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Garden Ridge Apartments 1819 Garden Ridge Dr 32 Unit Apartment Building $1,875,000 ($58,594/Unit) 9.54% Cap Rate Toledo, OH 43614
EXECUTIVE SUMMARY
32-unit apartment community in Toledo consisting of eight brick/wood buildings with a mix of one- and two-bedroom units (600–900 SF). Utilities are separately metered for gas and electric, with off-street parking and on-site laundry facilities. Since 2022, ownership has invested over $378,000 in upgrades including unit renovations, new appliances, flooring, HVAC replacements, and roof/siding improvements. A well-located property near Glendale and Eastgate offering strong rental demand and reduced future capital needs.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,875,000 | Apartment Style | Garden |
| Price Per Unit | $58,594 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.73 AC |
| Cap Rate | 9.54% | Building Size | 17,990 SF |
| No. Units | 32 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1963 |
| Price | $1,875,000 |
| Price Per Unit | $58,594 |
| Sale Type | Investment |
| Cap Rate | 9.54% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.73 AC |
| Building Size | 17,990 SF |
| Average Occupancy | 97% |
| No. Stories | 1 |
| Year Built | 1963 |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 18 | - | - |
| 2+1 | 14 | - | - |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $329,280 (2024) | |
| Land Assessment | $29,890 (2024) | Total Assessment | $359,170 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$29,890 (2024)
Improvements Assessment
$329,280 (2024)
Total Assessment
$359,170 (2024)
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Garden Ridge Apartments | 1819 Garden Ridge Dr
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