| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 69th | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 53 W Town St, Columbus, OH, 43215, US |
| Region / Metro | Columbus |
| Year of Construction | 2010 |
| Units | 45 |
| Transaction Date | 2007-11-15 |
| Transaction Price | $100,000 |
| Buyer | SOUTH FRONT STREET EAST LTD |
| Seller | LIFESTYLE REAL ESTATE HOLDINGS LTD |
53 W Town St, Columbus Multifamily Opportunity
Downtown fundamentals favor renter demand, with an A+ neighborhood profile and elevated ownership costs supporting leasing resiliency, according to WDSuite’s CRE market data.
The property sits in an A+ rated Downtown Columbus neighborhood ranked 16 out of 580 in the metro, indicating competitive fundamentals relative to other Columbus locations. Local housing skews renter-occupied, with a high renter concentration that points to a deep tenant base and consistent multifamily demand. Neighborhood occupancy trends are mixed, so execution around leasing and renewals remains important for stability.
Everyday convenience is strong for dining, parks, and services: restaurants and parks index in the top quartile nationally, and cafes and pharmacies are competitive within the metro. Childcare density is also a relative strength (top-tier metro rank). Grocery options are more limited within the immediate neighborhood, suggesting residents often rely on adjacent districts for full-service shopping.
Construction in the surrounding area averages older stock (late-1960s), while this asset’s 2010 vintage should position it competitively versus legacy buildings. Investors should still underwrite for periodic system upgrades or light modernization to support rentability against newer deliveries.
Within a 3-mile radius, demographic data show recent population growth and a forecasted increase in both households and incomes by 2028, alongside smaller average household sizes. These trends expand the renter pool and support leasing depth for professionally managed multifamily, while the neighborhood’s elevated home values relative to income reinforce reliance on rental options and can sustain pricing power with careful lease management.
Safety metrics in this neighborhood trend below metro and national benchmarks. The area’s crime rank places it 442 out of 580 Columbus neighborhoods, and national percentiles indicate lower relative safety compared with many U.S. neighborhoods. For investors, this typically calls for attentive property management, visibility measures, and resident engagement to support retention and day-to-day operations.
Trends can vary block to block and over time; operators often mitigate risk through access control, lighting, and coordination with local resources. Positioning the asset’s security and resident experience thoughtfully can help maintain leasing performance even as regional conditions evolve.
Proximity to major downtown employers underpins workforce housing demand and commute convenience, notably from American Electric Power, Nationwide, Dr Pepper Snapple Group, Big Lots, and Wesco Distribution.
- American Electric Power — utilities (0.5 miles) — HQ
- Nationwide — insurance/financial services (0.7 miles) — HQ
- Dr Pepper Snapple Group — beverages (5.2 miles)
- Big Lots — discount retail (5.7 miles) — HQ
- Wesco Distribution — electrical distribution (5.8 miles)
This 2010, 45-unit asset offers competitively positioned product in a downtown Columbus neighborhood with strong amenity access and an A+ metro ranking. A high share of renter-occupied housing signals depth of demand, while elevated home values relative to incomes support renter reliance and potential pricing power. According to CRE market data from WDSuite, neighborhood occupancy sits below national medians, so outcomes will hinge on hands-on leasing and renewal execution.
Within a 3-mile radius, recent population growth and a projected increase in households by 2028 point to a larger tenant base, alongside smaller household sizes that typically favor multifamily rentals. The 2010 vintage should compete well against older local stock, though investors should budget for targeted modernization to sustain absorption and retention as new deliveries come online.
- Downtown A+ location with top-tier dining, parks, and services supporting renter appeal
- High renter concentration and elevated ownership costs reinforce multifamily demand depth
- 2010 construction offers competitive positioning versus older area stock; plan for selective updates
- 3-mile demographics show growth in households and incomes, expanding the tenant base
- Risks: neighborhood safety ranks below metro averages and occupancy is mixed—active management and security investments are key