Log In/Sign Up
Your email has been sent.
Hidden Village Square 2822-2846 Eldora Dr 72 Unit Apartment Building $3,675,000 ($51,042/Unit) 8.42% Cap Rate Toledo, OH 43613
Investment Highlights
- Many Capital improvements
- 72 one bedroom units
Executive Summary
The seller purchased this property in 2021. Prior ownership had neglected the asset and made no reinvestments. Since acquisition, the current owner has invested approximately $515,000 in higher-than-normal maintenance costs and has required substantial capital improvements, including unit renovations, new appliances, updated flooring and carpeting, HVAC replacements, common hallway updates and other enhancements.
On the expense side, we have provided a proforma for maintenance. Many units required more than the typical $400-$1,000 turnover, with significant work completed across the property. To date, approximately 52 of the 72 units have been renovated since 2021.
This creates an opportunity for a new buyer to complete the remaining improvements and realize the property's full potential.
Property consist of 72 one bedroom units.
On the expense side, we have provided a proforma for maintenance. Many units required more than the typical $400-$1,000 turnover, with significant work completed across the property. To date, approximately 52 of the 72 units have been renovated since 2021.
This creates an opportunity for a new buyer to complete the remaining improvements and realize the property's full potential.
Property consist of 72 one bedroom units.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$640,391
|
$8.89
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$331,131
|
$4.60
|
| Net Operating Income |
$309,260
|
$4.30
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $640,391 |
| Annual Per SF | $8.89 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $331,131 |
| Annual Per SF | $4.60 |
| Net Operating Income | |
|---|---|
| Annual | $309,260 |
| Annual Per SF | $4.30 |
Property Facts
| Price | $3,675,000 | Building Class | C |
| Price Per Unit | $51,042 | Lot Size | 2.88 AC |
| Sale Type | Investment | Building Size | 72,000 SF |
| Cap Rate | 8.42% | Average Occupancy | 96% |
| No. Units | 72 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2012 |
| Property Subtype | Apartment | Parking Ratio | 2.69/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RM-36/CR - Multi-Dwelling Residential - 36 Units Per Acre/Regional Commercial | ||
| Price | $3,675,000 |
| Price Per Unit | $51,042 |
| Sale Type | Investment |
| Cap Rate | 8.42% |
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.88 AC |
| Building Size | 72,000 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2012 |
| Parking Ratio | 2.69/1,000 SF |
| Zoning | RM-36/CR - Multi-Dwelling Residential - 36 Units Per Acre/Regional Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 72 | - | 594 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $559,055 (2025) | |
| Land Assessment | $52,535 (2025) | Total Assessment | $611,590 (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$52,535 (2025)
Improvements Assessment
$559,055 (2025)
Total Assessment
$611,590 (2025)
1 of 36
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Hidden Village Square | 2822-2846 Eldora Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.