| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 80th | Best |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 27243 Westown Blvd, Westlake, OH, 44145, US |
| Region / Metro | Westlake |
| Year of Construction | 1972 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
27243 Westown Blvd Westlake Multifamily Investment
Neighborhood occupancy is strong at roughly 97%, supporting stable leasing conditions for a 120-unit asset, according to CRE market data from WDSuite. Positioning in Westlake offers suburban fundamentals with income depth that can sustain demand through cycles.
Westlake’s neighborhood metrics indicate a balanced, higher-income inner-suburb profile within the Cleveland–Elyria metro. The area earns an A- neighborhood rating and ranks 124 out of 569 metro neighborhoods, placing it in the top quartile among local peers. Schools average 4.0 out of 5 and rank 38 of 569, which is top quartile nationally and supports family-oriented renter demand and retention.
Amenity density is modest inside the neighborhood, though parks score competitively (rank 131 of 569), and regional conveniences are accessible within short drives. For investors, the limited immediate retail density can be offset by suburban commute patterns and employer access in the western Cleveland corridor.
Renter-occupied share sits near 30% of housing units in the neighborhood, indicating a defined but not saturated renter base — a profile that tends to support steady absorption without excessive turnover risk. Neighborhood occupancy trends are high (around 97%), reinforcing baseline stability for multifamily operations relative to many suburban submarkets.
Within a 3-mile radius, population and household counts have increased over the last five years, and WDSuite’s data indicates further growth through 2028. Rising incomes and a low rent-to-income ratio (around 12% at the neighborhood level) point to manageable affordability pressure, which can aid pricing power and lease renewal performance. Median home values track above many Midwest suburbs, which in practice can sustain renter reliance on multifamily housing without materially eroding the tenant base.
Vintage context: The property’s 1972 construction predates the neighborhood’s average vintage (early 1980s), suggesting investors should plan for targeted capital projects and potential value-add upgrades to maximize competitiveness against newer stock.
Direct, comparable crime benchmarks are not available for this neighborhood in WDSuite’s dataset. Investors typically contextualize safety by reviewing city and county reporting trends and touring at varied times of day, then pairing those qualitative checks with property-level measures such as lighting, access control, and resident engagement.
Proximity to a diversified employer base supports renter demand and commuting convenience, including transportation services, semiconductors, coatings, and banking offices listed below.
- Travelcenters of America — transportation services (1.8 miles) — HQ
- Texas Instruments — semiconductors (2.3 miles)
- Sherwin-Williams — coatings HQ and offices (12.5 miles) — HQ
- KeyCorp — banking HQ and offices (12.6 miles) — HQ
- PNC Center — financial services offices (12.8 miles)
27243 Westown Blvd offers suburban stability in an A- rated Westlake neighborhood where occupancy trends are elevated and incomes are strong. Based on CRE market data from WDSuite, the neighborhood’s high occupancy and top-quartile local standing, coupled with rising 3-mile population and household counts, point to a durable tenant base and steady leasing performance. The area’s low rent-to-income ratio suggests manageable affordability pressure that can support retention and measured rent growth.
Built in 1972, the asset is older than the neighborhood’s early-1980s average, creating a clear value-add angle through selective interior updates, systems modernization, and exterior enhancements to match renter expectations. Amenity density within the immediate blocks is modest, but access to regional employers and schools offsets that, positioning the property to capture workforce and family renters seeking suburban convenience.
- High neighborhood occupancy and top-quartile local ranking support leasing stability
- Growing 3-mile population and households expand the tenant base through 2028
- Low rent-to-income ratio indicates manageable affordability pressure and renewal potential
- 1972 vintage offers value-add potential via targeted renovations and system upgrades
- Risks: older systems may require capex; limited immediate amenity density could affect walkability appeal