3414 Dorr StToledo, OH 43607

Property Details for 3414 Dorr St

Year built

1967

Lot size

5.96 AC

Property size (Sq ft)

122,518 SF

Zone code

10-CR

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

20-02454

APU

2002454

Description

This exceptional multifamily investment opportunity presents a 137-unit apartment building situated on a 5.57-acre lot at 3414 Dorr St, Toledo, OH 43607. The property, built in 1967 and zoned Regional Commercial-CR (APN 2002454), boasts a total square footage of 122,518. The unit mix primarily consists of one- and two-bedroom apartments, with approximately 75% recently renovated, featuring updated paint, flooring, and appliances. Significant improvements have been made in recent years, including roof replacement and parking lot resurfacing within the last three years. In addition to the residential units, the property includes roughly 3,000 square feet of commercial space with prominent Dorr Street frontage. While not specifically marketed towards students, the property currently houses a mix of market-rate tenants and students on one-year leases, with a substantial number of long-term residents. This presents a strong foundation for continued success and potential for further value enhancement. The property's location in Lucas County offers excellent access to amenities and transportation. This is a rare opportunity to acquire a well-maintained, high-occupancy multifamily asset with significant upside potential in a thriving Toledo market.

• CAP approach

  CAP return

  Valuation

  6%

  $26,007,270

  6.5%

  $24,006,710

  7%

  $22,291,944

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,763,518

  Geo Method

  $17,763,518

• Alternative Use

  Use

  Valuation

  Residential

  $24,006,710

  Hospitality

  $21,990,018

  Educational

  $18,295,436

  Medical

  $18,924,644

  Retail

  $28,459,568

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.654

Longitude

-83.6245

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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