| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 49th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 35900 Westminister Ave, North Ridgeville, OH, 44039, US |
| Region / Metro | North Ridgeville |
| Year of Construction | 1987 |
| Units | 66 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
35900 Westminister Ave North Ridgeville Multifamily Opportunity
Neighborhood occupancy trends are above the national median and competitive within the Cleveland–Elyria metro, suggesting steady renter demand, according to WDSuite’s CRE market data. With modest rent-to-income levels in the area, lease retention and pricing discipline can be managed conservatively.
This inner-suburb location in North Ridgeville offers suburban living with access to regional job centers. Neighborhood occupancy is above the metro median (ranked 250 out of 569), placing it in the upper range nationally as well, which supports stability for multifamily operations. Renter-occupied housing accounts for roughly a third of units in the neighborhood (31.7%), which is competitive among Cleveland–Elyria neighborhoods and provides a defined tenant base for smaller formats.
At the property level, the 1987 vintage is slightly older than the neighborhood’s average construction year (1989). Investors should plan for targeted capital improvements (exteriors, unit finishes, building systems) to protect competitiveness against newer suburban product while unlocking value-add potential.
Within a 3-mile radius, demographics show population and household growth over the last five years, with additional gains forecast. A growing household count and high median incomes point to a larger tenant base over time; this expansion supports occupancy stability for efficiently sized units. The area skews more owner-occupied on a 3-mile basis, which can limit depth in any given lease-up but tends to favor steady tenancy and longer retention among renters who value suburban settings.
Home values are comparatively accessible for the metro, and neighborhood rent-to-income levels remain moderate. For investors, this mix implies manageable affordability pressure and supports disciplined rent strategies that balance pricing power with retention. Local amenity density is limited in the immediate blocks, so residents typically rely on nearby commercial corridors for daily needs—an operational consideration for marketing and positioning.
Safety indicators benchmark favorably in national comparisons, with the neighborhood scoring in higher percentiles for both property and violent offense rates. Recent year-over-year trends point to notable declines in reported offense rates, reinforcing a stable operating backdrop relative to many peer neighborhoods nationwide.
At the metro level, conditions compare well versus large urban cores. As always, performance can vary by block and over time; prudent investors should align on standard best practices in lighting, access control, and resident engagement to maintain the area’s positive trajectory.
Proximity to diversified employers supports commuter convenience and renter retention, with a mix of technology, logistics, and corporate services within typical suburban drive times. The list below highlights nearby anchors relevant to the resident workforce.
- Texas Instruments — technology (6.1 miles)
- TravelCenters of America — corporate services (6.9 miles) — HQ
- Sherwin-Williams — manufacturing & corporate (17.6 miles) — HQ
- KeyCorp — financial services (17.7 miles) — HQ
- PNC Center — financial services (17.9 miles)
35900 Westminister Ave is a 66-unit, efficiency-leaning asset (average unit size near 420 sq. ft.) in a suburban Cleveland submarket where neighborhood occupancy trends sit above the metro median. According to CRE market data from WDSuite, the surrounding neighborhood’s renter concentration is competitive within the metro, and rent-to-income levels are moderate—factors that support stable collections and measured rent growth strategies.
Built in 1987, the asset may benefit from targeted renovations to common areas, interiors, and building systems to stay competitive against newer stock. Within a 3-mile radius, population and households have expanded and are projected to continue rising, pointing to a gradually enlarging tenant base over the hold period. While the broader area is owner-tilted and amenity density is limited in the immediate blocks, proximity to diversified employment nodes and accessible ownership costs help sustain steady rental demand for well-managed, smaller-format units.
- Above-metro neighborhood occupancy supports cash flow stability
- 1987 vintage with clear value-add and systems-upgrade pathways
- 3-mile population and household growth expands the renter pool over time
- Moderate rent-to-income profile favors disciplined pricing and retention
- Risks: owner-heavy area and low immediate amenity density may temper lease-up velocity