| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 68th | Good |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1620 Lonsdale Rd, Columbus, OH, 43232, US |
| Region / Metro | Columbus |
| Year of Construction | 1981 |
| Units | 57 |
| Transaction Date | 2006-05-30 |
| Transaction Price | $1,830,000 |
| Buyer | COLLINS ROAD PROPERTIES LTD |
| Seller | CASTLETON GARDENS LTD |
1620 Lonsdale Rd, Columbus OH multifamily opportunity
Neighborhood occupancy is exceptionally tight and ranks at the top of the Columbus metro, according to WDSuite’s CRE market data, suggesting durable tenant demand at the submarket level rather than at this specific property.
Located in an inner-suburb pocket of Columbus with an A- neighborhood rating (ranked 133 of 580 metro neighborhoods), the area is competitive within the metro and benefits from steady renter demand. Neighborhood occupancy is the strongest in the region (1 of 580), a signal of limited slack that can support rent collections and leasing velocity; this is measured for the neighborhood, not the property.
Livability is mixed. Restaurant density sits above national medians (around the 70th percentile), and pharmacy access tracks similarly strong. By contrast, the immediate footprint shows limited cafes, grocery, and park density, indicating residents likely rely on nearby corridors for daily needs. For investors, this combination points to workforce-oriented appeal with drive-to amenities rather than walkable retail.
Housing fundamentals compare well. The neighborhood’s housing profile ranks near the top among 580 Columbus neighborhoods, while median contract rents sit around the middle of national distributions with a moderate rent-to-income relationship. Together, these factors can aid retention without relying on outsized rent growth.
Tenure patterns and demographics support a stable renter base. The neighborhood’s renter-occupied share is elevated versus national norms (above the 80th percentile), indicating depth for multifamily leasing, while 3-mile radius demographics show recent population and household growth with further household increases projected, expanding the local renter pool. The property’s 1981 vintage is older than the neighborhood’s average stock from the mid-1990s, which may present value-add and capital planning opportunities to sharpen competitive positioning.
Safety indicators in this neighborhood track below national and metro benchmarks. The area sits in the lower national percentiles for safety and ranks in the lower half of Columbus (331 out of 580 neighborhoods), indicating comparatively higher reported crime levels than many local peers. Recent year-over-year trends point to increases in both property and violent incidents at the neighborhood level.
For investors, this calls for pragmatic underwriting: enhanced on-site security measures, lighting, and resident engagement can help support operations and retention. It’s also prudent to compare block-level patterns, property design, and management practices against the broader neighborhood trend before drawing conclusions.
Proximity to a diverse employment base supports workforce housing demand and commute convenience, led by beverage, distribution, electronics services, retail headquarters, and business services within roughly 5–8 miles.
- Dr Pepper Snapple Group — beverages (4.7 miles)
- Wesco Distribution — distribution (6.2 miles)
- Avnet Services - LifeCycle Solutions — electronics services (7.2 miles)
- L Brands — retail (8.0 miles) — HQ
- The Xerox Company — business services (8.4 miles)
This 57-unit, 1981-vintage asset sits in a Columbus inner-suburban neighborhood that ranks competitive within the metro and exhibits the strongest neighborhood-level occupancy in the region. Based on CRE market data from WDSuite, rents position near national midpoints and the rent-to-income relationship is moderate, supporting retention while leaving room for targeted upgrades. Given the asset’s older vintage relative to the area’s mid-1990s average, a focused value-add program and capital planning could improve unit competitiveness against newer stock.
Demand fundamentals are reinforced by an elevated renter-occupied presence in the neighborhood and 3-mile radius projections that point to continued household growth, expanding the tenant base. Livability is serviceable—with restaurants and pharmacies relatively accessible—while limited walkable grocery and parks suggests a drive-to amenity profile typical of workforce housing. Underwriting should account for below-average safety metrics at the neighborhood level and the associated operating practices required to sustain occupancy and collections.
- Tight neighborhood occupancy supports leasing stability and collections
- Moderate rent-to-income positioning aids retention with room for targeted upgrades
- 1981 vintage offers value-add and capital planning opportunities versus newer local stock
- Diverse employers within 5–8 miles bolster workforce renter demand
- Risks: below-metro safety metrics and limited walkable amenities warrant operational focus