| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 53rd | Fair |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2275 Eastwood Ave, Akron, OH, 44305, US |
| Region / Metro | Akron |
| Year of Construction | 1988 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2275 Eastwood Ave Akron 23-Unit Multifamily
Built in 1988, this asset is newer than much of the surrounding stock and benefits from neighborhood occupancy around the low-90s, according to WDSuite s CRE market data. This positioning supports an efficiency-driven rental strategy informed by disciplined commercial real estate analysis.
The property sits in an Inner Suburb of Akron with a neighborhood rating of B- (ranked 93 of 180 in the metro), indicating performance near the metro middle. The area skews practical for renters: dining access is comparatively strong (restaurant density in the upper tier locally), while everyday retail like groceries, pharmacies, and parks are thinner in the immediate vicinity. Childcare access rates well above national norms, which can aid day-to-day convenience for working households.
Multifamily dynamics are steady. Neighborhood occupancy is in the low-90% range (above the national midpoint), and median contract rents track toward the lower half of national levels, keeping rent-to-income near balanced locally. For investors, that combination suggests reasonable leasing velocity with measured pricing power rather than outsized rent growth.
Vintage matters: 1988 construction compares favorably with the neighborhood s older average year built (late 1960s). This can be a competitive edge versus aging stock, while still warranting targeted modernization of systems and common areas to sustain retention and support rent positioning.
Tenure and demographics provide additional context. The neighborhood shows a renter-occupied share in the upper metro range, signaling a meaningful tenant base for smaller-format units. Within a 3-mile radius, population has been broadly stable while household counts have edged higher and are projected to grow further by 2028, implying smaller average household sizes and a gradually expanding renter pool that supports occupancy stability. Median home values in this part of Summit County remain relatively accessible compared with national levels, which can introduce some competition from ownership; however, rental options often remain the more flexible choice for many households, aiding retention.
Safety indicators for the neighborhood trend mixed and generally sit below national averages. Relative to the Akron metro, the area is below the metro median on safety, but recent data show a year-over-year decline in violent offenses, while property offense trends have been more variable. These are neighborhood-level readings rather than property-specific conditions.
Investors typically account for this profile through practical measures: lighting, access control, and resident engagement, paired with leasing that emphasizes convenience to major employers and transit corridors. As always, evaluate trends over time and compare against peer submarkets to calibrate expectations.
The location draws from a diverse employment base that supports renter demand and commute convenience, led by Goodyear, FirstEnergy, and regional logistics and insurance operations.
- Goodyear Tire & Rubber corporate offices (2.8 miles) HQ
- FirstEnergy utilities & corporate offices (4.3 miles) HQ
- Erie Insurance Group insurance operations (16.3 miles)
- Norfolk Southern Motor Yard rail logistics (17.9 miles)
- Home Depot Distribution Center distribution & logistics (20.6 miles)
This 23-unit, 1988-vintage property offers a practical entry point to the Akron rental market. Newer construction relative to nearby 1960s-era stock supports competitive positioning, while neighborhood occupancy around the low-90s indicates stable demand at attainable rents. Compact average unit sizes can align with value-conscious renters, aiding lease-up and retention. Based on CRE market data from WDSuite, local rents and rent-to-income dynamics suggest measured pricing power rather than outsized growth, favoring an operationally focused plan with targeted upgrades.
Forward-looking demographics within a 3-mile radius point to modest population stability and a projected increase in households by 2028, expanding the renter pool and supporting occupancy stability. Key risks include thinner everyday retail and park access in the immediate area, safety metrics that lag national averages, and potential competition from relatively accessible homeownership, all of which argue for disciplined renovations, curb appeal, and service-driven retention strategies.
- 1988 vintage is newer than nearby stock, with value-add potential via targeted modernization
- Neighborhood occupancy in the low-90% range supports steady leasing and retention
- Compact units align with renter budget sensitivity, supporting demand depth
- Diverse nearby employers underpin renter demand and commute convenience
- Risks: below-average safety and limited nearby retail/parks require active management