| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 74th | Best |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26200 George Zeiger Dr, Beachwood, OH, 44122, US |
| Region / Metro | Beachwood |
| Year of Construction | 1984 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
26200 George Zeiger Dr Beachwood Multifamily Investment
Neighborhood data points to durable renter demand supported by high home values and a sizable renter-occupied base, according to WDSuite’s CRE market data. All neighborhood metrics cited refer to the surrounding area, not this specific property.
Located in Beachwood’s inner-suburb context within the Cleveland–Elyria metro, the neighborhood carries an A rating and ranks 70 out of 569 metro neighborhoods, indicating competitive positioning among local peers. Cafes and restaurants are a relative strength (cafe density in the top quartile nationally and restaurant density well above national averages), while everyday walk-to options like grocery, parks, and pharmacies are limited in the immediate area. For investors, this mix suggests lifestyle convenience for dining but a more vehicle-oriented routine for essentials.
The neighborhood’s median home value sits in the upper tier within the metro (ranked 26 of 569) and above most U.S. neighborhoods, which tends to reinforce reliance on multifamily housing and supports pricing power for well-positioned assets. Neighborhood rents also index high within the metro (ranked 14 of 569). At the same time, the rent-to-income ratio is elevated by national comparison, which warrants careful lease management and renewal strategies focused on retention.
Renter-occupied housing accounts for roughly 59% of neighborhood units, indicating a deep tenant base for multifamily. Reported neighborhood occupancy is 80.4% with a modest five‑year softening, so property-level performance will depend on competitive execution, unit finishes, and operations. Vintage matters: the asset’s 1984 construction is slightly newer than the neighborhood’s average vintage of 1980, which can offer relative competitiveness versus older stock, though systems may still be at an age where targeted modernization or value‑add improvements are prudent.
Within a 3‑mile radius, population and households have grown and are projected to continue expanding, with households rising faster than population—pointing to smaller household sizes and a broader renter pool over time. Median and mean household incomes in the 3‑mile area are high and growing, which supports rent collections and reduces turnover risk for quality units. These demographic tailwinds—aggregated within a 3‑mile radius—align with stable multifamily demand, though investors should underwrite to local competition and amenity trade‑offs.
Safety indicators are mixed but trending favorably. The neighborhood’s crime rank is 165 out of 569 in the Cleveland–Elyria metro, placing it above the metro median. Nationally, estimated violent and property offense rates sit below the top half of neighborhoods, but both have improved sharply year over year, with among the stronger improvement trajectories compared with U.S. peers. For investors, this pattern suggests conditions that are comparatively better than many metro subareas and improving versus last year, though monitoring remains prudent.
Proximity to major employers supports workforce housing demand and leasing stability, led by diversified manufacturing, insurance operations, and regional distribution within a short commute.
- Parker-Hannifin — diversified manufacturing (1.9 miles) — HQ
- Progressive — insurance (3.6 miles) — HQ
- Progressive Discovery Building — insurance R&D (4.5 miles)
- Progressive Greens Building — insurance operations (5.5 miles)
- Home Depot Distribution Center — distribution/logistics (8.0 miles)
This 61‑unit, 1984‑vintage asset sits in a neighborhood that ranks competitively within the Cleveland–Elyria metro and benefits from a deep renter base and high regional home values that reinforce reliance on multifamily. Neighborhood rents index near the top of metro peers and, according to CRE market data from WDSuite, the surrounding area maintains strong dining amenities alongside vehicle-oriented access to daily necessities. While neighborhood occupancy is reported at 80.4%, growing, higher‑income households within a 3‑mile radius point to a larger tenant base and potential for stable leasing with the right unit positioning.
Relative to older local stock, the 1984 vintage can be competitive, and selective updates can capture value‑add upside while addressing aging systems. Investors should underwrite to affordability pressure signals and amenity trade‑offs, pairing conservative lease assumptions with operational focus to drive retention and pricing power.
- High home values and strong incomes nearby support renter reliance on multifamily and provide pricing power for well‑positioned units
- Competitive neighborhood standing in the metro with robust cafe/restaurant density and short commutes to major employers
- Household and population growth within 3 miles expands the tenant base and supports leasing stability
- 1984 vintage offers value‑add pathways through targeted modernization to enhance competitiveness
- Risks: softer neighborhood occupancy, elevated rent‑to‑income signals, and limited walkable groceries/parks warrant conservative underwriting and focused retention strategies