Parking Information

Garage YN

No

Carport YN

No

Parking Total

32

Building

New Construction YN

No

Year Built

1963

Stories Total

Yes

Building Name

Garden Ridge Apartments

Home Warranty YN

No

Accessibility Features YN

No

Lot

Lot Size Dimensions

90 x 145

Pool Private YN

No

Waterfront YN

No

Water Body Access YN

No

Lot Size Acres

0

Lot Size Square Feet

0

Remarks

Public Remarks

The seller purchased this property in 2022. Prior ownership had neglected the asset and made no reinvestments. Since acquisition, the current owner has invested approximately $378,00 in higher-than-normal maintenance costs and has required substantial capital improvements, including unit renovations, new appliances, updated flooring and carpeting, HVAC replacements, Roof and siding upgrades, and other enhancements. To date 15-17 of the 32 units have been renovated since 2022. This creates an opportunity for a new buyer to complete the remaining improvements and realize the property's full potential.

Interior/Exterior - Video/Audio Equipment

No

Deposits and Fee Amounts

Security Deposit Amount

9500

Income and Expenses

Gross Income

834886

Maintenance Expense

149028

Net Operating Income

155858

Pet Information

Pets Allowed YN

Yes

Unit Details

Number Of Units Leased

28

Number Of Units Vacant

4

Unit One

Unit Type Description

18 one units and 14 two units

Unit Type Beds Total

Yes

Unit Type Number of Full Baths

Yes

SqFt per Unit

600

Appliances Included

Yes

Furnished

Unfurnished

Occupied YN

Yes

Unit Two

Unit Type Beds Total

2

Unit Type Number of Full Baths

Yes

SqFt per Unit

900

Appliances Included

Yes

Showing Information

Showing Instructions

Call Listing Agent. DO NOT TEXT.

Tax & Legal

School District

Toledo

Elementary/Primary School

Glendale - Feilbach

Junior High School

None

Middle School

None

High School

Bowsher

6 Months General Tax

21694

6 Months Special Assessment Tax

1198

6 Months Total Tax

22892

Tax Year

2025

Additional Parcels YN

Yes

Additional Parcels Description

2055552, 2055629, 2055632, 2055635, 2055639, 2055619, 2055645

Auction YN

No

Association/Community

Number Of Buildings

8

Number Of Units Total

32

Utilities

Other

Yes

Appliances

Electric Oven

Yes

Refrigerator

Yes

Water Heater

Yes

Construction Materials

Brick

Yes

Frame

Yes

Vinyl Siding

Yes

Cooling

Ductless

Yes

Electric

Yes

Wall Unit(s)

Yes

Disclosures

Lead Based Paint Disclosure

Yes

Flooring

Carpet

Yes

Linoleum

Yes

Luxury Vinyl

Yes

Foundation Details

Slab

Yes

Heating

Forced Air

Yes

Natural Gas

Yes

Interior Features

Other

Yes

Laundry Features

Common Area

Yes

Levels

One

Yes

Listing Terms

Conventional

Yes

Location of Property

Neighborhood

Yes

Lot Features

Other

Yes

Parking Features

Driveway

Yes

Off Street

Yes

Possession

Subject To Tenant Rights

Yes

Road Frontage Type

City Street

Yes

Road Surface Type

Paved

Yes

Roof

Shingle

Yes

Sewer

Public Sewer

Yes

Showing Considerations

Occupied

Yes

Special Listing Conditions

Standard

Yes

Structure Type

Multi Family

Yes

Water Heater

Electric

Yes

Water Source

Public

Yes

Window Features

Screens

Yes

Income Includes

Laundry

Yes

Rent Only

Yes

Lease Term Options

Month To Month

Yes

12 Months

Yes

Move In Costs

Security Deposit

Yes

Owner Pays

Common Area Maintenance

Yes

Electricity

Yes

Exterior Maintenance

Yes

Grounds Care

Yes

HVAC Maintenance

Yes

Insurance

Yes

Lawn Care

Yes

Management

Yes

Pest Control

Yes

Repairs

Yes

Roof Maintenance

Yes

Sewer

Yes

Snow Removal

Yes

Taxes

Yes

Trash Collection

Yes

Water

Yes

Tenant Pays

Cable TV

Yes

Electricity

Yes

Gas

Yes

Unit One Appliances and Equipment

Range

Yes

Refrigerator

Yes

Unit Two Appliances and Equipment

Range

Yes

Refrigerator

Yes

Showing Requirements

Call Listing Agent

Yes

Contingencies

Financing

Yes

Inspection

Yes

Property Features