The jury of eight women and four men found him not guilty of 44 charges: 37 counts of criminal mischief, four counts of filing false reports and six counts of possession of an instrument of crime.
Of the 15 guilty charges, 12 were for criminal mischief related to slashed tires, two were for possession of an instrument of crime and one was for filing a false report.
"We got a fair jury and we are satisfied with the outcome," Assistant District Attorney Lauren McHale said.
"It's sad, because this is a situation in which these people were waking up every morning not knowing if they were going to be able to go to work or school or to doctors' appointments," Assistant District Attorney Tracie Gaydos said of Toledo's neighbors.
Gaydos said Toledo's motivation seemed to be to "get his name out there, so he could get media attention. At the same time, he was torturing these people on a daily basis," Gaydos added.
Defense attorney William J. Brennan said he believes the number of not guilty verdicts means the jury found that Toledo was not the "Mayfair Tire Slasher."
"The jury, by its verdict, seems to have found that he damaged some tires during a rash of slashings that created a frenzy in that area," he said. "But to call David Toledo the 'Mayfair Tire Slasher,' now would be unfair."
He told the jury that another man who had taken to patrolling the streets of Mayfair was more likely the culprit.
Brennan said state sentencing guidelines call for Toledo to get a probation sentence, which he will ask Judge Wright to render.
Toledo, a high-school dropout who worked as a butcher, had held himself out as a community activist trying to help police catch the slasher in the weeks prior to his arrest in April 2012.