| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 41st | Fair |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 315 Bonnieview Dr, Bedford, OH, 44146, US |
| Region / Metro | Bedford |
| Year of Construction | 1988 |
| Units | 60 |
| Transaction Date | 2018-03-21 |
| Transaction Price | $2,446,035 |
| Buyer | SOUTH HAVEN WOODS LP |
| Seller | UNITED CHURCH RESIDENCES OF BEDFORD INC |
315 Bonnieview Dr, Bedford OH Multifamily Investment
Positioned in Bedford’s inner-suburban fabric, the property benefits from a renter base supported by steady household growth and accessible rents, according to WDSuite’s CRE market data. The investment angle centers on durable demand drivers rather than luxury positioning.
Bedford’s Inner Suburb setting offers day‑to‑day convenience with solid grocery and pharmacy coverage at the neighborhood level, while cafes and parks are thinner. For family considerations, average school ratings trend lower locally, which can influence tenant mix and leasing strategy for family-oriented units.
Neighborhood rent levels sit in an attainable band relative to the broader market, and the neighborhood’s occupancy has trended upward over the past five years. Importantly, the share of housing units that are renter‑occupied in the immediate neighborhood is closer to one‑third, while within a 3‑mile radius renters account for just over half of occupied housing—supporting a deeper tenant base for multifamily assets.
Construction in the area skews older on average, so a 1988 vintage positions this asset as comparatively newer versus much of the surrounding stock. That relative youth can aid leasing competitiveness, though investors should still plan for modernization of building systems and common areas to meet current renter expectations.
Home values nearby are relatively modest for owners, which can create some competition from ownership options. At the same time, rent-to-income levels indicate limited affordability pressure for many renters, supporting lease retention and occupancy stability in professionally managed properties.
Safety indicators present a mixed but constructive picture. The neighborhood compares favorably to many areas nationwide on safety, while ranking below the Cleveland–Elyria metro median—suggesting higher crime levels than several peer neighborhoods in the region. Recent year-over-year data shows meaningful declines in both property and violent offenses, a positive directional trend to monitor for underwriting assumptions.
Nearby employers span distribution, rail operations, industrial gases, diversified manufacturing, and insurance—providing a broad employment base that supports workforce renter demand and commute convenience for residents.
- Home Depot Distribution Center — distribution/logistics (3.5 miles)
- Norfolk Southern Motor Yard — rail operations (4.7 miles)
- Airgas Merchant Gases — industrial gases (6.2 miles)
- Parker-Hannifin — diversified manufacturing (7.8 miles) — HQ
- Progressive — insurance (9.9 miles) — HQ
This 1988 vintage, 60‑unit asset sits in an inner-suburban location where attainable neighborhood rents and a growing 3‑mile renter pool support occupancy stability. Within a 3‑mile radius, population and household counts have increased and are projected to continue rising, indicating a larger tenant base and sustained multifamily demand. Based on CRE market data from WDSuite, the neighborhood’s occupancy trend is improving, and rent-to-income levels suggest manageable affordability pressure—factors that can aid retention and leasing.
Relative to the older local housing stock, the property’s vintage provides a competitive edge, though investors should plan for targeted upgrades as systems age. Safety trends show recent improvement even as the area sits below the metro median; school ratings are weaker, which may influence family-oriented leasing. Modest nearby home values can introduce competition from ownership, but they also tend to keep renter expectations anchored to value, reinforcing demand for well-managed units.
- Inner-suburban location with accessible rents and an expanding 3-mile renter base supports stable demand
- 1988 vintage is newer than much of the area’s stock, aiding leasing competitiveness with selective upgrades
- Upward neighborhood occupancy trend and manageable rent-to-income levels bolster retention potential
- Diverse nearby employers underpin workforce housing demand and commute convenience
- Risks: below-metro safety standing, weaker school ratings, and ownership competition may temper pricing power