| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 72nd | Best |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16301 Chagrin Blvd, Cleveland, OH, 44120, US |
| Region / Metro | Cleveland |
| Year of Construction | 2012 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
16301 Chagrin Blvd Cleveland Multifamily Investment
Built in 2012, this 22-unit asset offers newer construction relative to nearby stock and benefits from neighborhood occupancy that sits around the national midpoint, according to CRE market data from WDSuite. The investment angle centers on durable renter demand supported by a broad 3-mile tenant base and steady income fundamentals.
This Inner Suburb location in the Cleveland–Elyria metro rates B- overall and is positioned 311 out of 569 metro neighborhoods, placing it around the metro median, based on CRE market data from WDSuite. Neighborhood occupancy is near the national midpoint and has trended upward over the last five years; this is a neighborhood-level metric and not specific to the property.
Livability is mixed: childcare access is a relative strength (top decile nationally), while cafes, groceries, parks, and pharmacies are sparse within the neighborhood footprint. Average school ratings land modestly above the national midpoint, which can support family-oriented renter retention.
For renters, the ownership landscape features mid-range home values and a value-to-income profile that suggests ownership is more accessible than in many high-cost markets. That context can introduce competition from for-sale options, but rent-to-income ratios sit favorably (higher national percentile for affordability), which can underpin lease stability and pricing discipline for well-positioned multifamily.
Demographics aggregated within a 3-mile radius indicate a broad and diverse renter pool: households have increased recently despite flat-to-soft population trends, implying smaller household sizes and sustained demand for rental housing. Forecasts point to notable household growth by 2028, which would expand the tenant base and support occupancy and leasing velocity if realized. The neighborhood’s average construction year skews older (1940s), so a 2012 vintage property offers competitive positioning versus much of the surrounding stock while still warranting typical mid-life systems planning over the hold.
Safety metrics are mixed when benchmarked to the region and nation. The neighborhood ranks 447 out of 569 Cleveland–Elyria neighborhoods for crime, which places it below the metro median and below national safety benchmarks. Nationally, it falls into lower percentiles for safety, indicating investors should underwrite prudent security and operational measures.
Recent year-over-year estimates show property and violent offense rates moving higher at the neighborhood level, per WDSuite’s CRE data. While these are neighborhood-wide figures rather than property-specific, they support conservative assumptions for loss prevention, lighting, access control, and resident communication during asset management.
Proximity to major Cleveland employers supports commuter convenience and broadens the renter base for workforce and professional households. Nearby anchors include Parker-Hannifin, Time Warner Cable operations, PNC Center, Sherwin-Williams, and KeyCorp.
- Parker-Hannifin — diversified industrials (6.2 miles) — HQ
- Time Warner Cable Payment Center — telecom/customer services (6.4 miles)
- PNC Center — financial services offices (6.8 miles)
- Sherwin-Williams — coatings & corporate offices (7.0 miles) — HQ
- KeyCorp — banking headquarters (7.1 miles) — HQ
The 2012 vintage provides a competitive edge versus an older local housing stock, helping the asset stand out on quality and systems while remaining positioned for targeted value-add over the hold. Neighborhood occupancy sits around the national midpoint and has improved over five years, and the 3-mile area shows a larger, diversifying household base that can support multifamily demand even as population trends remain mixed.
According to CRE market data from WDSuite, rent-to-income dynamics indicate relatively manageable renter affordability, which can aid renewal capture and reduce turnover risk when paired with disciplined operations. Access to several regional employers within an 8-mile commute reinforces demand depth and leasing stability, though investors should consider security planning and the limited immediate amenity mix in underwriting.
- Newer 2012 construction versus older neighborhood stock enhances competitive positioning and reduces near-term capital intensity.
- Neighborhood occupancy trends and a growing 3-mile household base support tenant demand and leasing stability.
- Favorable rent-to-income profile supports retention and disciplined rent growth strategies.
- Commutable access to HQs and major employers underpins workforce and professional renter demand.
- Risks: neighborhood safety metrics below national benchmarks and limited nearby retail amenities warrant conservative underwriting.