| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 74th | Best |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26150 Village Ln, Beachwood, OH, 44122, US |
| Region / Metro | Beachwood |
| Year of Construction | 1987 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
26150 Village Ln, Beachwood OH Multifamily Investment
Neighborhood data points to solid renter demand supported by high home values and a deep tenant base, according to WDSuite’s CRE market data. The property’s 1987 vintage offers relative competitiveness versus older local stock while prudent investors should plan for selective modernization.
Beachwood (Inner Suburb) scores an A neighborhood rating and ranks 70 out of 569 within the Cleveland–Elyria metro, placing it in the top quartile among metro neighborhoods. Restaurant and café density is a standout strength (restaurants rank 44/569; cafés rank 10/569 and are in the 97th percentile nationally), while grocery, parks, and pharmacies are limited within neighborhood boundaries—residents likely rely on nearby corridors for these needs. These amenity patterns can support leasing appeal for convenience-oriented renters, even if some errands require short drives.
On rents and occupancy, neighborhood median contract rents sit high relative to the metro (rank 14/569; upper deciles nationally), and NOI per unit trends are competitive (rank 9/569). However, neighborhood occupancy is below the national midpoint and has softened modestly in recent years, signaling the need for disciplined leasing and amenity positioning to win in a competitive set. Investors should view pricing power as attainable but contingent on property-level differentiation.
Tenure dynamics indicate depth in the renter pool: an estimated 59% of housing units in the neighborhood are renter-occupied (high nationally), which supports demand stability for multifamily assets. At the same time, the rent-to-income ratio is comparatively low for the neighborhood, which can reduce affordability pressure and aid retention strategies for well-managed communities.
Within a 3-mile radius, population and households have grown and are projected to continue expanding through 2028, alongside higher median incomes. A rising household count and smaller average household sizes suggest more renters entering the market and a larger tenant base over time—favorable for occupancy stability and steady absorption. Elevated neighborhood home values relative to incomes further indicate a high-cost ownership market, which tends to reinforce reliance on multifamily housing and support lease retention.
According to WDSuite’s CRE market data, the neighborhood benchmarks above the national median for safety overall, indicating comparatively favorable conditions versus many U.S. neighborhoods. Recent trend data shows notable year-over-year declines in both violent and property offense rates, which supports a constructive outlook on resident perception and leasing stability.
Safety can vary block to block, so investors should focus on submarket context and recent trends rather than isolated incidents. Continued monitoring of local policing and community initiatives is prudent, but the direction of change has been positive and aligns with investor goals around tenant retention and operating consistency.
Employment drivers nearby include corporate headquarters and major offices that sustain a sizable professional workforce and support renter demand through commute convenience. Notable employers in proximity include Parker-Hannifin and Progressive’s corporate campuses, as well as a regional distribution node.
- Parker-Hannifin — corporate offices (1.9 miles) — HQ
- Progressive — corporate offices (3.7 miles) — HQ
- Progressive Discovery Building — corporate offices (4.6 miles)
- Progressive Greens Building — corporate offices (5.6 miles)
- Home Depot Distribution Center — distribution (7.8 miles)
26150 Village Ln offers 46 units with an average unit size above 1,100 square feet and a 1987 construction year, which is newer than the neighborhood’s average vintage. That positioning can reduce near-term capital intensity versus older stock while still leaving room for value-add through targeted interior and systems modernization. The surrounding neighborhood shows high renter concentration and elevated home values, supporting a durable tenant base and pricing potential when paired with effective leasing execution.
Neighborhood occupancy trends sit below the national midpoint, so underwriting should assume active competition and emphasize differentiation on finishes, service, and amenity programming. Even so, rent-to-income indicators are comparatively manageable, and within a 3-mile radius both households and incomes are rising, expanding the renter pool. According to CRE market data from WDSuite, NOI per unit and rent levels are strong relative to the metro, suggesting that well-positioned assets in this pocket can capture demand as regional employers continue to anchor high-wage employment nearby.
- 1987 vintage provides competitive footing versus older local stock with selective value-add potential
- High renter-occupied share in the neighborhood supports depth of tenant demand
- Elevated home values bolster multifamily reliance and can aid lease retention
- Strong nearby employer base (HQs and corporate offices) underpins steady leasing
- Risk: neighborhood occupancy below national midpoint requires disciplined leasing and competitive amenities