| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 75th | Best |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Tollis Pkwy, Broadview Heights, OH, 44147, US |
| Region / Metro | Broadview Heights |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 2000-07-31 |
| Transaction Price | $3,971,600 |
| Buyer | D & J TIMBER PROPERTIES LLC |
| Seller | OHIO RESIDENTIAL INVESTMENT LLC |
1000 Tollis Pkwy Broadview Heights Multifamily Investment
Neighborhood occupancy is strong with steady renter demand and balanced pricing power, according to WDSuite’s CRE market data, supporting a defensible long-term hold profile.
Located in suburban Broadview Heights within the Cleveland–Elyria metro, the neighborhood posts an A- rating and is competitive among metro peers (ranked 142 out of 569 neighborhoods). Occupancy in the neighborhood is high and has trended up over five years, supporting income stability at the property level in line with broader metro performance.
The asset’s 1988 vintage is modestly newer than the neighborhood’s average construction year (1984), which can offer a competitive edge versus older stock while still warranting ongoing capital planning for systems and common-area modernization.
Local livability is serviceable for suburban renters: grocery and restaurant access sits around metro medians, while park access performs in the top quartile nationally. Café and pharmacy density is limited, which suggests a car-oriented lifestyle typical of low-intensity suburban nodes.
Renter concentration at the neighborhood level is roughly one-quarter of housing units, indicating a moderate but reliable tenant base. Within a 3-mile radius, population edged higher over the past five years and households expanded, with forecasts indicating further household growth alongside smaller average household sizes — dynamics that typically broaden the renter pool and support occupancy stability.
Income levels are above many national peers and rent-to-income metrics are favorable, indicating manageable affordability pressure that can aid retention. Home values in this area are comparatively accessible for owners, which may introduce competition with entry-level ownership; however, this also points to a stable, higher-income resident base that supports consistent rent collection.
Safety indicators compare well both locally and nationally. The neighborhood ranks 54 out of 569 in the Cleveland–Elyria metro for overall crime, placing it in the top quartile among metro neighborhoods. Nationally, crime measures land around the mid-to-high percentiles (roughly the 70s for property crime and upper 50s for violent crime), indicating comparatively favorable conditions versus many U.S. neighborhoods.
Recent trend data from WDSuite shows meaningful year-over-year declines in both property and violent offense rates, reinforcing a positive trajectory. As always, investors should evaluate property-level security and lighting as part of standard due diligence.
Proximity to established employers supports renter demand through commute convenience and a diversified white-collar and industrial employment base, including Airgas Merchant Gases, Norfolk Southern, Sherwin-Williams, PNC, and KeyCorp.
- Airgas Merchant Gases — industrial gases (5.5 miles)
- Norfolk Southern Motor Yard — rail operations (9.3 miles)
- Sherwin-Williams — coatings corporate offices (11.6 miles) — HQ
- PNC Center — financial services offices (11.8 miles)
- Keycorp — banking (11.9 miles) — HQ
This 24-unit, 1988-vintage asset benefits from a suburban neighborhood that performs above the metro median on multiple fundamentals. High neighborhood occupancy, a moderate renter concentration, and growing household counts within a 3-mile radius support a stable tenant base and predictable cash flows. According to CRE market data from WDSuite, rent-to-income levels are favorable, suggesting manageable affordability pressure and aiding retention.
While ownership is relatively accessible in this submarket — a competitive factor for entry-level renters — income strength and commute access to diversified employers underpin steady demand. The vintage provides a slight competitive edge versus older stock, while still leaving room for targeted value-add through unit and systems upgrades to drive rent premiums and reduce long-term capex risk.
- Strong neighborhood occupancy and stable renter demand support income consistency.
- Favorable rent-to-income dynamics bolster retention and measured pricing power.
- 1988 vintage offers competitive positioning with potential value-add through modernization.
- Employer access (white-collar and industrial) supports leasing depth across cycles.
- Risk: Accessible homeownership and limited nearby amenities may temper rent growth; disciplined capex and amenity upgrades can mitigate.