| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 46th | Fair |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 W Alexis Rd, Toledo, OH, 43612, US |
| Region / Metro | Toledo |
| Year of Construction | 1980 |
| Units | 36 |
| Transaction Date | 2019-06-12 |
| Transaction Price | $7,946,000 |
| Buyer | WEST APARTMENTS LTD |
| Seller | R J LLOYD & CO LTD |
405 W Alexis Rd Toledo Multifamily Investment
Neighborhood occupancy sits around the low-90s with comparatively accessible rents, supporting day-to-day leasing stability according to WDSuite’s CRE market data.
The property sits in a B+ rated neighborhood that is competitive among 244 Toledo neighborhoods (ranked near the top 40%). Local livability is serviceable rather than destination-driven: grocery access is strong relative to national peers, while restaurants are adequate; parks and cafes are limited. Childcare and pharmacies are present at practical levels for workforce renters.
Rents in the immediate neighborhood skew lower on a national basis, and the neighborhood s occupancy is around the metro median. That combination points to a pragmatic value position for a renter audience seeking stability over lifestyle premiums. The neighborhood has a modest renter-occupied share of housing units (roughly one-quarter), which can thin the immediate tenant pool; however, within a 3-mile radius the renter base is materially larger, providing a broader draw for leasing.
Within 3 miles, population has grown modestly in recent years and household counts have increased, with smaller average household sizes. Projections indicate further increases in households by 2028, which typically translates into a larger tenant base and supports occupancy stability. Median home values nearby are comparatively low for the U.S., so ownership is more accessible than in high-cost markets; for investors, that means rental housing competes more on convenience, product quality, and management than on price barriers to owning.
Vintage also matters: built in 1980, the asset is newer than the neighborhood s average housing stock. That generally supports competitive positioning versus older properties, while still warranting capital planning for aging systems or targeted modernization. For deeper multifamily property research, local rent-to-income dynamics read as relatively affordable, which can aid lease retention but may moderate near-term rent growth.
Safety indicators for the neighborhood trail the metro average and sit below national norms, signaling elevated crime exposure compared with many U.S. neighborhoods. That said, recent data show year-over-year declines in both violent and property offenses, suggesting a directional improvement. Investors should underwrite with conservative assumptions, emphasize lighting and access controls, and leverage local police data trends for context over time rather than single-year snapshots.
Nearby employers provide a diversified industrial and corporate backbone that supports workforce housing and commute convenience for residents. Key anchors within driving distance include Dana, Owens Corning, and Owens-Illinois.
- Dana Holding Corporation industry/role: corporate offices (1.4 miles)
- Owens Corning industry/role: corporate offices (5.3 miles) HQ
- Dana industry/role: corporate offices (12.8 miles)
- Dana Holding industry/role: corporate offices (12.8 miles) HQ
- Owens-Illinois industry/role: corporate offices (14.2 miles) HQ
This 36-unit, 1980-vintage community offers a value position in a neighborhood with median-level occupancy and nationally lower rent levels, supporting day-to-day leasing and retention. The asset is newer than much of the surrounding housing stock, which can help it compete on functionality while leaving room for targeted renovations to drive rent premiums. Within a 3-mile radius, modest population growth and an increase in households point to a gradually expanding renter pool, reinforcing occupancy stability as management focuses on product quality and service.
Home values in the area are comparatively low for the U.S., so ownership is relatively accessible; pricing power will hinge on convenience, turn quality, and operations rather than ownership constraints. According to CRE market data from WDSuite, neighborhood-level rents and rent-to-income conditions read as relatively affordable, which supports retention but argues for disciplined expense control and selective value-add to capture incremental revenue.
- 1980 vintage newer than local average, offering competitive positioning with targeted modernization upside.
- Median neighborhood occupancy and modest 3-mile household growth support stable leasing and retention.
- Accessible rents and workforce orientation align with steady demand, per WDSuite s commercial real estate analysis.
- Risks: lower renter concentration immediately around the asset, elevated crime relative to metro, and competition from accessible homeownership.