| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 58th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4140 Appian Way Ct, Gahanna, OH, 43230, US |
| Region / Metro | Gahanna |
| Year of Construction | 1989 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4140 Appian Way Ct Gahanna Multifamily Investment
Neighborhood occupancy has held in the mid-90s with a high renter concentration, supporting steady leasing conditions according to WDSuite’s CRE market data.
Situated in Gahanna within the Columbus metro, the property sits in a neighborhood rated B+ and ranked 160 out of 580 — competitive among Columbus neighborhoods. For investors, this positioning signals balanced fundamentals without paying a premium for a top-quartile location.
Operating context is favorable for multifamily: neighborhood occupancy is around 95% (top-quartile nationally), and roughly 60% of housing units are renter-occupied, indicating a deep tenant base that can support occupancy stability and renewal rates. Within a 3-mile radius, population and household counts have grown over the past five years, with forecasts calling for further household expansion by 2028 — pointing to renter pool expansion and sustained demand for rental units.
The 1989 vintage is newer than the neighborhood’s average 1980 construction year, suggesting relative competitiveness against older stock. Investors should still plan for targeted modernization and system upgrades typical of late-1980s assets to preserve positioning and support rent trade-outs.
Local amenities are service-oriented rather than lifestyle dense. Grocery and pharmacy access track above national medians, while cafes, restaurants, and parks are less concentrated nearby. Childcare availability scores well versus national peers, which can aid retention for family renters. Home values in the neighborhood reflect a high-cost ownership market relative to incomes, which tends to reinforce reliance on multifamily housing; rent-to-income levels suggest manageable affordability pressure, supporting lease retention and measured pricing power.
Safety metrics should be viewed in context. The neighborhood’s overall crime rank is 327 out of 580 Columbus metro neighborhoods, indicating below-metro-average safety. Nationally, safety sits in lower percentiles (overall near the 26th percentile), with violent incidents weaker (around the 19th percentile) and property-related measures comparatively better (about the 32nd percentile) versus neighborhoods nationwide.
Recent trends are mixed: estimates show a modest year-over-year decline in property offenses, while violent-offense estimates increased. Investors may want to underwrite prudent security measures and active management, and monitor metro and neighborhood trends over time rather than relying on a single-year snapshot.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience, including L Brands, Wesco Distribution, Dr Pepper Snapple Group, Nationwide, and American Electric Power.
- L Brands — corporate offices (0.5 miles) — HQ
- Wesco Distribution — distribution services (3.5 miles)
- Dr Pepper Snapple Group — beverage corporate offices (5.0 miles)
- Nationwide — insurance & financial services (8.5 miles) — HQ
- American Electric Power — utilities corporate offices (8.8 miles) — HQ
This 80-unit, 1989-vintage asset benefits from a renter-heavy neighborhood with occupancy near the mid-90s and household growth in the 3-mile trade area, underpinning leasing stability. Newer-than-average vintage versus the submarket’s 1980 mean offers a competitive edge over older stock with scope for targeted value-add to refresh interiors and building systems.
Proximity to major employers across corporate, insurance, and utilities sectors supports demand depth and retention. According to CRE market data from WDSuite, neighborhood occupancy trends screen above national medians, while rent-to-income levels indicate manageable affordability pressure — a backdrop conducive to steady operations and disciplined rent growth management, with attention to localized safety trends and amenity-light blocks.
- Renter-heavy neighborhood and mid-90s occupancy support stable cash flows
- 1989 vintage is competitive versus older local stock with selective value-add upside
- Strong employer proximity (HQs and corporate offices) bolsters leasing and retention
- Rent-to-income levels suggest room for disciplined pricing while managing retention
- Risks: below-metro-average safety and thinner lifestyle amenities require active management