Four-Unit Multifamily
For Sale
$650,000
4839 Wickford Dr E, Sylvania, OH 43560
Four fully occupied 3-bedroom units with individually metered utilities and tenant laundry hookups.
Property Size7,200 SF
Price / SF$90.28
Days on Market72
Property Features for 4839 Wickford Dr E
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
8
Property subtype
Multifamily
Zoning
R-3
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
Laundry Hookups
Pet Friendly
Two Entryways
Patio Spaces & Covered Storage Shed
Stove and Fridge for Each Unit
Individually Metered Units
Building Details
Building Size
7,200 SF
Year Built
1965
Listing Agency:
SVN Ascension
(419) 276-1236
Listed By:
Doug Wright, CCIM · License #OH #BRKA.2001001738
(419) 276-1236
Source:
Svn-acre
Added: Jun 2
Changed: Aug 8
Last Checked: Aug 12 at 4:06AM
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 SVN Ascension
Investment Insights
Based on property information with market context.
This 7,200 SF multifamily property is comprised of four 1,800 SF units, each offering three bedrooms and 1.5 bathrooms. The units are individually metered and include stove and refrigerator in each unit. Additional on-site features include in-unit laundry hookups, two entryways, patio space, and covered storage shed. The property offers pet-friendly accommodations and includes eight surface-level parking spaces.
The building is located in the heart of Sylvania, Ohio, about 1.5 miles from the US-23 South interchange and just southwest of Toledo Flower Hospital. Current tenants are in place, with all units on month-to-month leases. Zoning is listed as R-3.
The building is located in the heart of Sylvania, Ohio, about 1.5 miles from the US-23 South interchange and just southwest of Toledo Flower Hospital. Current tenants are in place, with all units on month-to-month leases. Zoning is listed as R-3.
Key Highlights
- 7,200 SF multifamily property in Sylvania, OH built in 1965
- Four 1,800 SF units, each with 3 bedrooms and 1.5 baths
- All units are fully occupied with tenants on month‑to‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,977
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,159,540
$1.2M
Cap Rate 7%
$828,243
$828.2K
Cap Rate 9%
$644,189
$644.2K
Market Conditions
NOI Build-Up for 7,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.0K $12.36/SF
− Vacancy
−$6.2K −$0.86/SF
EGI
$82.8K $11.50/SF
− OpEx
−$24.8K −$3.45/SF
NOI
$58.0K $8.05/SF
Area
Lucas County, OH
Vacancy
6.93%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,159,540
Cap Rate 7%
$828,243
Cap Rate 9%
$644,189
Alternative Uses
Best Use
Multifamily LT 5
$828.2K
$724.7K – $966.3K
NOI $57,977 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$723.7K
$633.2K – $844.3K
NOI $50,659 @ 7.0% cap · market cap 7.79%
Theoretical Best
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,243 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Explore this area
Business Placement
Demographics for 43560, OH
34,204
Population
13,107
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
98%
High-School Grad
21.2 sq mi
ZIP Area
1,613
Density / Sq Mi
$104,865
Median Household Income
$59,940
Median Earnings
$1,102
Median Rent
$262,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four fully occupied 3-bedroom units with individually metered utilities and tenant laundry hookups.
Where is this quadplex located?
The property is located at 4839 Wickford Dr E Sylvania, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 7,200 SF multifamily property in Sylvania, OH built in 1965; Four 1,800 SF units, each with 3 bedrooms and 1.5 baths; All units are fully occupied with tenants on month‑to‑month leases
