| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 72nd | Best |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1420 Londondale Pkwy, Newark, OH, 43055, US |
| Region / Metro | Newark |
| Year of Construction | 1974 |
| Units | 95 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1420 Londondale Pkwy Newark Multifamily Value‑Add Candidate
Stabilized suburban setting with a broad 3‑mile renter pool and mid-range neighborhood occupancy levels that support steady leasing, according to WDSuite’s CRE market data; note that occupancy metrics reference the neighborhood, not the property.
Located in Newark within the Columbus, OH metro, the neighborhood carries a B- rating and suburban character. Neighborhood occupancy trends are around the national midpoint, indicating generally steady leasing conditions at the area level (these are neighborhood metrics, not property performance). The immediate amenity density is limited, but larger retail and services are reachable within the broader corridor, which aligns with typical suburban commuting patterns.
Vintage positioning matters here: the property was built in 1974, a bit older than the neighborhood’s average vintage. For investors, that points to capital planning and value‑add potential through unit updates, system modernization, and curb appeal improvements that can enhance competitiveness against newer stock.
Within a 3‑mile radius, demographics show a growing base: population and households have increased in recent periods, with incomes trending higher. This supports renter demand depth and can aid lease retention as the renter pool expands. Median contract rents in the surrounding area sit at levels that keep the rent‑to‑income relationship relatively manageable, which can reduce near‑term affordability pressure and support occupancy stability.
Ownership costs in the neighborhood are elevated relative to many areas, which often sustains reliance on rental housing and supports pricing power when paired with quality and convenience. Neighborhood renter concentration is lower than ownership in the immediate area, but the 3‑mile radius reflects a materially larger share of renter‑occupied housing units, reinforcing depth for multifamily demand over the medium term.
Neighborhood safety indicators benchmark near the national midpoint overall, with property offenses trending downward year over year and violent‑crime measures hovering close to national averages. These patterns suggest conditions that are broadly comparable to many U.S. suburbs, with recent momentum in property‑crime improvement. Rankings are measured against the Columbus metro’s neighborhoods and national percentiles compare neighborhoods nationwide.
Regional employment is anchored by corporate and utility headquarters in Greater Columbus, providing diversified white‑collar and industrial demand drivers within commutable distance that can support renter retention and leasing performance. Notable nearby employers include L Brands, Dr Pepper Snapple Group, Wesco Distribution, Nationwide, and American Electric Power.
- L Brands — retail & corporate HQ (23.5 miles) — HQ
- Dr Pepper Snapple Group — beverages & distribution (24.9 miles)
- Wesco Distribution — industrial distribution (25.1 miles)
- Nationwide — insurance & financial services (30.0 miles) — HQ
- American Electric Power — utility services (30.1 miles) — HQ
This 95‑unit property’s 1974 construction points to a clear value‑add thesis: modernization of interiors and building systems can improve competitive positioning against newer suburban stock while targeting stable tenancy supported by a broad 3‑mile renter base. Neighborhood occupancy sits around the national middle, and surrounding homeownership costs tend to sustain reliance on rentals—conditions that can underpin consistent leasing. Based on CRE market data from WDSuite, local rent levels relative to income suggest manageable affordability pressure, supporting retention.
Near‑term risks include thinner amenity density in the immediate neighborhood and a lower neighborhood share of renter‑occupied units versus owners; however, the larger 3‑mile catchment shows stronger renter representation and a diversified employment base within commuting distance. Executing renovations and amenity upgrades should focus on durable finishes and operational reliability to capture demand while balancing affordability.
- 1974 vintage supports a value‑add plan targeting unit and system upgrades for competitive lift
- Broad 3‑mile renter pool and mid‑range neighborhood occupancy bolster leasing stability
- Ownership costs in the area reinforce reliance on rentals, aiding pricing power with quality improvements
- Diversified corporate employers in Columbus within commuting distance support long‑term renter demand
- Risk: limited immediate amenity density and a smaller neighborhood share of renter‑occupied units may slow lease‑up without targeted upgrades