4-Unit Apartment
New
For Sale
$385,000
1835 Middlesbrough Ct, Maumee, OH 43537
The two-story property contains four occupied apartments with separately metered utilities.
Property Size4,200 SF
Price / SF$91.67
Days on Market3
Property Features for 1835 Middlesbrough Ct
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Multifamily
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Amenities
carport
surface parking
patio/balcony
washer/dryer
Building Details
Building Size
4,200 SF
Year Built
1978
Buildings
1
Stories
2
Listed By:
Doug Wright, CCIM · License #OH #BRKA.2001001738
(419) 276-1236
Source:
Svn-acre
Added: Oct 30
Last Checked: Nov 1 at 2:42AM
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.
This 4,200-square-foot, two-story apartment property was built in 1978 and contains four units on just under half an acre. The building is fully occupied. One described apartment measures 900 square feet and has two bedrooms, one bathroom, and a patio or balcony. Listed unit features also include a range, refrigerator, microwave, washer and dryer, with carport and surface parking available. Utilities are separately metered; tenants pay all utilities except water, and pets are allowed.
The property is in Maumee School District, near the Reynolds Road and Dussel Drive retail corridor and Arrowhead Business Park. The I-80/90 turnpike tollgate is 1/2 mile away, and the I-475 interchange is just under 2 miles away. Maumee also offers river recreation, Side-Cut Metropark, employment centers, and healthcare facilities.
The property is in Maumee School District, near the Reynolds Road and Dussel Drive retail corridor and Arrowhead Business Park. The I-80/90 turnpike tollgate is 1/2 mile away, and the I-475 interchange is just under 2 miles away. Maumee also offers river recreation, Side-Cut Metropark, employment centers, and healthcare facilities.
Key Highlights
- 4,200‑square‑foot, two‑story building with four apartments
- Fully occupied; built in 1978 on just under half an acre
- One described unit is 900 square feet, with 2 bedrooms, 1 bath, and a patio or balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,820
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,400
$676.4K
Cap Rate 7%
$483,143
$483.1K
Cap Rate 9%
$375,778
$375.8K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$51.9K $12.36/SF
− Vacancy
−$3.6K −$0.86/SF
EGI
$48.3K $11.50/SF
− OpEx
−$14.5K −$3.45/SF
NOI
$33.8K $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 Rate 5%
$676,400
Cap Rate 7%
$483,143
Cap Rate 9%
$375,778
Alternative Uses
Best Use
Multifamily LT 5
$483.1K
$422.8K – $563.7K
NOI $33,820 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$422.2K
$369.4K – $492.5K
NOI $29,551 @ 7.0% cap · market cap 7.68%
Theoretical Best
Specialty Retail
$768.7K
$672.6K – $896.8K
NOI $53,808 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
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Business Placement
Demographics for 43537, OH
29,075
Population
13,071
Households
2.2
Avg Household Size
44
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
1,563
Density / Sq Mi
$85,919
Median Household Income
$49,020
Median Earnings
$1,017
Median Rent
$235,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - The two-story property contains four occupied apartments with separately metered utilities.
Where is this quadplex located?
The property is located at 1835 Middlesbrough Ct Maumee, OH.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 4,200‑square‑foot, two‑story building with four apartments; Fully occupied; built in 1978 on just under half an acre; One described unit is 900 square feet, with 2 bedrooms, 1 bath, and a patio or balcony
