| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 22nd | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7520 Woodland Ave, Cleveland, OH, 44104, US |
| Region / Metro | Cleveland |
| Year of Construction | 1999 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7520 Woodland Ave Cleveland 60-Unit Multifamily
Neighborhood-level occupancy sits around the mid-range and renter concentration is high, according to WDSuite’s CRE market data, supporting consistent tenant demand for this 60-unit asset.
Situated in Cleveland’s inner-suburb fabric with a C- neighborhood rating, the area is characterized by workforce housing and a renter-occupied share near the top of the metro (71.7% of units are renter-occupied across the neighborhood). For a multifamily owner, that depth of renter households points to a broad tenant base and steady leasing activity.
The property’s 1999 vintage is newer than much of the surrounding housing stock (average construction year 1943). That relative youth can support competitive positioning versus older buildings, while still warranting routine capital planning for aging systems and potential value-add finishes to meet current renter expectations.
Local amenities are mixed: restaurant density is competitive nationally (around the 75th percentile), while cafes, groceries, parks, and pharmacies are limited within the immediate neighborhood. School quality measures trend below metro norms, so family-oriented demand may be more price-sensitive. Neighborhood occupancy is near the national mid-range, indicating generally stable leasing but not outsized tightness.
Within a 3-mile radius, recent years show a modest population dip but a small increase in households, suggesting smaller household sizes and persistence of rental demand. Forward-looking projections indicate growth in households over the next five years, which would expand the renter pool and support occupancy and absorption, based on CRE market data from WDSuite.
Safety outcomes in this neighborhood trend below metro averages, with crime metrics placing the area among weaker-performing parts of the Cleveland–Elyria metro. In national terms, the neighborhood sits in lower percentiles for safety compared with neighborhoods nationwide.
That said, recent year-over-year estimates indicate modest declines in both property and violent offense rates, pointing to incremental improvement. Investors should underwrite appropriate security, lighting, and operational protocols and consider how safety perceptions may influence leasing velocity and retention.
Proximity to Downtown Cleveland’s employment core supports commuter convenience for renters, with nearby roles in telecom services, banking, and corporate headquarters that can aid leasing stability.
- Time Warner Cable Payment Center — telecom customer services (2.6 miles)
- PNC Center — banking offices (2.9 miles)
- Keycorp — banking HQ (3.1 miles) — HQ
- Sherwin-Williams — paint & coatings corporate (3.1 miles) — HQ
- Airgas Merchant Gases — industrial gases offices (6.2 miles)
This 60-unit asset offers durable renter demand in a neighborhood with a high share of renter-occupied housing, while the 1999 construction provides a relative edge versus older local stock. Neighborhood occupancy trends sit near the national mid-range; according to CRE market data from WDSuite, that backdrop supports consistent leasing with room for operational upside through targeted renovations and professional management.
Within a 3-mile radius, recent household growth alongside smaller household sizes, and projections for further increases in households, point to renter pool expansion that can support occupancy and absorption. Ownership costs in the area are comparatively accessible, which can create some competition with entry-level ownership; however, the elevated renter concentration suggests multifamily remains a primary housing option, keeping demand resilient for well-managed properties.
- 1999 vintage outcompetes older neighborhood stock, with value-add and systems planning opportunities.
- High neighborhood renter concentration supports a broad tenant base and leasing stability.
- Household growth projected within 3 miles indicates a larger renter pool and sustained absorption.
- Operational upside via renovations and management efficiency in a mid-range occupancy environment.
- Risks: below-average safety metrics and amenity gaps; potential competition from entry-level ownership alternatives.