| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 39th | Poor |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6905 Ridge Rd, Cleveland, OH, 44129, US |
| Region / Metro | Cleveland |
| Year of Construction | 1988 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6905 Ridge Rd Cleveland Multifamily Investment
Neighborhood metrics point to steady renter demand and mid-range occupancy, according to WDSuite’s CRE market data, with renter-occupied share and recent occupancy gains measured for the surrounding neighborhood rather than the property. Vintage and unit mix suggest a pragmatic value-add path focused on modernization alongside lease management in a cost-conscious submarket.
This Inner Suburb location carries a C+ neighborhood rating (ranked 340 of 569 Cleveland–Elyria neighborhoods), signaling average fundamentals at the metro level but with select strengths investors can underwrite. Schools are a relative bright spot: the area’s average school rating is strong and sits in the top quartile nationally, and it is competitive among Cleveland–Elyria neighborhoods (38 of 569). Restaurants and grocery access rank above the metro median (restaurant rank 231 of 569; grocery rank 246 of 569), while parks, cafes, childcare, and pharmacies are limited within the neighborhood footprint—factors to consider for resident lifestyle positioning.
The property’s 1988 construction is slightly newer than the neighborhood’s average vintage of 1983. For investors, this typically supports competitive positioning versus older stock, while still warranting capital planning for aging systems and targeted renovations to capture value-add upside.
Neighborhood occupancy is around the national middle and has improved over the past five years, supporting a view of stable operations at the submarket level. Renter-occupied housing makes up a meaningful share of units in the neighborhood (40.4%), which is competitive among Cleveland–Elyria neighborhoods (153 of 569). This renter concentration points to depth in the tenant base and supports leasing resilience for workforce-oriented product.
Within a 3-mile radius, demographics show a stable overall population with a modest increase in households, implying slightly smaller household sizes and a gradual expansion of the renter pool. Forward-looking projections point to additional population and household growth by 2028, which should expand the addressable tenant base and support occupancy stability.
From a cost standpoint, the neighborhood reflects a lower-cost ownership market relative to the nation, while median contract rents track near the national middle. For multifamily owners, this combination suggests manageable rent-to-income levels (neighborhood ratio around 0.18) that can aid retention, though lower ownership costs may introduce some competition at renewal. Lease strategy and amenity programming can help sustain pricing power without elevating affordability pressure.
Safety indicators for the neighborhood are below the national median overall, and the area ranks toward the higher-crime side within the Cleveland–Elyria metro (crime rank 403 of 569). Violent offense benchmarks sit in lower national percentiles, while property offense levels are closer to the national middle with recent improvement over the last year. Investors should underwrite prudent security measures and resident experience practices, while noting the directional improvement in property incidents.
As with any infill location, conditions vary by corridor and over time. Comparing trendlines against nearby submarkets and maintaining vendor relationships for lighting, access control, and community standards can help support resident retention and reputation over the hold period.
Proximity to regional employers supports commute convenience and a diversified renter base, with nearby corporate offices spanning industrial gases, coatings, banking, semiconductors, and travel services.
- Airgas Merchant Gases — industrial gases (4.8 miles)
- Sherwin-Williams — coatings & corporate offices (8.5 miles) — HQ
- KeyCorp — banking (8.8 miles) — HQ
- PNC Center — banking offices (8.8 miles)
- Texas Instruments — semiconductors (9.0 miles)
This 40-unit asset, built in 1988, sits slightly newer than the neighborhood average, offering relative competitiveness against older stock while leaving room for targeted modernization to drive rent lift and operating efficiency. Neighborhood occupancy trends are steady and improving, and the surrounding area maintains a meaningful renter-occupied share—tailwinds for leasing stability. According to CRE market data from WDSuite, local rents and home values position the area as a cost-conscious submarket, which helps with retention but requires disciplined amenity and pricing strategies to balance affordability pressure.
Within a 3-mile radius, households are edging higher today with projections for additional growth by 2028, reinforcing a larger tenant base over a typical hold. Amenity access is serviceable for daily needs (restaurants and groceries above the metro median) and schools score well nationally, though limited parks and third-place amenities call for on-site lifestyle touches to support resident experience. Safety indicators trail national medians but show improvement on the property crime side—worth accounting for in capex and operations.
- Slightly newer 1988 vintage supports competitive positioning; value-add modernization can enhance NOI
- Stable neighborhood occupancy and meaningful renter concentration underpin leasing durability
- Cost-conscious submarket aids retention; calibrated rent and amenity strategy manages affordability pressure
- 3-mile household growth outlook expands the tenant base and supports occupancy over time
- Risks: below-median safety metrics and limited parks/cafes; plan for security, activation, and targeted capex