| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 20th | Poor |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 452 Southcrest St, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2025-08-04 |
| Transaction Price | $552,200 |
| Buyer | HIGHLAND CREST 2023 LLC |
| Seller | HIGHLAND CREST OWNER LLC |
452 Southcrest St Toledo Multifamily Value-Add Opportunity
Renter concentration is high in the surrounding neighborhood and occupancy has improved in recent years, supporting a stable tenant base, according to WDSuite’s CRE market data. A 1985 vintage positions the asset as newer than much of the local housing stock, with potential to compete well after targeted upgrades.
This inner-suburb location in Toledo offers everyday conveniences that support resident retention. Grocery access sits in the top quartile nationally, cafes are competitive among peer areas, and parks are similarly well represented — livability features that matter for leasing and renewals.
Neighborhood comparisons show mixed but investable fundamentals. The share of housing units that are renter-occupied is elevated (about half of units), placing the area in a high national percentile for renter concentration — a positive signal for multifamily demand depth. Overall neighborhood occupancy has trended higher over the past five years, though current levels remain below national norms, indicating room for disciplined operations to capture upside.
Schools rate below national averages and certain services (notably pharmacies and childcare) are thinner than in comparable areas, which may influence family-oriented leasing strategies. Counterbalancing this, the strength in groceries, parks, and cafes compares favorably to many Toledo neighborhoods and to national peers.
Home values are low relative to national benchmarks, which can increase competition from entry-level ownership. At the same time, rent relative to income appears manageable locally, supporting lease retention and moderating turnover risk.
Safety metrics sit below national norms, with violent and property offense rates in lower national percentiles. That said, both categories have declined over the past year, pointing to improving conditions. Investors should consider prudent security budgeting and tenant screening while recognizing the recent downward trend in incidents.
A cluster of nearby corporate offices supports workforce housing demand and commute convenience. The employment base includes Owens Corning, Dana organizations, and Owens-Illinois, providing diversified white- and blue-collar opportunities within a short drive.
- Owens Corning — corporate offices (2.5 miles) — HQ
- Dana Holding Corporation — corporate offices (5.5 miles)
- Dana — corporate offices (7.4 miles)
- Dana Holding — corporate offices (7.4 miles) — HQ
- Owens-Illinois — corporate offices (8.0 miles) — HQ
The 20-unit property’s 1985 construction is materially newer than much of the surrounding housing stock, suggesting competitive positioning against older inventory while leaving room for targeted modernization and value-add. Based on CRE market data from WDSuite, the neighborhood shows an elevated share of renter-occupied housing and improving occupancy trends, supporting demand stability even as overall occupancy remains below national norms.
Within a 3-mile radius, recent years show a modest population dip alongside flat-to-rising household counts, implying smaller household sizes and a steady renter base. Forward-looking projections point to household growth and income gains, which can reinforce leasing fundamentals. Low home values introduce competition from ownership, so underwriting should balance attainable rent positioning with operational efficiency and renovation ROI.
- Newer 1985 vintage versus local stock enables competitive positioning with value-add upside
- High renter-occupied share in the neighborhood supports tenant base depth and leasing stability
- Everyday amenities (groceries, parks, cafes) compare well to peers, aiding retention
- Employers within 2–8 miles provide commute-friendly demand drivers
- Risks: below-national safety metrics, low home values that can compete with renting, and weaker school ratings