Updated Condo with Garage
For Sale
$188,500
4057 Hillandale Road Ottawa, Toledo, OH 43606
Move-in ready 3-bed, 2-bath condo with updated kitchen.
Property Size1,883 SF
Days on Market387
Property Features for 4057 Hillandale Road Ottawa
General Information
Standard status
Active
Size
1,883 SF
Property subtype
Condominium
Amenities
Fireplace
Central Air
Forced Air
Natural Gas
Dishwasher
Water Heater
Dryer
Electric Range
Refrigerator
Washer
Shingles
Building Details
Building Size
1,883 SF
Year Built
1961
Stories
1
Listing Agency:
Citywide
Listed By:
Colleen Shanahan · License #2015005657
(419) 865-8233
Source:
Kw
Added: Sep 15, 2025
Changed: Oct 5
Last Checked: Oct 5 at 3:40PM
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 Citywide
Investment Insights
Based on property information with market context.
This upper-level condo features tree-top views and offers character and space. The 3-bed, 2-bath unit is move-in ready, showcasing kitchen updates and new appliances. The living room includes a decorative fireplace, and there is a fully enclosed porch. The property includes two dedicated, private garage bays. A new furnace was installed in 2025, and the roof and attic insulation were updated in 2018. Additional storage is available in the basement. Water and cable are included in the fees. The location provides convenient access to shopping, dining, and metro parks.
Key Highlights
- 3‑bed, 2‑bath condo with tree‑top views
- Move‑in ready with updated kitchen and new appliances
- Two dedicated, private garage bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,868
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,360
$317.4K
Cap Rate 7%
$226,686
$226.7K
Cap Rate 9%
$176,311
$176.3K
Market Conditions
NOI Build-Up for 1,883 SF
Gross rent
$30.1K $15.96/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$28.9K $15.32/SF
− OpEx
−$13.0K −$6.89/SF
NOI
$15.9K $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%
$317,360
Cap Rate 7%
$226,686
Cap Rate 9%
$176,311
Alternative Uses
Best Use
Apartment 5plus
$226.7K
$198.4K – $264.5K
NOI $15,868 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.4K
$274.2K – $365.6K
NOI $21,936 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
98
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Move-in ready 3-bed, 2-bath condo with updated kitchen.
Where is this apartment building located?
The property is located at 4057 Hillandale Road Ottawa Toledo, OH.
What is the asking price?
The asking price for this property is $188,500.
What are key features of this property?
This property features: 3‑bed, 2‑bath condo with tree‑top views; Move‑in ready with updated kitchen and new appliances; Two dedicated, private garage bays
