5339 Secor Rd | Toledo, OH 43623
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5339 Secor Rd
Toledo, OH 43623
Diplomat Place · Multifamily Property For Sale · 28 Units
Investment Highlights
- Low-rise apartment community centrally located in the Franklin Park neighborhood of Toledo.
- Diplomat Place Apartments presents a value-add play for new ownership by improving occupancy levels and improving operating inefficiencies.
- At the current valuation, this investment opportunity boasts a 17.41% 10 YR IRR, 11.69% average cash on cash, and a 3.65x equity multiple.
- The location is 4.5 miles from The University of Toledo, 3.8 miles from GM & North Towne Commons, and 4.4 miles from Promedica Hospital Campus.
- Within a three-mile radius, the Housing Affordability Index equates to 194, suggesting that the subject property's population is not rent-burdened.
- Retail and entertainment are nearby, only 2.5 miles from Franklin Park Mall, 2.4 miles from Westgate Commercial Corridor, and 7.5 miles to downtown.
PROPERTY FACTS
| No. Units | 28 | Building Size | 17,996 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low Rise | Year Built | 1967 |
| Building Class | C | Parking Ratio | 1.07/1,000 SF |
| Lot Size | 0.95 AC |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 17,996 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.07/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
PROPERTY TAXES
| Parcel Number | 23-36181 | Improvements Assessment | $275,520 |
| Land Assessment | $14,980 | Total Assessment | $290,500 |
PROPERTY TAXES
Parcel Number
23-36181
Land Assessment
$14,980
Improvements Assessment
$275,520
Total Assessment
$290,500
zoning
| Zoning Code | 10-IL |
| 10-IL |
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