Brick Quadplex with
For Sale
Contact for pricing
3965 Hillandale Road, Toledo, OH 43606
The apartment layout combines two-bedroom homes, dens, and secured basement storage.
Property Size9,432 SF
Price / SF$98.07
Days on Market63
Property Features for 3965 Hillandale Road
General Information
Standard status
Active
Size
9,432 SF
Property subtype
Multifamily
Zoning
B-2 Multiple Dwelling District Village of Ottawa Hills
Investment Type
Owner/User
Units
Unit Mix
4 x 2BR/2BA with den
Multifamily Units
4
Amenities
secured storage
Building Details
Year Built
1967
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Construction
brick
Listing Agency:
Reichle | Klein Group
Listed By:
Tony Plath · License #OH 0000277590
Source:
Crexi
Added: Aug 19
Changed: Oct 4
Last Checked: Oct 19 at 4:49AM
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 Reichle | Klein Group
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Investment Insights
Based on property information with market context.
This 9,432-square-foot quadplex contains four two-bedroom, two-bath apartments, each with a den. The all-brick building was completed in 1967 for its original owner by Cavalear Building Co. Each residence is paired with a 2+ car garage, while the clean, dry basement provides additional secured storage.
Located at 3965 Hillandale Road in Toledo, Ohio, the property carries B-2 Multiple Dwelling District zoning in the Village of Ottawa Hills. The configuration supports both owner-occupancy and multifamily investment use, with four similarly configured apartments and dedicated garage accommodations.
Located at 3965 Hillandale Road in Toledo, Ohio, the property carries B-2 Multiple Dwelling District zoning in the Village of Ottawa Hills. The configuration supports both owner-occupancy and multifamily investment use, with four similarly configured apartments and dedicated garage accommodations.
Key Highlights
- 9,432‑square‑foot all‑brick quadplex completed in 1967
- Four 2‑bedroom, 2‑bath apartments, each with a den
- Each tenant has a 2+ car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,482
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,589,640
$1.6M
Cap Rate 7%
$1,135,457
$1.1M
Cap Rate 9%
$883,133
$883.1K
Market Conditions
NOI Build-Up for 9,432 SF
Gross rent
$150.5K $15.96/SF
− Vacancy
−$6.0K −$0.64/SF
EGI
$144.5K $15.32/SF
− OpEx
−$65.0K −$6.89/SF
NOI
$79.5K $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%
$1,589,640
Cap Rate 7%
$1,135,457
Cap Rate 9%
$883,133
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,126 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$1.14M
$993.5K – $1.32M
NOI $79,482 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,879 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 43606, OH
25,671
Population
11,700
Households
2.2
Avg Household Size
31
Median Age
42%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
3,949
Density / Sq Mi
$60,308
Median Household Income
$32,997
Median Earnings
$938
Median Rent
$165,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - The apartment layout combines two-bedroom homes, dens, and secured basement storage.
Where is this quadplex located?
The property is located at 3965 Hillandale Road Toledo, OH.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 9,432‑square‑foot all‑brick quadplex completed in 1967; Four 2‑bedroom, 2‑bath apartments, each with a den; Each tenant has a 2+ car garage
