| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 35th | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 888 Rosamond Ave, Akron, OH, 44307, US |
| Region / Metro | Akron |
| Year of Construction | 1977 |
| Units | 26 |
| Transaction Date | 2010-12-15 |
| Transaction Price | $327,000 |
| Buyer | ROSAMOND APARTMENTS LLC |
| Seller | ZOLTAI B G |
888 Rosamond Ave Akron Multifamily Investment
Neighborhood occupancy has improved over the past five years and renter concentration is high, according to WDSuite’s CRE market data, supporting durable demand for this Akron address.
Situated in Akron’s inner-suburban fabric, the area offers everyday conveniences with a grocery presence competitive among Akron neighborhoods (ranked 57 of 180), while cafes, parks, and pharmacies are comparatively limited. Childcare access ranks in the top quartile among 180 metro neighborhoods, which can support working households and weekday demand patterns.
The building’s 1977 vintage is newer than the neighborhood’s average construction year (1963), indicating relative competitiveness versus older stock; investors should still plan for systems modernization or targeted upgrades to sustain leasing momentum.
At the neighborhood level, the share of housing units that are renter-occupied is 56.8%, pointing to a deep tenant base for multifamily demand. Neighborhood occupancy has trended higher over the last five years, which can support pricing discipline and lease retention in a stable operating plan.
Within a 3-mile radius, recent data show modest contraction, but forward-looking projections call for increases in population and households by 2028, expanding the potential renter pool and supporting occupancy stability. Median contract rents within this radius are also projected to rise alongside incomes, reinforcing revenue management opportunities, based on WDSuite’s multifamily property research.
Home values in the immediate neighborhood are lower than many U.S. areas, which can introduce competition from entry-level ownership. Rent-to-income ratios at the neighborhood level suggest affordability pressure, so operators may prioritize renewal strategies and amenity-value alignment to balance retention and rent growth.
Relative to Akron’s 180 neighborhoods, the area’s crime rank sits in the lower half, indicating a higher incidence environment versus metro peers. Nationally, the neighborhood falls in lower safety percentiles, signaling elevated exposure to both property and violent offenses compared with many U.S. neighborhoods.
Trend-wise, estimated property offenses declined year over year, while violent offenses ticked up. For investors, this supports a focus on security-minded operations, lighting and access controls, and resident engagement to mitigate perception risks and support retention.
Nearby anchor employers provide a diversified employment base and short commutes that can support renter demand, including utilities, manufacturing, insurance, consumer products, and transportation.
- FirstEnergy — utilities (2.7 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (4.3 miles) — HQ
- Erie Insurance Group — insurance (16.1 miles)
- J.M. Smucker — consumer products (18.0 miles) — HQ
- Norfolk Southern Motor Yard — transportation (19.2 miles)
The investment case centers on a renter-heavy neighborhood, improving neighborhood occupancy, and proximity to established employers. The 1977 vintage is newer than the local average, offering competitive positioning against older stock, with targeted modernization likely to enhance leasing and retention. According to WDSuite’s commercial real estate analysis, neighborhood-level occupancy and a majority share of renter-occupied units support demand depth, though affordability pressure suggests disciplined renewal management.
Forward-looking 3-mile projections indicate growth in population and households by 2028 alongside rising median contract rents and incomes, pointing to a larger tenant base and potential pricing power under prudent operations. Operators should balance this upside with on-the-ground considerations such as amenity gaps and a safety profile that warrants security-forward property management.
- Renter concentration and improving neighborhood occupancy support demand depth
- 1977 vintage is newer than neighborhood average, with modernization upside
- Proximity to major employers underpins leasing stability
- Forecast growth in 3-mile population and households supports a larger tenant base
- Risks: affordability pressure, perceived safety, and limited amenity mix