Two-Building Quadplex Income
For Sale
$339,900
4831 Wickford Dr E, Sylvania, OH 43560
Two buildings each contain two 2-bedroom, 1-bath units, fully occupied on month-to-month leases.
Property Size3,520 SF
Price / SF$96.56
Days on Market159
Property Features for 4831 Wickford Dr E
General Information
Standard status
Active
Size
3,520 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
3,520 SF
Year Built
1965
Tenancy
Multi
Listed By:
Doug Wright, CCIM · License #OH #BRKA.2001001738
(419) 276-1236
Source:
Svn
Added: May 18
Changed: Oct 7
Last Checked: Oct 23 at 4:43AM
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 3,520 SF multifamily property consists of two separate buildings, with each building containing two 836 SF units. The four total residences are 2-bedroom, 1-bath layouts. The property is fully occupied, and all tenants are currently on month-to-month leases.
The buildings are located in Sylvania, Ohio, about 1.5 miles from the US-23 South interchange and just southwest of Toledo Flower Hospital.
The offering is available either individually or as part of a larger multi-asset portfolio. No showings will be scheduled until an offer is accepted. Offers are due Friday, May 22, and the signed Lead Paint Disclosure and Residential Seller Property Disclosure forms must be included with the offer.
The buildings are located in Sylvania, Ohio, about 1.5 miles from the US-23 South interchange and just southwest of Toledo Flower Hospital.
The offering is available either individually or as part of a larger multi-asset portfolio. No showings will be scheduled until an offer is accepted. Offers are due Friday, May 22, and the signed Lead Paint Disclosure and Residential Seller Property Disclosure forms must be included with the offer.
Key Highlights
- 3,520 SF multifamily property in Sylvania, Ohio, built in 1965
- Two buildings with four total units: 2 x 836 SF buildings with two 2‑bed, 1‑bath units each
- Fully occupied; all tenants on month‑to‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,345
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$566,900
$566.9K
Cap Rate 7%
$404,929
$404.9K
Cap Rate 9%
$314,944
$314.9K
Market Conditions
NOI Build-Up for 3,520 SF
Gross rent
$43.5K $12.36/SF
− Vacancy
−$3.0K −$0.86/SF
EGI
$40.5K $11.50/SF
− OpEx
−$12.1K −$3.45/SF
NOI
$28.3K $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%
$566,900
Cap Rate 7%
$404,929
Cap Rate 9%
$314,944
Alternative Uses
Best Use
Multifamily LT 5
$404.9K
$354.3K – $472.4K
NOI $28,345 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$353.8K
$309.6K – $412.8K
NOI $24,766 @ 7.0% cap · market cap 7.29%
Theoretical Best
Specialty Retail
$644.2K
$563.7K – $751.6K
NOI $45,096 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Two buildings each contain two 2-bedroom, 1-bath units, fully occupied on month-to-month leases.
Where is this quadplex located?
The property is located at 4831 Wickford Dr E Sylvania, OH.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 3,520 SF multifamily property in Sylvania, Ohio, built in 1965; Two buildings with four total units: 2 x 836 SF buildings with two 2‑bed, 1‑bath units each; Fully occupied; all tenants on month‑to‑month leases
