For Sale
$275,000

707 Phillips Ave Toledo, OH 43612

Five-unit apartment building, excellent income.

Overview

Added:
Dec 11, 2024
Days on market:
135
This two-story, 9,104 square foot apartment building located at 707 Phillips Avenue in Toledo, Ohio, presents a compelling investment opportunity. Built in 1929 and situated on a 0.199-acre lot, the property features five units, generating strong rental income. The first floor offers two sizable commercial spaces totaling 3,800 square feet. One space, 2,000 square feet, boasts a renovated office, two grade-level doors, a restroom, and a 20-foot floor drain, currently vacant. The other, a 1,800 square foot space, includes a finished office and two bathrooms, and is currently leased. This space is separated from the first by a back lot. The second floor comprises three 600-square-foot apartments, each with its own private garage and currently leased. Two of these apartments underwent renovations in 2021, including new appliances, and one features a sunroom. The building's limited industrial zoning allows for a multitude of uses for the first-floor commercial spaces. The asking price is $275,000, translating to $32.95 per square foot. This property offers a blend of commercial and residential income streams, making it an attractive addition to any investment portfolio. The property is located in Lucas County, Ohio, zip code 43612.

Highlights

  • High-traffic location on Phillips Avenue with excellent visibility.
  • Recently renovated interior featuring modern finishes and updated systems.
  • Ample on-site parking available for tenants and customers.
  • Flexible floor plan adaptable to various business needs.
  • Strong tenant base with long-term leases in place.
  • Prime location in a thriving commercial district with high foot traffic.

Property Details for 707 Phillips Ave

Property type
Investment properties, Apartment buildings
Square Feet
9,104 SF
Year Built
1929
Stories
2
Lot Size (sq. ft)
8,668 SF
Units
5

Location Insight

City
Toledo
County
Lucas
State
Ohio
Latitude
41.691312603738
Longitude
-83.560958927982

FAQs

What type of property is this?
Investment property - Five-unit apartment building, excellent income.
Where is the investment property located?
The property is located at 707 Phillips Ave Toledo, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: High-traffic location on Phillips Avenue with excellent visibility.; Recently renovated interior featuring modern finishes and updated systems.; Ample on-site parking available for tenants and customers.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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707 Phillips Ave
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