| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 43rd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4733 Lee Rd, Cleveland, OH, 44128, US |
| Region / Metro | Cleveland |
| Year of Construction | 1983 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4733 Lee Rd Cleveland Apartments Investment
Neighborhood occupancy is 94.1%, indicating steady renter demand, according to WDSuite’s CRE market data. With roughly half of units renter-occupied locally, leasing depth appears durable relative to area norms.
Located in Cleveland’s inner suburb corridor, the area around 4733 Lee Rd shows stable utilization with neighborhood occupancy at 94.1%. Renter-occupied housing represents 47.7% of units, suggesting a meaningful tenant base that can support leasing continuity for workforce-oriented product.
The property’s 1983 vintage is newer than the neighborhood’s average construction year (1954). That typically enhances competitive positioning versus older stock, while still warranting capital planning for aging systems and targeted modernization to capture value-add upside.
Within a 3-mile radius, households increased in recent years even as population was roughly flat, pointing to smaller household sizes and a broader renter pool. Projections indicate further household growth by 2028 alongside rising incomes, which can expand the tenant base and support occupancy stability. Median contract rents in the neighborhood are below national levels, which positions the submarket competitively on price, though effective rent strategies should balance value with operating costs.
Local retail and amenity density is limited, so day-to-day convenience often relies on near‑by commercial corridors rather than immediate walkability. For investors, this dynamic can favor auto-oriented renters and value-focused leasing, particularly where pricing remains competitive versus newer, amenity-rich assets elsewhere in the metro.
Safety indicators in this neighborhood track below national medians, reflecting elevated offense rates relative to many U.S. neighborhoods. Even so, reported property offenses declined by approximately 40% year over year, a positive directional trend that stakeholders should continue to monitor alongside broader metro patterns, based on CRE market data from WDSuite.
- Airgas Merchant Gases — industrial gases (4.8 miles)
- Home Depot Distribution Center — logistics/distribution (6.1 miles)
- Norfolk Southern Motor Yard — rail operations (6.9 miles)
- Parker-Hannifin — diversified manufacturing (7.5 miles) — HQ
- PNC Center — financial services offices (8.1 miles)
Nearby employment is anchored by industrial, logistics, and corporate offices, supporting workforce housing demand and commute convenience for renters who prioritize proximity to jobs from Airgas Merchant Gases, Home Depot Distribution Center, Norfolk Southern Motor Yard, Parker-Hannifin, and PNC Center.
4733 Lee Rd offers an income-oriented profile supported by a renter-occupied share near half of neighborhood housing and an occupancy rate of 94.1%. The 1983 vintage is newer than much of the surrounding stock, which can provide a competitive edge versus midcentury assets while leaving room for targeted renovations to enhance yield. According to CRE market data from WDSuite, neighborhood rents sit below national levels, reinforcing value positioning that can aid retention.
Within a 3-mile radius, households have grown and are projected to increase further by 2028 with rising incomes, implying a larger tenant base and support for leasing stability. Limited immediate amenity density suggests a value- and commute-driven renter profile; proximity to major employers can underpin absorption, while lease management should account for affordability pressure and ongoing safety monitoring.
- Occupancy around the mid-90s supports income stability in a renter-heavy housing context.
- 1983 vintage newer than neighborhood average, with value-add potential via selective modernization.
- Below-national rent levels can aid retention while maintaining competitive positioning.
- 3-mile household growth and rising incomes point to a larger tenant base and leasing support.
- Risks: affordability pressure and below-median safety metrics require careful lease and operating oversight.