4841 Monroe St, Toledo, OH - River Birch Village
Property Overview
AJ Commercial Group is proud to announce the successful sale of River Birch Apartments, a 224-unit multifamily property located in Toledo, Ohio. This value-add asset offered significant upside with a strong renovation trajectory already in motion at the time of closing.
Of the 224 units, 140 were fully remodeled with modern kitchens, bathrooms, flooring, and finishes—representing a substantial capital improvement by long-term ownership. Rents for renovated units reached up to $975/month, compared to $670/month average in-place rents across the community, offering strong income growth potential for new ownership.
River Birch had been family owned and operated for over 30 years, demonstrating exceptional long-term care and community reputation. The property also benefits from a prime walkable location—steps from major shopping centers, restaurants, and neighborhood amenities.
Property Highlights
- 224-unit multifamily property in Toledo, OH
- 140 units fully renovated at time of sale
- Renovations included new kitchens, bathrooms, and interior finishes
- Avg in-place rents: $670/month | Renovated: Up to $975/month
- Family owned and operated for over 30 years
- Located within walking distance to retail, restaurants, and daily conveniences
- Strong value-add upside through continued unit upgrades and lease-up
Key Details
- Property Name: River Birch Apartments
- Location: Toledo, Ohio
- Total Units: 224
- Renovated Units: 140
- Avg In-Place Rent: $670/month
- Renovated Rent: Up to $975/month
- Ownership History: Family owned for 30+ years
- Submarket: West Toledo / Northwest Ohio
