| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Best |
| Demographics | 63rd | Best |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 220 Southwestern Dr, Lakewood, NY, 14750, US |
| Region / Metro | Lakewood |
| Year of Construction | 1999 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
220 Southwestern Dr Lakewood Multifamily Investment Opportunity
Positioned in a suburban A-rated neighborhood of the Jamestown–Dunkirk–Fredonia metro, this 81-unit asset benefits from strong daily-needs access and a renter base supported by steady household incomes, according to WDSuite’s CRE market data. Neighborhood metrics referenced below reflect the broader area, not the property, and suggest demand drivers that can support occupancy with disciplined leasing and operations.
Location fundamentals: The property sits in a suburban setting that ranks 3rd of 64 metro neighborhoods, placing it in the top quartile among Jamestown–Dunkirk–Fredonia sub-areas for overall neighborhood quality. Amenity access is a relative strength, with cafes, parks, groceries, restaurants, and pharmacies collectively tracking in above-average national percentiles, helping sustain daily convenience and lease retention.
Amenities and daily needs: Local access to groceries and pharmacies ranks competitively among metro peers (each within the top 10 of 64), while cafes and parks test in the upper national quartile. For multifamily operators, this supports lifestyle convenience that can reduce turnover and aid renewals, even in slower leasing periods.
Rents, occupancy, and tenure: Neighborhood-level occupancy trends are below national averages, indicating that sustained leasing focus may be necessary to stabilize at target levels. Renter-occupied housing accounts for roughly three in ten units at the neighborhood level, signaling a moderate renter concentration and a tenant base deep enough to support absorption when pricing and unit quality are well calibrated.
Vintage and competitive positioning: With a 1999 construction year in an area where the average housing stock dates to roughly 1960, the asset is newer than much of its competitive set. That age advantage can enhance positioning versus older product, while still warranting capital planning for systems modernization and selective interior upgrades to sharpen leasing velocity and retention.
Demographics within a 3-mile radius: Population and households have grown in recent years, with projections pointing to further increases over the next five years, translating to a larger tenant base and more renters entering the market. Median household incomes have trended upward alongside rent levels, a combination that supports achievable pricing while keeping affordability within manageable ranges for lease management.
Home values and affordability: Neighborhood home values are relatively accessible versus many U.S. markets, and value-to-income and rent-to-income ratios indicate manageable affordability pressure. For investors, this mix generally supports lease retention, with the caveat that competitively priced ownership options can occasionally pull on the upper end of the renter pool, requiring thoughtful unit finishes and amenity positioning.
Comparable safety statistics for this neighborhood are not reported in the current WDSuite dataset. Investors typically evaluate safety using multiple sources and trends over time; in the absence of published ranks or national percentiles here, underwriting should incorporate local law enforcement reports and insurance guidance for a balanced view of operating risk.
Regional employers provide a diversified base of professional and industrial jobs that can feed renter demand, particularly among households prioritizing commute-quality and stable incomes. Notable nearby companies include Parker-Hannifin and Erie Insurance Group.
- Parker-Hannifin — industrial manufacturing (40.5 miles)
- Erie Insurance Group — insurance (40.6 miles) — HQ
220 Southwestern Dr offers a newer-vintage (1999) multifamily profile in a suburban neighborhood that ranks near the top of the metro, with strong daily-needs access that supports retention and steady leasing. While neighborhood occupancy trends trail national benchmarks, the property’s relative age advantage versus older local stock can be leveraged with targeted renovations and disciplined pricing to capture demand and improve stabilization.
Within a 3-mile radius, recent growth in population and households, together with rising median incomes and projected renter pool expansion, points to a larger tenant base over the next cycle. According to CRE market data from WDSuite, amenity access is a local strength, and affordability metrics suggest manageable rent-to-income levels—factors that can support occupancy stability when paired with focused operations.
- Newer 1999 vintage versus an older neighborhood baseline, creating value-add and competitive positioning opportunities
- Amenity-rich location with strong access to groceries, parks, and services that supports renewals
- 3-mile demographics indicate population and household growth, expanding the renter pool over the next five years
- Affordability metrics and rising incomes support achievable pricing and lease management
- Risk: Neighborhood occupancy trends below national averages require active leasing, competitive finishes, and prudent underwriting