| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 74th | Best |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26400 Amhearst Cir, Beachwood, OH, 44122, US |
| Region / Metro | Beachwood |
| Year of Construction | 1994 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
26400 Amhearst Cir, Beachwood Multifamily Outlook
Neighborhood data points to a deep renter base alongside below-median occupancy, suggesting careful lease-up management and steady tenant demand, according to WDSuite’s commercial real estate analysis.
Beachwood’s inner-suburb location provides solid demand drivers for multifamily. The neighborhood rates A and is competitive among Cleveland–Elyria neighborhoods (rank 70 of 569), with dining density standing out — restaurants and cafes are comparatively abundant versus many suburbs. Daily-needs access is more car-oriented, with fewer parks, pharmacies, and groceries within the immediate area, which may influence resident convenience expectations and parking needs.
The property’s 1994 vintage is newer than the neighborhood’s average construction year (1980). For investors, that typically translates into a more competitive offering versus older stock, while still planning for system modernization and cosmetic upgrades to support leasing performance and rent positioning.
Tenure patterns signal depth in the renter pool: an estimated 59% of housing units in the neighborhood are renter-occupied, well above the metro median. This renter concentration supports leasing velocity and renewals, though the neighborhood occupancy level itself trends below the metro median, warranting attentive revenue management and marketing.
Demographics aggregated within a 3-mile radius show modest population growth recently and a larger increase in households, with forecasts indicating continued household expansion and smaller average household sizes. That trajectory generally supports a larger tenant base and sustained demand for smaller-format units. Elevated home values in the neighborhood relative to national norms reinforce reliance on multifamily options, while rent-to-income levels suggest manageable affordability pressure that can aid retention and pricing discipline.
Relative to the Cleveland–Elyria metro, the neighborhood’s crime rank (165 out of 569 neighborhoods) indicates above-metro-average safety, and it sits above the national median by percentile. Recent trend data shows notable year-over-year improvement in both property and violent offenses, which, if sustained, can support leasing confidence and resident retention. As always, safety conditions vary within small areas; investors should validate site-level patterns over time.
The surrounding employment base mixes headquarters and major operations that help anchor demand and shorten commutes for renters, including Parker-Hannifin and Progressive’s nearby campuses, plus distribution and logistics.
- Parker-Hannifin — diversified manufacturing (1.7 miles) — HQ
- Progressive — insurance (3.5 miles) — HQ
- Progressive Discovery Building — insurance operations (4.5 miles)
- Progressive Greens Building — insurance offices (5.5 miles)
- Home Depot Distribution Center — distribution & logistics (7.9 miles)
This 32-unit, 1994-vintage asset sits in an inner-suburb submarket with strong renter concentration and elevated ownership costs nearby, reinforcing reliance on multifamily housing. According to CRE market data from WDSuite, the neighborhood’s occupancy trends run below the metro median, so performance hinges on disciplined leasing and renewal management; however, household growth within a 3-mile radius and competitive nearby employment should help support demand and stabilize occupancy over time.
The property’s newer-than-neighborhood-average vintage offers relative competitiveness versus older stock, with a practical value-add path through common-area refreshes, unit interior updates, and system modernization as needed. Dining density is a local strength, while limited immediate access to parks, groceries, and pharmacies suggests residents will prioritize car access and on-site convenience features.
- Newer 1994 vintage versus neighborhood average, supporting competitive positioning with targeted modernization
- High renter-occupied share in the neighborhood underpins tenant base depth and leasing velocity
- Household growth within 3 miles and nearby corporate anchors support demand and retention
- Elevated ownership costs locally can sustain renter reliance and pricing discipline
- Risk: below-median neighborhood occupancy and limited daily-needs amenities nearby require proactive leasing and on-site convenience strategies