| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 71st | Best |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 839 Sheridan Ave, Bexley, OH, 43209, US |
| Region / Metro | Bexley |
| Year of Construction | 1976 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
839 Sheridan Ave Bexley Multifamily Value-Add Opportunity
Neighboring fundamentals point to steady renter demand and room for operational upside, according to WDSuite’s CRE market data. The neighborhood’s occupancy trend has improved in recent years, supporting an income-focused, renovation-forward strategy.
Bexley’s inner-suburb setting provides daily convenience with dining, grocery, and pharmacy access that ranks in the top quartile among 580 Columbus neighborhoods, while cafés and parks are less concentrated nearby. Average school ratings sit in the top quartile nationally, a family-friendly signal that can bolster retention for larger units.
The property’s 1976 vintage is newer than the neighborhood’s older housing stock (average 1958), positioning it competitively versus pre-1970 assets while still leaving room for modernization of systems and finishes. Renter-occupied housing is a smaller share within the immediate neighborhood, which can temper near-block leasing velocity; however, the 3-mile catchment shows a majority renter-occupied mix, indicating a deeper tenant base for sustained leasing.
Within a 3-mile radius, households have grown and are projected to expand further by 2028, pointing to a larger tenant base and support for occupancy stability. Elevated home values in the neighborhood relative to incomes signal a high-cost ownership market locally, which typically sustains reliance on multifamily rentals and can aid lease retention and pricing power. This context aligns with commercial real estate analysis from WDSuite that shows rents have risen over time and are forecast to continue trending upward at the area level.
Safety indicators are competitive among Columbus neighborhoods (relative to 580 metro neighborhoods), with overall positioning near the national middle. According to WDSuite’s data, both property and violent offense rates have declined year over year, a constructive trend for tenant retention and asset operations.
At the national level, property crime compares somewhat better than violent crime for this neighborhood, suggesting owners should emphasize on-site lighting, access control, and resident engagement to maintain stability while benefiting from the improving trendline.
Proximity to major employers in and around downtown Columbus supports a steady commuter renter base, with a mix of headquarters and regional offices that can underpin leasing and retention.
- Dr Pepper Snapple Group — beverage corporate offices (3.1 miles)
- Nationwide — insurance & financial services (3.6 miles) — HQ
- American Electric Power — utilities corporate offices (3.6 miles) — HQ
- Wesco Distribution — industrial distribution offices (4.5 miles)
- Avnet Services - LifeCycle Solutions — technology services (6.7 miles)
Built in 1976 with 112 units, the asset offers value-add potential relative to older neighborhood stock, alongside stable demand drivers. Neighborhood occupancy sits around the national middle and has improved over the past five years; according to CRE market data from WDSuite, elevated home values versus incomes in the immediate area reinforce renter reliance, while the 3-mile catchment’s larger renter concentration broadens the tenant base.
Forward-looking fundamentals are constructive: households within 3 miles have expanded and are projected to grow further by 2028, and incomes are rising, which supports rent growth and occupancy stability when paired with prudent renovations and operations. Key watch items include NOI per unit that trails national benchmarks, an owner-leaning immediate neighborhood that may modestly slow near-block leasing, and lighter park/café coverage, which places a premium on property-level amenities.
- 1976 vintage creates clear renovation and modernization upside versus older local stock
- Neighborhood occupancy near the national middle with recent improvement supports income durability
- Elevated ownership costs locally and a renter-majority 3-mile radius deepen the tenant base
- Household and income growth within 3 miles point to sustained renter demand through 2028
- Risks: NOI per unit below national benchmarks, owner-heavy immediate area, and thinner park/café coverage