| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 43rd | Fair |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2957 Albrecht Ave, Akron, OH, 44312, US |
| Region / Metro | Akron |
| Year of Construction | 1991 |
| Units | 26 |
| Transaction Date | 2002-04-10 |
| Transaction Price | $1,200,000 |
| Buyer | CSEPE ZOLTAN |
| Seller | CSEPE ROBERT |
2957 Albrecht Ave Akron Multifamily Investment
Neighborhood occupancy trends are above national averages and have strengthened recently, supporting steady leasing fundamentals according to WDSuite's CRE market data. Positioning within a workforce corridor suggests durable demand through cycles.
Set within an inner-suburban pocket of Akron, the property is surrounded by practical amenities that support day-to-day living. Grocery access and casual dining compare favorably to many U.S. neighborhoods, while cafes, parks, and childcare options are limited, pointing to a value- and convenience-oriented renter profile. School ratings trail national norms, so operators may rely more on service, pricing discipline, and renewals than on school-driven demand.
Neighborhood occupancy is above national averages and trending higher, which signals resilient renter demand at the neighborhood level (not the property specifically). Area rents remain moderate relative to incomes, which can bolster retention and reduce turnover pressure. For investors, this suggests absorption at achievable price points rather than outsized rent push.
Within a 3-mile radius, recent population has been flat to slightly lower, yet household counts have edged up and are projected to rise as average household size continues to decline. This typically expands the tenant base and supports occupancy stability for well-managed assets. Rising household incomes across the same 3-mile area add depth to the renter pool, a useful context for commercial real estate analysis centered on durable cash flow.
The surrounding housing stock is older on average, while this asset s 1991 construction is comparatively newer. That relative vintage can improve competitive positioning versus legacy properties and may temper near-term capital exposure, while still leaving targeted modernization opportunities to enhance rents and renewals.
Safety indicators sit around the national midpoint, with recent year-over-year declines in both violent and property offense rates, based on WDSuite's CRE market data. The trajectory is improving rather than top-tier, which can support leasing confidence if reinforced by on-site management practices.
Within the Akron, OH metro, the neighborhood is not among the top quartile for safety, so standard measures ighting, access control, and visible management remain prudent to support resident satisfaction and retention.
A cluster of nearby anchors underpins a steady workforce renter base and convenient commutes. The immediate landscape features manufacturing, utilities, insurance, rail operations, and consumer products employers that can support leasing stability.
- Goodyear Tire & Rubber — tires & manufacturing (3.0 miles) — HQ
- FirstEnergy — utilities (5.6 miles) — HQ
- Erie Insurance Group — insurance (13.6 miles)
- Norfolk Southern Motor Yard — rail operations (20.8 miles)
- J.M. Smucker — food & consumer products (22.2 miles) — HQ
This 26-unit asset, built in 1991, is newer than much of the surrounding stock, offering a competitive edge versus older properties while still allowing focused value-add through common-area refreshes, unit upgrades, and systems modernization over time. Neighborhood occupancy trends sit above national averages and improved over the last year, which points to steady renter demand and leasing durability. According to CRE market data from WDSuite, area rents align with incomes, supporting retention and limiting affordability pressure that can disrupt collections.
Within a 3-mile radius, households are expanding even as average household size declines, effectively growing the renter pool. The broader ownership market remains relatively accessible, which can create some competition with entry-level ownership; however, the rent-to-income backdrop supports lease stability for well-managed, mid-market units. Balancing these dynamics with prudent capital planning can position the property for consistent occupancy and measured rent gains.
- Neighborhood occupancy above national averages supports leasing stability
- 1991 vintage offers competitive positioning versus older local stock with selective value-add upside
- 3-mile household growth and rising incomes deepen the renter base
- Moderate rents relative to incomes aid retention and collections
- Risk: relatively accessible ownership options may temper rent growth; focus on operations and product quality