| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 75th | Best |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1451 Tollis Pkwy, Broadview Heights, OH, 44147, US |
| Region / Metro | Broadview Heights |
| Year of Construction | 1990 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1451 Tollis Pkwy Broadview Heights Multifamily Investment
Neighborhood occupancy is about 96.5%, supporting income stability relative to metro averages, according to CRE market data from WDSuite. Renter demand in this suburban pocket is steady, with an owner-leaning tenant mix that can favor retention for well-managed assets.
Broadview Heights is a suburban location with an A- neighborhood rating and stands in the top quartile among 569 Cleveland–Elyria neighborhoods, based on WDSuite’s CRE market data. The area’s occupancy is competitive within the metro and has trended higher in recent years, which generally supports predictable cash flow for stabilized multifamily.
The property’s 1990 vintage is slightly newer than the neighborhood’s average construction year (1984). That relative youth can help with competitive positioning versus older stock, while investors should still plan for system updates typical of late-1980s/1990s assets to protect NOI and support future leasing.
Within a 3-mile radius, households increased over the past five years while average household size edged lower, and projections point to further household growth with smaller sizes by 2028. This pattern often broadens the renter pool and supports occupancy stability, even if overall population growth remains modest.
The neighborhood is predominantly owner-occupied, with renter-occupied units near one-quarter of housing stock. For multifamily investors, that indicates moderate renter concentration and a tenant base that values convenience and quality management. Home values sit near regional norms, and with a rent-to-income ratio around 0.11 at the neighborhood level, affordability pressure appears manageable—favorable for retention and measured rent growth. Amenity density is mixed: restaurants and groceries track above the national median, while cafes, pharmacies, and childcare are limited, suggesting convenience is stronger for essentials than for niche services.
Safety metrics compare favorably in a regional context and land in the top quartile nationally, according to WDSuite’s CRE market data. Recent year-over-year estimates indicate notable declines in both property and violent offense rates at the neighborhood level, a constructive trend for resident retention and leasing.
As with any submarket, conditions can vary by block and over time, so prudent underwriting should consider property-level security measures and ongoing monitoring alongside the broader neighborhood trend.
Nearby employers provide a diversified white- and blue-collar base that supports renter demand and commute convenience, including industrial gases, rail operations, financial services, and corporate headquarters within a ~12-mile radius.
- Airgas Merchant Gases — industrial gases (5.6 miles)
- Norfolk Southern Motor Yard — rail operations (9.5 miles)
- Sherwin-Williams — coatings & corporate offices (11.7 miles) — HQ
- Keycorp — banking (11.9 miles) — HQ
- PNC Center — financial services offices (11.9 miles)
This 40-unit asset benefits from a suburban A- neighborhood that ranks in the top quartile among 569 Cleveland–Elyria neighborhoods and shows competitive occupancy. According to CRE market data from WDSuite, neighborhood occupancy is about 96.5% with a rent-to-income ratio near 0.11, indicating manageable affordability pressure and potential for stable retention under disciplined lease management.
Built in 1990, the property is slightly newer than the neighborhood average, offering relative competitiveness versus older buildings while still warranting targeted capital planning for systems and common-area refresh. Within a 3-mile radius, households have grown and are projected to expand further even as average household size declines—dynamics that typically broaden the renter pool and support occupancy stability. The owner-leaning tenure suggests demand is more selective, rewarding quality operations and thoughtful value-add execution rather than pure lease-up plays.
- Top-quartile suburban neighborhood in Cleveland–Elyria with competitive occupancy trends supporting stable cash flow
- 1990 vintage newer than local average, with targeted capex and modernization opportunities to enhance positioning
- 3-mile household growth and shrinking household size point to a broader renter pool and leasing durability
- Low neighborhood rent-to-income ratio near 0.11 favors retention and disciplined rent management
- Risks: limited café/childcare/pharmacy density and owner-weighted tenure may temper rent growth and leasing velocity