoods for overall amenities, with grocery and pharmacy access in the top quartile nationally. Restaurants, cafes, parks, and childcare are limited locally, so resident appeal leans more toward everyday retail than lifestyle offerings.
The asset was built in 1987, notably newer than the neighborhood s early-20th-century housing stock. That vintage can provide a competitive edge versus older buildings, while still warranting selective system updates or common-area refreshes to support retention and reduce capital surprises.
Renter-occupied housing is a sizable share of local units, indicating a broad tenant pool and steady leasing demand for multifamily operators. At the same time, the neighborhood s occupancy rate trails stronger submarkets, which suggests investors should underwrite to pragmatic lease-up and renewal assumptions and emphasize resident services to sustain occupancy.
Within a 3-mile radius, demographic data show recent population slippage but a projected expansion in households over the next five years, pointing to more, smaller households and a potential renter pool expansion that can support occupancy stability. Median incomes have been rising from a low base, and forecast gains alongside moderate rent growth point to incremental improvement; investors should still monitor affordability pressure and tailor unit mix and pricing accordingly.
Ownership costs remain relatively accessible in this part of Toledo, which can create some competition from entry-level ownership. For multifamily, that dynamic typically favors value-oriented properties where rent levels compare well against monthly ownership costs, supporting lease retention and reducing move-out risk.
Safety indicators remain a watchpoint relative to both the metro and national norms. The neighborhood ranks in the lower tier for crime among 244 Toledo neighborhoods and falls below national safety percentiles, signaling elevated incident rates compared with many U.S. areas.
Recent momentum is directionally positive: violent offense rates have declined year over year, and property offenses have also eased, according to WDSuite s CRE market data. Investors often address this backdrop through lighting, access controls, vendor coordination, and resident engagement, with underwriting that assumes continued vigilance rather than rapid change.
Proximity to established manufacturers and corporate offices supports workforce housing demand and commute convenience for residents. Nearby anchors include Owens Corning, Dana Holding Corporation and related Dana offices, and Owens Illinois.
- Owens Corning building materials HQ (1.1 miles) HQ
- Dana Holding Corporation automotive components (3.1 miles)
- Dana automotive components (10.2 miles)
- Dana Holding automotive components (10.2 miles) HQ
- Owens Illinois glass & packaging (10.7 miles) HQ
401 E Woodruff Ave is a 54 unit, mid-1980s vintage asset positioned to capture workforce demand in an inner-suburb submarket with strong access to daily needs retail and major employers. The 1987 construction is newer than much of the surrounding housing stock, supporting competitive positioning with targeted renovations. While neighborhood occupancy runs softer, a high concentration of renter-occupied units suggests a deep tenant base; disciplined leasing and resident experience can help sustain performance.
Based on CRE market data from WDSuite, neighborhood operating trends point to value-oriented strategies: rents track below national levels, ownership costs are relatively accessible, and safety metrics require active management despite recent improvement. Near-term upside centers on pragmatic upgrades, affordability-aware pricing, and operational focus, with risk controls around crime, lease management, and economic sensitivity.
- 1987 vintage offers competitive edge versus older local stock with selective capex for systems and common areas
- Deep renter base supports leasing; focus on renewals to offset softer neighborhood occupancy
- Workforce demand bolstered by nearby corporate employers and everyday retail access
- Value-oriented positioning and affordability-aware pricing can drive retention and steady cash flow
- Risks: below-average safety metrics and economic sensitivity; mitigate with security measures, conservative underwriting, and resident engagement