| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 56th | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11426 Clifton Blvd, Cleveland, OH, 44102, US |
| Region / Metro | Cleveland |
| Year of Construction | 1974 |
| Units | 108 |
| Transaction Date | 2005-03-03 |
| Transaction Price | $2,450,000 |
| Buyer | CLIFTON PLAZA PRESERVATION ASSOCIATES LLC |
| Seller | NEW CLIFTON PLAZA ASSOCIATES LLC |
11426 Clifton Blvd, Cleveland OH Multifamily Investment
Renter concentration is strong in the surrounding neighborhood, supporting a durable tenant base and steady leasing, according to WDSuite’s CRE market data.
The property sits in Cleveland’s Urban Core where neighborhood fundamentals score in the top quartile among 569 metro neighborhoods (Neighborhood Rating: A; neighborhood rank 46), per WDSuite. Daily needs are well served: grocery and restaurant density rate in the upper national percentiles, which helps sustain convenience-driven renter appeal and retention.
Amenity access is a relative strength locally (amenity rank 22 of 569 — top quartile), with grocery (96th percentile nationally), restaurants (88th), parks (89th), and pharmacies (89th) all comparing favorably to U.S. neighborhoods overall. These services tend to underpin leasing velocity for workforce and lifestyle renters alike.
From a demand standpoint, the neighborhood’s share of renter-occupied housing is high (57.6% renter concentration; rank 50 of 569 — top quartile), indicating depth in the tenant pool and potential support for occupancy stability even when the neighborhood-wide occupancy rate trends closer to the lower half of the metro distribution. Median contract rents in the neighborhood track around the national midpoint, while a rent-to-income ratio near 0.25 suggests relatively manageable rent burdens that can aid retention, though it may temper near-term pricing power.
Demographic statistics aggregated within a 3-mile radius show modest population contraction over the last five years alongside growth in household counts and smaller average household sizes. This combination typically points to more, smaller households and an expanding renter pool, which can support multifamily demand even as overall population growth softens.
School quality is comparatively weaker (average rating near the lower national tier), which investors should weigh in underwriting for family-oriented unit mixes. Home values in the immediate area are lower than many U.S. neighborhoods, creating a more accessible ownership market; however, urban convenience and renter-preferred amenities help sustain reliance on multifamily housing for a large share of households.
Relative to the Cleveland-Elyria metro, the neighborhood’s safety profile trends below the metro median (crime rank 451 out of 569). Nationally, the area sits in the lower percentiles for safety, which investors should account for in marketing and security planning.
Recent trends provide a constructive signal: estimated property crime has declined year over year, improving faster than many U.S. neighborhoods. While this doesn’t remove risk, it suggests conditions have been moving in a favorable direction. As always, safety can vary block to block; the framing here reflects neighborhood-level comparisons rather than site-specific conditions.
Proximity to downtown anchors and corporate headquarters supports commute convenience and renter demand, with employers concentrated within a 4–7 mile radius including Sherwin-Williams, KeyCorp, PNC Center, Time Warner Cable operations, and TravelCenters of America. These nodes provide a diverse white-collar employment base that can stabilize leasing through cycles.
- Sherwin-Williams — corporate offices (3.8 miles) — HQ
- Keycorp — corporate offices (3.8 miles) — HQ
- PNC Center — corporate offices (4.1 miles)
- Time Warner Cable Payment Center — corporate offices (5.3 miles)
- Travelcenters Of America — corporate offices (7.0 miles) — HQ
11426 Clifton Blvd brings 108 units to a renter-heavy Urban Core location where neighborhood amenities and corporate employment access support consistent demand. The asset’s 1974 vintage is newer than the area’s average housing stock, offering relative competitiveness versus older buildings while leaving room for targeted system upgrades and value-add finishes over time. According to CRE market data from WDSuite, the neighborhood ranks in the metro’s top quartile for overall quality and amenities, while renter concentration is also in the top quartile — a combination that can help sustain occupancy even when broader occupancy trends run closer to the metro’s lower half.
Within a 3-mile radius, household counts have grown despite modest population decline, and projections indicate further household growth alongside rising incomes, which can expand the tenant base for a mix of unit types. Lower home values locally point to a high-cost-of-capital ownership environment relative to incomes that sustains reliance on rental housing, though relatively low rent-to-income levels imply measured pricing power. Underwriting should account for neighborhood safety considerations and school ratings when calibrating renewal strategies and unit mix.
- Renter-heavy submarket with top-quartile neighborhood and amenity rankings supporting leasing durability
- 1974 vintage offers competitive positioning versus older stock with practical value-add and systems upgrade potential
- Household growth and rising incomes within 3 miles expand the tenant base and support occupancy stability
- Lower home values reinforce multifamily reliance; rent-to-income near 0.25 supports retention but tempers pricing power
- Key risks: below-metro-average safety and weaker school ratings require thoughtful security, amenity, and renewal strategies