| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 75th | Best |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5000 Brelsford Woods Dr, Westerville, OH, 43081, US |
| Region / Metro | Westerville |
| Year of Construction | 2000 |
| Units | 120 |
| Transaction Date | 2019-07-26 |
| Transaction Price | $14,315,000 |
| Buyer | Philomena Properties, LLC |
| Seller | --- |
5000 Brelsford Woods Dr, Westerville OH Multifamily
Positioned in an inner-suburb pocket with steady renter demand and a renter-occupied share above national norms, this location offers potential for durable leasing, according to WDSuite’s CRE market data. Neighborhood occupancy and rent levels are around national mid-range, supporting consistent performance without relying on premium pricing.
This Westerville address sits in an Inner Suburb neighborhood that is competitive among Columbus neighborhoods (ranked 50 out of 580). Amenity access is a local strength, with restaurants, parks, pharmacies, and cafes scoring above national medians—useful for day-to-day convenience and resident retention.
For investors evaluating demand depth, the neighborhood’s renter-occupied share of housing units is elevated versus the nation (national percentile 84), signaling a broad tenant base that can support leasing velocity and renewal rates. Neighborhood occupancy is near the national midpoint, pointing to stable, not overheated, conditions.
Within a 3-mile radius, population grew by roughly the low teens since 2018 and households increased at a similar pace, with forecasts indicating further expansion over the next five years. This larger tenant base should support occupancy stability and absorption for professionally managed assets.
Ownership costs are moderate in context, and rent-to-income levels sit below national pressure points, which can help with lease retention and collections. While more accessible ownership options can create competition at certain price points, the combination of amenity access and a sizable renter pool underpins multifamily demand.
Neighborhood safety indicators are mixed. The area ranks 281 out of 580 Columbus metro neighborhoods, roughly around the metro midpoint, and sits in the lower third nationally for safety. Investors should underwrite to typical suburban risk management standards.
Recent trends diverge: estimated property offense rates have declined year over year, while estimated violent offense rates increased versus the prior year. These are neighborhood-level indicators; block-level conditions can vary. Sensible measures such as lighting, access control, and resident engagement typically help support leasing and retention.
Nearby corporate offices create a diversified employment base that supports renter demand and commute convenience for workforce and professional tenants. Notable employers include L Brands, Wesco Distribution, Dr Pepper Snapple Group, Nationwide, and American Electric Power.
- L Brands — corporate offices (1.9 miles) — HQ
- Wesco Distribution — distribution (4.9 miles)
- Dr Pepper Snapple Group — beverages (6.3 miles)
- Nationwide — insurance & financial services (10.0 miles) — HQ
- American Electric Power — utilities (10.3 miles) — HQ
At 120 units with larger average floor plans, the property is positioned for scale and resident appeal in a neighborhood that is competitive among Columbus submarkets on livability and renter concentration. Built in 2000—newer than the area’s average vintage—this asset should compare favorably to older stock while still benefitting from targeted modernization to enhance rent positioning and reduce near-term capital uncertainty.
According to CRE market data from WDSuite, neighborhood occupancy and rents sit near national mid-range levels, while the 3-mile radius shows population and household growth, expanding the renter pool and supporting leasing stability. Ownership remains relatively accessible locally, which may create some competition at the margin, but amenity access and employer proximity provide durable multifamily demand drivers.
- Scale advantage: 120 units support operating efficiency and professional management.
- Demand depth: elevated renter-occupied share and 3-mile population/household growth support absorption and renewals.
- Competitive positioning: 2000 vintage offers an edge versus older stock, with value-add potential through focused upgrades.
- Location fundamentals: amenity access and proximity to major employers underpin consistent leasing.
- Key risks: mixed safety trends and accessible ownership options may temper pricing power—underwrite to realistic rent growth and retention assumptions.