Listed by SVN Ascension Commercial Realty
$3,995,000
Forest Creek Town Homes
Details
APN 2004617, 2004614
Property Type Multifamily
Sub Type Student Housing
Square Footage 43,277
Units 99
Beds 99
Cap Rate 7.45%
NOI $297,607
Tenancy Multi
Pro-Forma Cap Rate 8.88%
Pro-Forma NOI $354,582
Price per SqFt $92
Year Built 2004
Year Renovated 2024
Buildings 17
Acreage 3.762
Zoning RM Multi-Family Residence
Multifamily | 7.45% CAP | 99 Units
Marketing description
Forest Creek Town Homes is a well maintained, 43,277 SF student housing community comprised 99 beds across 17 units plus maintenance building. The 3.76 acre property is a beautifully landscaped park like setting, featuring ample open green space and a small creek with outdoor amenities such as picnic tables, fire pits and grills. Prime location adjacent to the signalized intersection of N Byrne Rd and Dorr St, both main Toledo thoroughfares, between the I-475/Dorr St interchange and downtown Toledo. Within walking distance to University of Toledo, providing a steady flow of potential student tenants.
Investment highlights
- Optimized blend of unit sizes ranging from 2,600 SF to 2,700 SF
- Excellent mix of unit layouts including 1 bed / 1 bath, 3 bed/2 bath, 6 bed/2.5 bath, 6 bed/3.5 bath, and 6-7 bed/3.5 bath options
- Ample on-site parking with security lighting throughout
- All units contain range, refrigerator, dishwasher, washer, dryer, garbage disposal, and alarm system
- Tenants responsible for central air, gas forced heat, electric, water, and sewer
- VPD's: Dorr St- 33,750 (25), N Byrne Rd- 19,792 (25)
Listing Contacts
Listed by SVN Ascension Commercial Realty
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$297,607.00
$24,800.58/mo
Valuation Metrics
0
DSCR
7.45%
Cap Rate
7.45%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Name
License
Brokerage
Title
Brokerage Address
Is there information that looks off?
