| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 74th | Best |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26300 Village Ln, Beachwood, OH, 44122, US |
| Region / Metro | Beachwood |
| Year of Construction | 1990 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
26300 Village Ln Beachwood Multifamily Investment Opportunity
Renter demand is supported by a high-cost ownership landscape and a strong local employment base, according to WDSuite’s CRE market data, positioning this asset for durable occupancy with operational execution.
Located in Beachwood’s inner-suburban setting within the Cleveland–Elyria metro, the immediate neighborhood scores well for daily convenience. Cafe and restaurant density is competitive among 569 metro neighborhoods and in the top quartile nationally, while within-boundary grocery, park, and pharmacy counts are limited—suggesting residents rely on nearby corridors for these services. School ratings are not available in this dataset; investors should underwrite using local district due diligence.
Multifamily dynamics are favorable for demand depth: the neighborhood’s share of renter-occupied housing units is elevated versus most of the metro (top decile nationally), indicating a broad tenant base for an 88-unit property. Reported neighborhood occupancy is below the metro median, which points to leasing and asset-management opportunity rather than structural weakness given the area’s employment access and household incomes. Market rents benchmark above many Cleveland–Elyria submarkets, supporting achievable pricing for well-operated assets.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue expanding, implying a larger tenant base and support for lease-up and retention. Median home values in the neighborhood are elevated (around $430,000), a high-cost ownership context that tends to sustain reliance on multifamily rentals and can support pricing power for quality units. The property’s 1990 vintage is newer than the neighborhood average (1980), offering relative competitiveness versus older stock, though investors should still plan for modernization of systems and common areas as part of a value-add or capital planning strategy.
Relative to the Cleveland–Elyria metro, the neighborhood’s overall crime position is competitive among 569 neighborhoods and compares above the national median. This framing suggests conditions that are generally supportive of renter retention when paired with professional management and lighting/security best practices.
Trend data indicates notable improvement: both property and violent offense rates show year-over-year declines that rank in the top decile nationally for improvement. While conditions can vary block to block and over time, the directional trend is constructive for long-term operations.
Proximity to major corporate campuses supports a strong commuter renter base, with short drives to headquarters and large offices for Parker-Hannifin and Progressive, plus additional operations across distribution and chemicals. These employers underpin weekday traffic and sustained leasing demand.
- Parker-Hannifin — industrial/engineering HQ (1.8 miles) — HQ
- Progressive — insurance HQ (3.6 miles) — HQ
- Progressive Discovery Building — insurance operations (4.6 miles)
- Progressive Greens Building — insurance operations (5.6 miles)
- Home Depot Distribution Center — distribution (7.8 miles)
This 88-unit property benefits from a deep renter pool and strong local incomes, while elevated neighborhood home values reinforce sustained reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood rent levels sit above many metro peers and NOI per unit performance is competitive among 569 neighborhoods, supporting a pricing thesis for well-managed assets. The 1990 construction is newer than the neighborhood average, providing a relative edge versus older inventory, with scope to create value through targeted renovations and system updates.
Household and population growth within a 3-mile radius points to ongoing renter pool expansion, which can support occupancy stability and retention. While neighborhood occupancy currently trails the metro median, proximity to anchor employers and high-income households offers a path to improved leasing performance with focused operations. Limited within-boundary groceries, parks, and pharmacies should be addressed via marketing around nearby corridors and resident services.
- Deep renter base and above-metro rent positioning support revenue durability
- 1990 vintage offers competitive positioning with value-add modernization upside
- Strong nearby employment anchors (Parker-Hannifin, Progressive) bolster leasing
- High-cost ownership market sustains multifamily demand and pricing power
- Risks: softer neighborhood occupancy and limited within-boundary amenities require active management