| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 58th | Good |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6222 Lewis Ave, Toledo, OH, 43612, US |
| Region / Metro | Toledo |
| Year of Construction | 1986 |
| Units | 60 |
| Transaction Date | 2004-09-24 |
| Transaction Price | $2,580,000 |
| Buyer | STOTT ENTERPRISES INC |
| Seller | WINDING VALLEY LLC |
6222 Lewis Ave Toledo Multifamily Investment
Neighborhood occupancy remains steady and renter demand is supported by everyday amenities and proximity to major employers, according to WDSuite’s CRE market data. The asset’s scale positions it to capture stable cash flow with room for operational optimization.
This Toledo location sits within a neighborhood rated A and ranked 8th out of 59 in the Monroe metro — a top quartile position that signals competitive fundamentals among local peers. Daily needs are well served by groceries and pharmacies (both stronger within the metro context), while restaurants are present but cafes and parks are limited, suggesting convenience for residents with fewer discretionary amenity draws.
Neighborhood occupancy is 92.6% (neighborhood-level, not property-specific) and trends slightly above the national median, supporting leasing stability. Median contract rents in the immediate neighborhood sit near the middle of the metro distribution, with softer five-year movement — a setup that can favor value-oriented positioning and disciplined revenue management.
Within a 3‑mile radius, population has been essentially flat in recent years while household counts have edged higher, indicating smaller household sizes and a gradual expansion of the tenant base. Renter-occupied housing comprises a meaningful share of units in this radius, underpinning multifamily demand, and rising household incomes reinforce the ability to support rent levels without overextending affordability.
Ownership costs in this area are moderate relative to higher-cost metros, which can create some competition from entry-level homeownership; however, this also supports resident retention where multifamily offers more accessible monthly housing options. Based on commercial real estate analysis from WDSuite, this mix points to stable occupancy with measured rent growth potential rather than outsized spikes.
Safety indicators show a mixed picture best understood comparatively. Relative to other neighborhoods in the Monroe metro, crime ranks indicate more pressure than local peers (ranked near the higher-crime end among 59 neighborhoods). Nationally, however, violent offense metrics benchmark in the top decile for safety, while property offense readings are stronger than average but have shown a recent uptick. For investors, this suggests monitoring near-term property crime trends while recognizing that severe violent crime risk screens favorably in broader comparisons.
The area draws from a diverse employment base anchored by automotive components and building materials, which supports commuter convenience and a broad renter pool. Key nearby employers include Dana and Owens Corning, with additional corporate presence from Owens-Illinois.
- Dana Holding Corporation — automotive components offices (2.2 miles)
- Owens Corning — building materials (6.0 miles) — HQ
- Dana — automotive components (13.0 miles)
- Dana Holding — automotive components (13.0 miles) — HQ
- Owens-Illinois — glass packaging (14.6 miles) — HQ
Built in 1986 with 60 units averaging roughly 818 square feet, the property offers scale for professional management and potential value-add through targeted interior refreshes and systems modernization. Neighborhood fundamentals are competitive within the metro — occupancy is stable and amenities cover daily needs — while the broader 3‑mile area shows a gradual increase in households, which supports a larger tenant base and occupancy stability.
Home values in the area are moderate, which may temper pricing power at the top end but can support steady lease retention for well-positioned units. According to CRE market data from WDSuite, neighborhood rents and occupancy sit around mid‑pack to above-median benchmarks, pointing to resilient demand with a focus on operational execution rather than outsized market lifts.
- 1986 vintage with value-add and CapEx planning opportunities for interior and systems updates
- Competitive neighborhood standing (top quartile in the metro) supporting durable tenant demand
- Household growth within 3 miles expands the renter pool and supports occupancy stability
- Moderate ownership costs imply some competition from entry-level ownership — focus on unit quality and operations to drive retention