| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 25th | Poor |
| Demographics | 42nd | Fair |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2540 Shoreline Dr, Akron, OH, 44314, US |
| Region / Metro | Akron |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2540 Shoreline Dr, Akron OH Multifamily Investment
Positioned for workforce demand with value-add potential, based on WDSuite’s commercial real estate analysis of neighborhood fundamentals and renter dynamics.
The property sits in a suburban Akron neighborhood rated C, where daily needs are reasonably supported by groceries and parks. Grocery access ranks above many local peers (43rd of 180 metro neighborhoods) and is in the upper quartile nationally, while park access trends similarly strong. Restaurant density is also competitive nationally. By contrast, cafes and pharmacies are limited in the immediate area, suggesting a more utilitarian retail mix rather than lifestyle-driven amenities, according to WDSuite’s CRE market data.
Average school ratings in the neighborhood trend below the national middle, which may modestly temper family-driven demand compared with higher-rated school districts. Investors should view this as a leasing consideration rather than a disqualifier, as workforce-oriented renters often prioritize commute, price point, and unit quality over school performance.
Neighborhood housing stock skews older (average vintage 1957 across Akron peers), and this asset’s 1978 construction is newer than that baseline. That positioning can be advantageous against older comparables, though systems and finishes may still warrant targeted modernization to strengthen competitive standing and support occupancy.
Renter-occupied housing is meaningful in the broader 3-mile radius, providing depth to the tenant base. Recent neighborhood occupancy has softened over the past five years, so leasing strategy and unit differentiation matter. Home values in the neighborhood are relatively accessible versus national norms, which can increase competition from entry-level ownership; however, rent-to-income levels sit near the national middle, supporting retention and steady lease management if pricing remains disciplined.
Safety indicators for the neighborhood sit below the national median, and within the Akron metro (180 neighborhoods) the area ranks in a segment associated with comparatively higher crime levels. At the same time, WDSuite’s data shows year-over-year improvement with declines in both property and violent offense rates, a constructive trend to monitor for potential stabilization. Investors should underwrite to current conditions, emphasize lighting and access controls, and track local enforcement and community initiatives.
The location draws from a diverse employment base anchored by utilities, manufacturing, and consumer brands nearby, supporting workforce renter demand and commute convenience. Notable employers include FirstEnergy, Goodyear, Erie Insurance, The J.M. Smucker Company, and Norfolk Southern.
- FirstEnergy — utilities (4.4 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (4.8 miles) — HQ
- Erie Insurance Group — insurance (14.0 miles)
- J.M. Smucker — consumer goods (16.3 miles) — HQ
- Norfolk Southern Motor Yard — transportation (21.4 miles)
This 24-unit, 1978-vintage property offers a practical entry point to Akron’s workforce housing segment. The asset is newer than much of the surrounding housing stock, creating a pathway for targeted upgrades to kitchens, baths, common areas, and energy systems to improve competitive positioning versus older comparables. In the surrounding 3-mile radius, forecasts point to growth in population and households by 2028, implying a larger tenant base and support for occupancy over the medium term, while rent levels remain manageable relative to incomes.
According to CRE market data from WDSuite, neighborhood occupancy has eased in recent years and schools score below the national middle, so durable leasing will hinge on pragmatic renovations, professional management, and pricing discipline. Amenity access is practical (groceries, parks, and restaurants) but not lifestyle-heavy (limited cafes and pharmacies), reinforcing the focus on value and convenience. Ownership costs in this submarket are comparatively accessible, which can create competition with renting; investors should underwrite to steady, operations-driven performance rather than outsized rent growth.
- 1978 vintage is newer than neighborhood average, enabling targeted value-add to out-compete older stock
- 3-mile area forecasts growing household counts by 2028, supporting a larger renter pool and occupancy stability
- Practical amenity mix (groceries, parks, restaurants) supports daily needs; leasing success hinges on unit quality and management
- Risks: softer neighborhood occupancy and relatively accessible ownership options require disciplined pricing and focused renovations