Diplomat Place 5339 Secor Rd 28 Unit Apartment Building $1,869,140 CAD ($66,755 CAD/Unit) 8.48% Cap Rate Toledo, OH 43623
INVESTMENT HIGHLIGHTS
- Roof replaced in 2021
- Multiple units have been remodeled including bathrooms and kitchens
- Multiple units have new stoves, refrigerators and ACs
- Approximately $150,000 in updates, remodels, and capital improvements
EXECUTIVE SUMMARY
The seller acquired this property in 2021. The previous owner neglected the property and made no reinvestments. Since purchasing, the current owner has invested approximately $150,000 in improvements, including renovated units, new appliances, carpeting, and more. Roof replaced in 2021.
This presents an opportunity for a new buyer to complete the remaining upgrades and bring the building to its full potential.
This presents an opportunity for a new buyer to complete the remaining upgrades and bring the building to its full potential.
PROPERTY FACTS
| Price | $1,869,140 CAD |
| Price Per Unit | $66,755 CAD |
| Sale Type | Investment |
| Cap Rate | 8.48% |
| 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 | 95% |
| 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
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | 586 - 750 |
| 2+1 | 4 | - | 983 |
PROPERTY TAXES
| Parcel Number | 23-36181 | Improvements Assessment | $396,143 CAD |
| Land Assessment | $21,538 CAD | Total Assessment | $417,681 CAD |
ZONING
| Zoning Code | 10-IL |
