| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 29th | Poor |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8100 Central Ave, Cleveland, OH, 44104, US |
| Region / Metro | Cleveland |
| Year of Construction | 2004 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8100 Central Ave Cleveland Multifamily Investment
Renter demand is supported by a high renter concentration in the surrounding area and proximity to downtown employment, according to WDSuite’s CRE market data. Neighborhood occupancy has trailed national averages, so underwriting should prioritize leasing strategy and retention.
The property sits in an Inner Suburb of Cleveland where daily needs are close at hand. Pharmacy access is notably strong (top national tier by density), and restaurants, cafes, childcare, and grocery options rank competitive among 569 Cleveland–Elyria neighborhoods. Parks are limited locally, which may reduce open-space appeal but concentrates activity near commercial corridors—an important leasing consideration for workforce renters.
Neighborhood occupancy is below the metro median, while the renter-occupied share is high—measured at the neighborhood level—which signals a sizable tenant base but requires active management to sustain occupancy and collections. Median home values in the neighborhood are low relative to national norms; for investors, that can introduce some competition from ownership options and may cap near-term rent levels, but it also supports steady demand for more accessible rental options.
Within a 3-mile radius, demographics indicate a large renter pool today and expansion ahead: households are projected to increase meaningfully by 2028 alongside income gains, supporting a larger tenant base and helping stabilize occupancy. Population growth and a shift toward higher income brackets point to gradually improving rent fundamentals and deeper demand for renovated units.
Based on WDSuite’s commercial real estate analysis, the neighborhood’s amenity access supports resident convenience, while softer neighborhood occupancy and limited open space are the main operational watch items. Investors should plan for competitive positioning—finish levels, security, and service—to capture demand from nearby employment centers.
Safety indicators for the neighborhood rank below the metro median among 569 Cleveland–Elyria neighborhoods and sit in a low national percentile, indicating higher crime levels relative to U.S. neighborhoods. However, recent trends show year-over-year declines in both violent and property offenses, suggesting conditions have been improving rather than deteriorating.
For underwriting, this points to practical measures: emphasize on-site lighting, access controls, and resident engagement to support retention and leasing, and benchmark premiums against similarly situated Cleveland neighborhoods rather than top-quartile submarkets.
Proximity to downtown anchors a diverse employment base that supports renter demand, including telecom services, financial services offices, and several corporate headquarters. The employers below reflect realistic commute times that can aid leasing and retention.
- Time Warner Cable Payment Center — telecom services (2.4 miles)
- PNC Center — financial services offices (3.0 miles)
- Sherwin-Williams — coatings (3.2 miles) — HQ
- Keycorp — bank holding company (3.2 miles) — HQ
- Parker-Hannifin — diversified manufacturing (8.9 miles) — HQ
Built in 2004, the 54-unit asset is materially newer than much of the local housing stock, positioning it competitively versus prewar properties while still benefiting from modernization opportunities as systems age. The immediate neighborhood shows softer occupancy, but a high renter concentration supports demand depth, and nearby employment nodes provide a steady leasing funnel. Within a 3-mile radius, forecasts point to population growth, a substantial increase in households by 2028, and rising incomes—factors that expand the tenant base and can support rent and occupancy stabilization over the hold period.
According to CRE market data from WDSuite, amenity access is strong while safety ranks below the metro median but has improved year over year, which underscores the value of security-forward operations and careful rent positioning. Given low neighborhood home values, ownership can be a credible alternative for some renters; success will hinge on value-oriented renovations and service quality to sustain pricing power and lease retention.
- 2004 vintage offers competitive positioning versus older stock with targeted value-add upside
- High renter concentration and proximity to major employers support a deep tenant base
- 3-mile forecasts show population and household growth, reinforcing leasing and occupancy stability
- Strong amenity access aids retention; limited parks and below-metro safety are manageable with on-site measures
- Risk: softer neighborhood occupancy and low ownership costs require disciplined rent strategy and asset differentiation