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Browse More Listings in Multifamily For Sale, Toledo, OH or Ohio

Multifamily Property For Sale

Coleman Village

5383 Lewis Avenue, Toledo, OH 43612

Price:
$1,550,000
No. Spaces:
84
Price/Space:
$18,452.38
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Cap Rate:
9.10%
Occupancy:
92%
Lot Size:
11.77 AC
Find Out More...

Last Verified 10/30/2009 Listing ID 15849608

Highlights

First time ever offered for sale.
84 pads.
2,185 sf brick duplex with two apartments renovated in 2008.

Excellent cash flow.
9.1% cap rate based on real numbers; even includes a "reserve" for 84 pads.
Owner retiring - priced to sell.

Description

First time ever on the market! Owner/developer retiring.
Virtually no turnover. Well maintained. Low maintenance. High occupancy. Over 40% of tenants have been there over 10 years. Written leases and park rules and restrictions that are enforced. No pets.

Solid, established, working class neighborhood. Located on major north/south Toledo traffic artery. Adjacent to some of Toledo's largest employers - GM Hydramatic plant, Smucker's/Pillsbury plant, and the Teledyne plant. Just down the street from Home Depot, Lowe's, Kroger, Target, and TJ Maxx.

Map of 5383 Lewis Avenue, Toledo, OH 43612 (Lucas County)

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Presented by

Signature Associates/Cushman & Wakefield Alliance Member

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Contact Listing Broker

Stephen Serchuk, CCIM (419) 249-7070

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Created 8/14/2008

Additional Information for 5383 Lewis Avenue, Toledo, OH 43612

Active For Sale - 2 Listings
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Coleman Village

5383 Lewis Avenue, Toledo, OH, 43612