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5311 N. Detroit Apartments 5311 N Detroit Ave 24 Unit Apartment Building $1,632,612 CAD ($68,025 CAD/Unit) 10.94% Cap Rate Toledo, OH 43612
Investment Highlights
- 24-unit multifamily property with all one-bedroom, one-bath layouts.
- Located near downtown Toledo, major freeways, and the Chrysler Assembly Plant.
- On-site parking for 36 vehicles and low-maintenance design with no interior common areas.
- Fully occupied with occupancy history typical for the market.
- Within 14 minutes of the University of Toledo and near major employment hubs.
- In-place NOI of $131,257, offering stable income and operational efficiency.
Executive Summary
This 24-unit multifamily property at 5311 N Detroit Avenue offers an exceptional opportunity for investors seeking stabilized income in a well-connected Toledo location. The asset features all one-bedroom, one-bath units with no interior common areas, minimizing maintenance costs and enhancing operational efficiency. The property has shown consistent occupancy, supported by a strong nearby employment base and proximity to major regional corridors.
Situated minutes from downtown Toledo, the University of Toledo, and the Chrysler Assembly Plant, this property is ideally positioned to attract tenants seeking easy access to work and education. The site benefits from connectivity to I-75 and I-280, offering rapid access to the city and regional markets. Supporting infrastructure includes 36 parking spaces (1.5 per unit) and through-wall permanent air conditioning units.
With an in-place NOI of $131,257, this turn-key investment offers immediate cash flow with operational stability. The building’s brick exterior, updated interiors with LVP flooring, and efficient layouts make it an attractive long-term hold in a strong rental market. Investors will appreciate its favorable fundamentals and central location within a high-demand rental corridor.
Situated minutes from downtown Toledo, the University of Toledo, and the Chrysler Assembly Plant, this property is ideally positioned to attract tenants seeking easy access to work and education. The site benefits from connectivity to I-75 and I-280, offering rapid access to the city and regional markets. Supporting infrastructure includes 36 parking spaces (1.5 per unit) and through-wall permanent air conditioning units.
With an in-place NOI of $131,257, this turn-key investment offers immediate cash flow with operational stability. The building’s brick exterior, updated interiors with LVP flooring, and efficient layouts make it an attractive long-term hold in a strong rental market. Investors will appreciate its favorable fundamentals and central location within a high-demand rental corridor.
Property Facts
| Price | $1,632,612 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $68,025 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.67 AC |
| Cap Rate | 10.94% | Building Size | 13,680 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.63/1,000 SF |
| Zoning | CR, Toledo - Designated for larger-scale commercial activities that serve a regional market, such as shopping centers, large retail stores, etc. | ||
| Price | $1,632,612 CAD |
| Price Per Unit | $68,025 CAD |
| Sale Type | Investment |
| Cap Rate | 10.94% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.67 AC |
| Building Size | 13,680 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.63/1,000 SF |
| Zoning | CR, Toledo - Designated for larger-scale commercial activities that serve a regional market, such as shopping centers, large retail stores, etc. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Carpet
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 570 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 22-53351 | Improvements Assessment | $191,376 CAD |
| Land Assessment | $6,095 CAD | Total Assessment | $197,471 CAD |
Property Taxes
Parcel Number
22-53351
Land Assessment
$6,095 CAD
Improvements Assessment
$191,376 CAD
Total Assessment
$197,471 CAD
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5311 N. Detroit Apartments | 5311 N Detroit Ave
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