60 Unit - Multi-Family - Receiver Directed Sale
2135 Stirrup Lane, Toledo, OH 43613
$1,150,000
60
45,518 SF
$19,166.67
Multifamily
Garden/Low-Rise
Investment
Yes
85%
2
1973
2.13 AC
23-60134
-
Find Out More...
Last Verified 1/28/2010
Listing ID 16323521
Description
This sale offering is being made under distressed circumstances. The court has placed the property with a receiver who is offering the property for sale, as is, where is.
The property represents a value add, turnaround opportunity. With selected capital expenditures, opportunity exists to enhance the property' s overall performance.
The property is located adjacent to three well maintained, attractive apartment complexes (72 units, 88 units and 266 units). The area in which the properties are located is secluded, quiet and surrounded by large, mature trees creating a pleasant environment. The property' s location is desirable.
The market rental rates at the three adjacent apartment complexes are significantly higher than those of Fox Run. The occupancy rates of the neighboring properties are 98%, 92% and 90%. With capital upgrades, the opportunity exists for increasing rental rates at Fox Run.
For more information, please visit pcg.cbre.com/pcg-invite/5757.
Proforma
$298,800
$282,047
$180,257
$101,790
$85,290
| Description | No. Units | Avg. Mo. Rent | Sq. Ft. |
|---|
| One Bed/One Bath | 36 | $375 | 661 |
| Two Bed/One Bath | 24 | $475 | 850 |
Map of 2135 Stirrup Lane, Toledo, OH 43613 (Lucas County)
Brokerage Firm
CB Richard Ellis Reichle Klein
Created 7/20/2009
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.