Apartment Buildings Near
For Sale
$3,995,000
1119 & 1133 N Byrne Rd, Toledo, OH 43607
Seventeen-unit multifamily property with varied layouts and on-site parking near the University of Toledo.
Property Size43,277 SF
Lot Size3.76 Acres
Price / SF$92.31
Days on Market132
Property Features for 1119 & 1133 N Byrne Rd
General Information
Standard status
Active
Size
43,277 SF
Lot size
3.76 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
17
Amenities
picnic tables
fire pits
grills
on-site parking
security lighting
range
refrigerator
dishwasher
washer
dryer
garbage disposal
alarm system
Building Details
Building Size
43,277 SF
Year Built
2004
Listed By:
Doug Wright, CCIM · License #OH #BRKA.2001001738
(419) 276-1236
Source:
Svn
Added: Jun 7
Changed: Oct 14
Last Checked: Oct 14 at 9:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Doug Wright, CCIM
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Investment Insights
Based on property information with market context.
Forest Creek Town Homes is a 43,277 SF multifamily complex on 3.76 acres, built in 2004. The property includes 17 units with 99 beds, along with a maintenance building. Unit sizes range from 2,600 SF to 2,700 SF, with layouts including three-bedroom/two-bath and six-bedroom configurations with 2.5 or 3.5 baths. Each unit includes a range, refrigerator, dishwasher, washer, dryer, garbage disposal, and alarm system.
The grounds include open green space, landscaped areas, a small creek, picnic tables, fire pits, and grills. On-site parking is supported by security lighting throughout the property. The complex is adjacent to the signalized intersection of N Byrne Rd and Dorr St, between the I-475/Dorr St interchange and downtown Toledo, and within walking distance of the University of Toledo. Reported VPD is 33,750 on Dorr St and 19,792 on N Byrne Rd, both recorded in 2025.
The grounds include open green space, landscaped areas, a small creek, picnic tables, fire pits, and grills. On-site parking is supported by security lighting throughout the property. The complex is adjacent to the signalized intersection of N Byrne Rd and Dorr St, between the I-475/Dorr St interchange and downtown Toledo, and within walking distance of the University of Toledo. Reported VPD is 33,750 on Dorr St and 19,792 on N Byrne Rd, both recorded in 2025.
Key Highlights
- 43,277 SF multifamily complex with 99 beds across 17 units plus a maintenance building
- 3.76‑acre property built in 2004
- Unit sizes range from 2,600 SF to 2,700 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$364,690
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,293,800
$7.3M
Cap Rate 7%
$5,209,857
$5.2M
Cap Rate 9%
$4,052,111
$4.1M
Market Conditions
NOI Build-Up for 43,277 SF
Gross rent
$690.7K $15.96/SF
− Vacancy
−$27.6K −$0.64/SF
EGI
$663.1K $15.32/SF
− OpEx
−$298.4K −$6.89/SF
NOI
$364.7K $8.43/SF
Area
Toledo, OH
Vacancy
4.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,293,800
Cap Rate 7%
$5,209,857
Cap Rate 9%
$4,052,111
Alternative Uses
Best Use
Apartment 5plus
$5.21M
$4.56M – $6.08M
NOI $364,690 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.20M
$6.30M – $8.40M
NOI $504,160 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
17
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
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Business Placement
Demographics for 43607, OH
20,494
Population
10,568
Households
1.9
Avg Household Size
34
Median Age
22%
College-Educated
89%
High-School Grad
7.2 sq mi
ZIP Area
2,846
Density / Sq Mi
$37,442
Median Household Income
$23,208
Median Earnings
$881
Median Rent
$73,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Seventeen-unit multifamily property with varied layouts and on-site parking near the University of Toledo.
Where is this apartment building located?
The property is located at 1119 & 1133 N Byrne Rd Toledo, OH.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 43,277 SF multifamily complex with 99 beds across 17 units plus a maintenance building; 3.76‑acre property built in 2004; Unit sizes range from 2,600 SF to 2,700 SF
