| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 56th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8231 Greenwood View Dr, Cleveland, OH, 44129, US |
| Region / Metro | Cleveland |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8231 Greenwood View Dr Cleveland Multifamily Investment
Neighborhood multifamily occupancy is high and amenities are dense, supporting steady leasing and retention, according to WDSuite’s CRE market data. The area’s owner-leaning housing mix points to a stable but selective renter base where well-positioned units can sustain demand.
Rated A and suburban in character, the neighborhood ranks 36 out of 569 Cleveland metro neighborhoods, placing it in the top quartile locally. Amenity access is a strength: grocery, restaurant, park, and pharmacy density all score well compared with neighborhoods nationwide, which helps support day-to-day convenience and renter appeal.
Neighborhood multifamily occupancy is strong and above most U.S. neighborhoods, which can underpin income stability. Renter-occupied housing share is on the lower side for the metro, indicating an owner-leaning area; for investors, that typically translates to a steady but more discerning tenant pool rather than transient turnover.
Within a 3-mile radius, demographics show modest population growth in recent years and projections for further increases alongside rising household counts. This suggests a gradually expanding renter pool and supports occupancy stability, particularly for well-renovated product that competes effectively on finishes and management.
Home values are moderate in the local context, and rent-to-income readings suggest manageable affordability pressure. For multifamily investors, that combination can support lease retention while allowing disciplined rent adjustments tied to demonstrated property upgrades and service quality.
Vintage matters for positioning. The property was built in 1973, which is older than the average construction year in the surrounding neighborhoods. Investors should plan for targeted capital expenditures and consider value-add renovations to modernize systems and interiors, positioning the asset competitively against newer stock.
Safety indicators trend below the national median, with the neighborhood’s crime standing also below the metro average. In metro context, the area ranks 511 out of 569 neighborhoods, signaling elevated crime relative to many Cleveland-area submarkets.
Recent trends are mixed: property-related incidents have improved year over year, while other categories have shown volatility. Investors commonly address this by emphasizing lighting, access control, and resident engagement, and by underwriting with conservative loss assumptions consistent with submarket peers.
Proximity to diversified employers underpins workforce housing demand and commute convenience, including industrial gases, semiconductors, coatings, and major banking offices.
- Airgas Merchant Gases — industrial gases (5.3 miles)
- Texas Instruments — semiconductors (8.6 miles)
- Sherwin-Williams — coatings (8.7 miles) — HQ
- KeyCorp — banking (8.9 miles) — HQ
- PNC Center — banking offices (9.0 miles)
This 36-unit 1973 asset sits in a top-quartile Cleveland neighborhood with strong amenity access and high neighborhood multifamily occupancy, supporting steady collections and leasing. The area’s owner-leaning tenure profile suggests a stable but selective renter base, where operational execution and renovations can differentiate product and sustain pricing. According to CRE market data from WDSuite, local rents and rent-to-income levels point to manageable affordability pressure, supporting retention for well-managed properties.
The vintage creates a clear value-add pathway: systems and interiors likely warrant modernization to compete against newer supply, but the setting’s convenience and employer access help reinforce demand. Demographic trends within a 3-mile radius indicate growth in households over the next several years, which can expand the tenant base and support occupancy stability if the asset is positioned correctly.
- High neighborhood occupancy supports income durability
- Amenity-rich location and employer access aid leasing velocity
- 1973 vintage offers value-add potential via targeted renovations
- Manageable rent-to-income readings support retention with disciplined pricing
- Risks: below-median safety indicators and owner-leaning market require prudent operations and underwriting