| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 78th | Best |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 750 Mull Ave, Akron, OH, 44313, US |
| Region / Metro | Akron |
| Year of Construction | 1973 |
| Units | 107 |
| Transaction Date | 2012-05-01 |
| Transaction Price | $5,375,000 |
| Buyer | FAIRWAY TOWER & MANOR LLC |
| Seller | ACKY AKRON LIMITED PARTNERSHIP |
750 Mull Ave Akron Multifamily Investment Opportunity
Neighborhood occupancy is high and steady, supporting cash flow durability for well-managed assets, according to WDSuite s CRE market data. Rents remain accessible by metro standards, suggesting a broad renter pool and potential for retention-focused strategies.
Situated in Akron s Summit County, the property benefits from neighborhood fundamentals that support multifamily demand. The neighborhood s occupancy rate is strong and sits in the top quartile among 180 Akron metro neighborhoods, with an 87th percentile standing nationally a constructive backdrop for stabilized operations and lease renewal strategies. Median contract rents trend in the mid-$800s, which helps sustain demand depth and can aid retention without overextending affordability.
Local livability indicators are mixed but generally serviceable for residents. Restaurant access is moderate, pharmacy and childcare availability rank above many U.S. neighborhoods, while parks and cafes are limited in immediate proximity. Average school ratings are strong (top decile among 180 metro neighborhoods and well above most U.S. neighborhoods), which can support family-oriented renter demand and longer tenures.
Renter concentration at the neighborhood level is roughly one-third of housing units (renter-occupied), indicating a meaningful but not dominant renter base a profile that tends to support leasing stability for conventional multifamily. Home values are comparatively accessible in this part of Akron, which can introduce some competition from ownership options; however, the value-to-income relationship suggests that multifamily remains a practical housing choice for many households, reinforcing baseline demand.
Demographic trends within a 3-mile radius indicate a modest population contraction in recent years alongside a slight increase in total households and smaller average household sizes dynamics that typically favor rental demand by adding one- and two-person households to the tenant base. Looking ahead, forecasts point to population and household growth through the next five years, which should expand the renter pool and support occupancy stability for well-located assets.
Safety indicators are mixed. The neighborhood s crime rank sits at 28th out of 180 Akron metro neighborhoods, which indicates higher crime relative to much of the metro. Nationally, overall conditions land around the upper-mid range for safety, and recent estimates show a sharp year-over-year decline in violent offenses, while property-related incidents remain closer to national mid-tier levels.
For investors, this suggests attention to security features, lighting, and property management protocols may be prudent, while the improving violent offense trend offers a constructive directional signal. Always evaluate block-level conditions and recent comps to confirm operating assumptions.
Proximity to major employers anchors renter demand with convenient commutes. Notable employment nodes include FirstEnergy, Goodyear, Norfolk Southern, J.M. Smucker, and Sherwin-Williams a mix of utilities, manufacturing, logistics, and corporate headquarters that can support leasing stability.
- FirstEnergy utilities (3.2 miles) HQ
- Goodyear Tire & Rubber manufacturing (5.8 miles) HQ
- Norfolk Southern Motor Yard logistics/rail (16.6 miles)
- J.M. Smucker consumer goods (19.8 miles) HQ
- Sherwin-Williams coatings & paints (28.1 miles) HQ
This 107-unit Akron asset benefits from a neighborhood with strong occupancy and broadly accessible rents that support retention. According to CRE market data from WDSuite, the area ranks among the stronger Akron neighborhoods for occupancy and sits well above national norms, a backdrop conducive to stable operations. Within a 3-mile radius, household counts have edged higher while average household size has trended down, expanding the renter pool and supporting steady leasing for smaller formats.
Livability is practical for workforce renters with strong school ratings and essential services nearby, though limited parks and cafe density mean lifestyle-driven premiums may be harder to capture. Ownership costs in this submarket are comparatively accessible, introducing some competition with entry-level ownership; effective leasing and amenity execution will be key to maintaining pricing power and renewal rates.
- Strong neighborhood occupancy and above-national standing support stability
- Accessible rent levels widen the tenant base and aid retention
- 3-mile trends show more households and smaller sizes, expanding renter demand
- Proximity to major employers underpins steady leasing potential
- Risks: limited recreational amenities and potential competition from entry-level ownership