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Gibbs Street Apartments 811-923 Gibbs St 42 Unit Apartment Building $2,730,000 ($65,000/Unit) 8.06% Cap Rate Maumee, OH 43537
Executive Summary
This offering presents a rare opportunity to acquire a well-maintained 42-unit apartment community in the heart of Maumee, Ohio. Comprising seven brick ranch-style buildings, the property features gable roofs, central air, and separately metered gas-forced heating systems, ensuring both operational efficiency and tenant comfort. Recently refreshed with a painted exterior in 2025, this asset is positioned for long-term value and stable returns.
Situated minutes from Conant Street and Indiana Avenue, the property enjoys strong connectivity to Maumee’s retail, dining, and employment corridors. The unit mix consists entirely of one-bedroom apartments, each equipped with full kitchens including stoves and refrigerators. Shared laundry facilities with leased equipment further support resident convenience.
This income-generating asset offers an attractive investment profile, supported by established rent rolls and steady operating performance. Offered at $2,730,000, this portfolio stands out as a reliable addition to any multifamily investor’s portfolio in a market with consistent demand and minimal new supply.
Situated minutes from Conant Street and Indiana Avenue, the property enjoys strong connectivity to Maumee’s retail, dining, and employment corridors. The unit mix consists entirely of one-bedroom apartments, each equipped with full kitchens including stoves and refrigerators. Shared laundry facilities with leased equipment further support resident convenience.
This income-generating asset offers an attractive investment profile, supported by established rent rolls and steady operating performance. Offered at $2,730,000, this portfolio stands out as a reliable addition to any multifamily investor’s portfolio in a market with consistent demand and minimal new supply.
Property Facts
| Price | $2,730,000 | Apartment Style | Garden |
| Price Per Unit | $65,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 8.06% | Building Size | 53,938 SF |
| No. Units | 42 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1967/2022 |
| Property Subtype | Apartment | Parking Ratio | 2.08/1,000 SF |
| Zoning | 16-R3 | ||
| Price | $2,730,000 |
| Price Per Unit | $65,000 |
| Sale Type | Investment |
| Cap Rate | 8.06% |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 53,938 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1967/2022 |
| Parking Ratio | 2.08/1,000 SF |
| Zoning | 16-R3 |
Amenities
Unit Amenities
- Disposal
- Heating
- Kitchen
- Refrigerator
- Carpet
- Vinyl Flooring
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 42 | - | 750 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $488,250 | |
| Land Assessment | $66,045 | Total Assessment | $554,295 |
Property Taxes
Parcel Numbers
Land Assessment
$66,045
Improvements Assessment
$488,250
Total Assessment
$554,295
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Gibbs Street Apartments | 811-923 Gibbs St
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