| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 32nd | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1010 Rosemary Blvd, Akron, OH, 44306, US |
| Region / Metro | Akron |
| Year of Construction | 1976 |
| Units | 100 |
| Transaction Date | 2024-10-23 |
| Transaction Price | $5,100,000 |
| Buyer | COLLINSON PRESERVATION ASSOCIATES LLC |
| Seller | NEW HILLWOOD I ASSOCIATES LLC |
1010 Rosemary Blvd Akron Multifamily Investment
Neighborhood renter concentration is strong, supporting a deeper tenant base and potential leasing stability, according to WDSuite’s CRE market data. The area’s relatively accessible rents suggest room for steady occupancy management rather than outsized pricing power.
Located in Akron’s inner-suburb fabric, the area around 1010 Rosemary Blvd offers everyday convenience for workforce renters. Restaurant and grocery density rank competitively within the metro (41 out of 180 neighborhoods), while limited parks, pharmacies, and childcare options temper the amenity mix. For investors, this points to practical day-to-day access with selective gaps that may influence resident retention considerations.
Renter-occupied housing is a majority in this neighborhood (rank 21 of 180; top decile nationally), indicating a sizable tenant pool and depth of demand for multifamily units. Neighborhood occupancy trends sit below the metro median, so lease management and renewal strategies matter more than headline rent growth to sustain cash flow.
Within a 3-mile radius, recent data show relatively flat population levels and stable household counts, with forecasts pointing to a modest increase in population and a more pronounced rise in households alongside smaller average household size. For investors, that combination typically expands the renter pool and supports occupancy over time.
Ownership costs in this submarket are lower than many U.S. areas (home values near the lower national percentiles), which can create some competition with entry-level ownership. However, rent-to-income ratios remain comparatively manageable, which can aid lease retention. The property’s 1976 vintage is slightly newer than the neighborhood’s average stock (1971), offering a modest competitive edge versus older assets, though system modernization and targeted updates may still be warranted for positioning.
Safety benchmarks for the neighborhood trend below national averages, and the area is competitive among Akron neighborhoods (rank 72 out of 180). For underwriting, this suggests prudent assumptions on security measures and resident experience.
Recent WDSuite indicators show double-digit year-over-year declines in both property and violent offense rates in the neighborhood, signaling improvement momentum. Investors may view this trajectory as supportive of leasing stability, while remaining mindful that the current safety profile still trails stronger submarkets.
Proximity to established employers supports workforce housing demand and commute convenience, including major names in manufacturing, utilities, insurance, consumer goods, and rail operations that draw a broad labor pool.
- Goodyear Tire & Rubber — tire manufacturing (1.8 miles) — HQ
- FirstEnergy — utility (3.6 miles) — HQ
- Erie Insurance Group — insurance (13.3 miles)
- J.M. Smucker — consumer packaged goods (19.2 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (20.8 miles)
This 100-unit asset built in 1976 benefits from a majority-renter neighborhood and proximity to large employment hubs, supporting a durable tenant base. While neighborhood occupancy sits below the metro median, rent levels remain comparatively manageable for local incomes, which can aid retention and stabilize cash flow. Based on commercial real estate analysis from WDSuite, the area’s amenity mix is anchored by restaurants and groceries, with fewer parks and childcare options—factors to weigh in resident experience and marketing strategy.
Within a 3-mile radius, forecasts point to modest population growth, a notable increase in households, and smaller household sizes—conditions that typically expand the renter pool and support occupancy over time. The property’s slightly newer-than-average vintage for the area offers a small competitive edge versus older stock, while leaving room for targeted value-add through systems upgrades and common-area refreshes.
- Majority-renter neighborhood provides depth of demand and supports leasing velocity.
- Commute access to major employers underpins workforce housing appeal and retention.
- Forecast growth in households (3-mile radius) supports a larger tenant base and occupancy stability.
- 1976 vintage offers modest competitive positioning with potential value-add via modernization.
- Risks: neighborhood occupancy below metro median, limited parks/childcare amenities, and a safety profile that trails stronger submarkets despite improving trends.