| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 29th | Poor |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2025 E 81st St, Cleveland, OH, 44103, US |
| Region / Metro | Cleveland |
| Year of Construction | 1992 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2025 E 81st St Cleveland Multifamily Value-Add Position
Renter demand is supported by a majority of renter-occupied housing in the surrounding neighborhood and proximity to major downtown employers, according to WDSuite’s CRE market data. Near-term upside hinges on operational execution in a submarket with below-median occupancy but improving neighborhood amenities.
Located in Cleveland’s Inner Suburb, the property sits in a neighborhood rated B- with daily necessities close by. Amenity access is competitive among 569 Cleveland–Elyria neighborhoods (amenity rank 29 of 569), and national amenity measures trend above average, with restaurants, groceries, pharmacies, and cafes all in higher national percentiles. Limited park space nearby suggests residents rely more on urban amenities than open green areas.
The neighborhood’s housing stock skews older (average vintage 1917 across the area), while this asset’s 1992 construction provides relative competitiveness versus legacy buildings. Investors should plan for targeted systems updates typical of early-1990s assets, while leveraging the contrast to older nearby inventory for leasing positioning.
Neighborhood occupancy is below the metro median (rank 506 of 569), which places a premium on property-level leasing execution. At the same time, the neighborhood shows a meaningful renter base: 56.7% of housing units are renter-occupied, indicating depth for multifamily demand. Within a 3-mile radius, roughly seven in ten housing units are renter-occupied, reinforcing the local tenant pool for stabilized operations.
Within a 3-mile radius, recent trends show small population declines but rising incomes, with projections pointing to population growth and a notable increase in households by 2028. This combination supports a larger tenant base and potential absorption tailwinds even as affordability management remains important. Low home values in the immediate neighborhood indicate a more accessible ownership market, which can introduce competitive pressure on pricing and renewals; however, lower rent-to-income ratios locally suggest manageable retention risk if rents are set with careful underwriting.
Safety indicators are mixed. Relative to 569 Cleveland–Elyria neighborhoods, the area’s crime rank (452 of 569) and national percentiles in the lower third indicate higher incident levels than many peer areas. However, year-over-year trends show improvement, with both violent and property offenses declining, which is consistent with a stabilizing pattern seen in segments of the metro.
Investors typically account for these dynamics with proactive PM strategies, lighting and access controls, and community engagement. Underwriting should reflect the comparative safety profile while recognizing the recent directional improvement.
Proximity to Downtown Cleveland anchors a diverse employment base that supports workforce housing demand and commute convenience. Nearby corporate offices include telecom services, banking, and Fortune 500 headquarters that can aid leasing and retention.
- Time Warner Cable Payment Center — telecom services (2.2 miles)
- PNC Center — banking offices (3.0 miles)
- KeyCorp — banking HQ (3.2 miles) — HQ
- Sherwin-Williams — coatings & corporate offices (3.2 miles) — HQ
- Parker-Hannifin — industrial manufacturing (8.9 miles) — HQ
This 40-unit, 1992-vintage asset offers relative competitiveness versus older neighborhood stock and access to a deep renter base. While neighborhood occupancy trends below the metro median, proximity to downtown employers and strong daily conveniences can support leasing if operations are disciplined. Based on CRE market data from WDSuite, the surrounding neighborhood shows a majority of renter-occupied units and improving amenity positioning, which can help stabilize performance as households in the 3-mile radius are projected to grow.
Investor focus should center on value-add execution, targeted capital planning typical of early-1990s systems, and pricing calibrated to a market where ownership is relatively accessible. Safety metrics trail metro peers but have improved year over year, and underwriting should incorporate enhanced property management, security, and resident programming to sustain occupancy and retention.
- 1992 construction provides competitive positioning versus older neighborhood stock, with targeted modernization potential
- Deep renter base locally and within 3 miles supports tenant demand and occupancy stability
- Walk-to-need amenities and downtown employer access aid leasing and retention
- Pricing power should be balanced against accessible ownership alternatives and below-median neighborhood occupancy
- Risk: comparative safety ranks require proactive PM and security budgeting despite recent improvement trends