| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Good |
| Demographics | 28th | Poor |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1916 Allentown Rd, Lima, OH, 45805, US |
| Region / Metro | Lima |
| Year of Construction | 1973 |
| Units | 32 |
| Transaction Date | 1999-04-01 |
| Transaction Price | $390,000 |
| Buyer | MARKIEWICZ LOUIS |
| Seller | BURNS CHARLES |
1916 Allentown Rd, Lima OH Multifamily Investment
Neighborhood occupancy has held in a stable, upper-tier range for this part of Lima, supporting steady leasing, according to WDSuite s CRE market data. For investors, the combination of workforce rents and a renter base that is durable relative to local ownership costs points to consistent demand management.
This inner-suburb location posts competitive occupancy versus Lima peers (ranked 15 of 45 neighborhoods), indicating resilient lease-up and retention even through recent cycles. At the same time, workforce-level asking rents and a median rent-to-income profile suggest room to sustain demand without overextending tenants, which can aid collections and reduce turnover risk.
Renter-occupied housing makes up a meaningful share locally within the neighborhood and across the broader 3-mile radius (about the mid-40% range), signaling a sizeable tenant base for a 32-unit property. In a high-cost ownership market this would translate to pricing power; here, more accessible ownership alternatives mean leasing strategy should emphasize value, convenience, and unit quality to maintain occupancy stability.
Amenities are mixed: restaurant density ranks near the top of Lima (3 of 45) and grocery access is comparatively strong (7 of 45), while parks, pharmacies, cafes, and childcare options are limited within the immediate neighborhood. Average school ratings trend low for the metro, which may shift demand toward smaller household profiles and working-age renters rather than family-heavy cohorts.
Vintage matters for competitiveness. The building s 1973 construction is newer than the neighborhood s older housing stock (average vintage 1943), offering a relative edge on layout and systems versus pre-war assets, though investors should still underwrite selective renovations or modernization over the hold. These dynamics, paired with occupancy traction and restaurant/grocery proximity, frame a practical, income-oriented case for this address grounded in commercial real estate analysis.
Safety metrics trend below national averages for comparable neighborhoods, with crime benchmarks placing this area in a weaker national percentile band. Within the Lima metro, the crime rank sits toward the lower end (42 out of 45 neighborhoods), indicating elevated incident rates relative to many local peers. Investors should plan for appropriate security, lighting, and property management presence as part of operating assumptions.
One constructive signal: recent data show a year-over-year decline in violent offenses, suggesting some improvement in trend even if the absolute level remains elevated. Framing risk mitigation early in the business plan can help support resident retention and protect NOI.
Regional employment anchors within commuting distance help underpin renter demand, with energy sector headquarters providing stable, year-round jobs relevant to workforce housing.
- Marathon Petroleum energy HQ (32.6 miles) HQ
This 32-unit asset aligns with steady neighborhood occupancy and a durable renter pool, supported by workforce-level rents and solid restaurant/grocery access. The 1973 vintage is newer than much of the surrounding stock, offering a relative competitive position while leaving room for targeted value-add to refresh interiors, improve curb appeal, and modernize systems over time. According to CRE market data from WDSuite, the neighborhood s occupancy performance is competitive among Lima areas and has trended positively, supporting a thesis centered on cash flow stability rather than outsized rent growth.
Demographics aggregated within a 3-mile radius point to a sizable working-age population and incremental household growth ahead, which can expand the renter base and support leasing. Counterbalancing factors include a more affordable ownership landscape and below-average school ratings, both of which argue for emphasizing convenience, security, and value in the operating plan to sustain occupancy and retention.
- Competitive neighborhood occupancy supports steady collections and lease retention.
- 1973 vintage is newer than nearby stock, with clear value-add and modernization pathways.
- Workforce rent positioning taps a broad renter base and helps manage affordability pressure.
- Nearby restaurant and grocery access improve livability and leasing appeal.
- Risks: below-average safety metrics, lower school ratings, and competition from ownership require active management and security-focused capex.