| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 40th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 E Firestone Blvd, Akron, OH, 44301, US |
| Region / Metro | Akron |
| Year of Construction | 1982 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
115 E Firestone Blvd, Akron OH Multifamily Investment
Occupancy in the surrounding neighborhood trends in the top third nationally, and relative affordability supports consistent renter demand, according to WDSuite’s CRE market data. The property’s 1982 vintage offers competitive positioning versus older local stock while leaving room for targeted value-add.
This Inner Suburb location in Akron offers day-to-day convenience with strong grocery access compared with both metro and national peers, while restaurant density is competitive among Akron neighborhoods. Parks, cafes, and pharmacies are thinner locally, so residents rely more on nearby commercial corridors for services and recreation.
Neighborhood occupancy is around 94% and sits in the top third nationally, which supports leasing stability for workforce-oriented product. Rents benchmark near the national midpoint but are competitive among Akron neighborhoods, indicating some pricing power without overextending tenant affordability.
Construction across the neighborhood skews older, with an average year of 1933. Against that backdrop, a 1982 asset can compete well versus legacy stock while still benefitting from modernization to meet current renter expectations and reduce near-term capital surprises.
Within a 3-mile radius, the renter-occupied share is the majority, signaling a deep tenant base for smaller-format units. Population contracted in recent years but is projected to rebound alongside an increase in households, pointing to a larger renter pool and support for occupancy. School ratings trend low relative to national peers, which may tilt demand toward value-driven housing over family-targeted product.
Home values are comparatively low for the region, and rent-to-income metrics indicate manageable affordability pressure, which can aid retention. At the same time, more accessible ownership options in parts of the metro can create competition at certain price points, so thoughtful lease management and amenity-light operating strategies remain important.
Safety indicators for the neighborhood are mixed. Relative to 180 Akron metro neighborhoods, the area ranks in the lower half for safety, placing it below the metro average and below the national median. Property offenses have trended lower year over year, while violent offenses showed an uptick, underscoring the importance of standard security measures and resident engagement.
Investors should frame these signals comparatively: recent declines in property crime are a constructive trend, but the overall safety profile remains less competitive than many Akron subareas. Monitoring trajectory and coordinating with on-site practices can help support resident satisfaction and retention.
Proximity to major employers supports a steady commuter renter base. Notable nearby anchors include Goodyear, FirstEnergy, Erie Insurance, J.M. Smucker, and Norfolk Southern, which collectively bolster weekday demand and lease retention potential.
- Goodyear Tire & Rubber — manufacturing HQ and corporate offices (2.6 miles) — HQ
- FirstEnergy — utilities corporate offices (2.8 miles) — HQ
- Erie Insurance Group — insurance offices (14.3 miles)
- J.M. Smucker — consumer packaged goods corporate offices (18.3 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (20.2 miles)
The investment case centers on demand depth, relative affordability, and a competitive vintage. Neighborhood occupancy trends near 94% with a national standing in the top third, supporting stable leasing for efficiently sized units. Rents benchmark close to the national midpoint yet remain competitive within the Akron metro, which can sustain absorption without overstretching renters. Based on CRE market data from WDSuite, the area’s renter concentration and improving household outlook point to a resilient tenant base.
Built in 1982, the asset is newer than much of the surrounding housing stock and can benefit from targeted upgrades to interiors, building systems, and curb appeal. The ownership market is relatively low-cost for the region, which introduces some competition; however, manageable rent-to-income dynamics and proximity to established employers help reinforce renter reliance on multifamily housing. Key risks include a below-median safety profile and limited nearby amenities like parks and pharmacies, warranting pragmatic on-site operations and value-focused positioning.
- Occupancy in the top third nationally supports leasing stability and retention.
- 1982 vintage competes well versus older neighborhood stock with value-add upside.
- Rents near the national midpoint and a majority renter-occupied 3-mile area indicate demand depth.
- Employer proximity (Goodyear, FirstEnergy) supports weekday demand and retention.
- Risks: below-median safety and thinner amenities (parks/pharmacies) require careful operations and pricing.