This Multifamily Property is no longer advertised on LoopNet.com.
5339 Secor Rd
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
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
SITE AMENITIES
PROPERTY TAXES
Parcel Number
23-36181
Improvements Assessment
$275,520
Land Assessment
$14,980
Total Assessment
$290,500
ZONING
Zoning Code
10-IL (Limited Industrial)
