2294 Albion Street

Multi-Family for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30680008
Property Subtypes: Mixed Use
Number of Units: See Agent
Building Size (RSF): 39,335 SF
Gross Building Area: See Agent
Gross Land Area: 0.78 Acres
Sale Price: $125,000
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/7/2021

Overview / Comments

• Great opportunity for multi-family redevelopment with first floor office or commercial space.
• Building needs major renovations but has good bones and most utilities remain in place.
• First floor and rear building, most recently used as a resale shop/antique shop.
• Half of the apartment units just need minor updates, but some units require major rehab.
• Possible uses – would make a nice group home for transitional housing or a recovery center.
• Various floorplans and configurations are a possibility.
• Rear building has an inoperable freight elevator.
• Open concrete porch in rear needs to be replaced.
• Roof needs some repairs but has held up relatively well.
• All offers will be subject to Lucas County Land Bank approval and proof of funds will be necessary.
• Waiver of liability will be required to show.

Additional Details

Nearest MSA: Toledo
County: Lucas
Tax ID/APN: 0108444
Zoning: 10 - MX MIXED ZONE
Property Located Between: on the corner of Albion & Milburn
Property Condition: Fair
Number of Stories: 3
Year Built: 1900
Roof Type: Flat
Parking Type: Surface
Total Parking Spaces: 20
Freight Elevators: 1
Sprinklers: None
Heat Type: Other
Heat Source: Other
Fuel: Other
Air Conditioning: Other
Water Service: Municipal
Sewer Type: Municipal, Storm

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,871 152,053 289,330
Median Age: 35.55 33.07 35.5
Households: 7,393 60,697 118,912
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