| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 25th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2228 Adams Pl, Bronx, NY, 10457, US |
| Region / Metro | Bronx |
| Year of Construction | 2006 |
| Units | 21 |
| Transaction Date | 2006-01-04 |
| Transaction Price | $650,000 |
| Buyer | ADAMS COURT LLC |
| Seller | 2228 ADAMS PLACE LLC |
2228 Adams Pl Bronx Multifamily in Amenity-Rich, Renter-Dense Area
Neighborhood fundamentals point to a deep renter base and steady occupancy, according to WDSuite’s CRE market data, supporting durable demand for a 2007-built, small-unit asset. Elevated ownership costs nearby further sustain reliance on rentals without guaranteeing pricing power.
Located in the Bronx Urban Core, the neighborhood ranks competitive among New York-Jersey City-White Plains metro neighborhoods (348 of 889) and benefits from exceptional access to daily needs. Cafes, childcare centers, groceries, pharmacies, parks, and restaurants all sit in the top quartile nationally, underscoring walkable convenience that supports renter retention and lease-up velocity.
Occupancy for the neighborhood is above national medians and has been generally stable in recent years, based on CRE market data from WDSuite. The share of housing units that are renter-occupied is very high, indicating a large and dependable tenant pool for multifamily operators. Neighborhood-level NOI per unit benchmarks are in the top quartile nationally, signaling healthy income potential relative to many U.S. neighborhoods, though individual asset performance will vary.
Within a 3-mile radius, households expanded while population edged down over the past five years, pointing to smaller household sizes and a renter pool shifting toward compact layouts. That dynamic aligns with this property’s average unit size of roughly 480 square feet, which can appeal to cost-conscious singles and couples and support occupancy stability.
Home values in the area are elevated versus many U.S. neighborhoods, and the value-to-income ratio trends higher than national medians. In investor terms, a higher-cost ownership market often reinforces renter reliance on multifamily housing, though higher rent-to-income ratios warrant attentive lease management and renewals. School quality indicators trail national medians, which may temper some family-driven demand but are partly offset by strong amenity access and transit-oriented living common to the Bronx.
Vintage also matters locally: the average neighborhood building stock skews older (1960s era), so a 2007 asset is comparatively newer and can compete effectively against legacy inventory, while still planning for mid-life system updates and selective renovations to maintain positioning.
Safety indicators for this neighborhood are below national benchmarks, so investors should underwrite conservatively to account for security measures and potential marketing costs. That said, recent trends show year-over-year decreases in both violent and property offense rates, suggesting gradual improvement that can support leasing and retention if sustained.
In metro context, this area sits below the New York-Jersey City-White Plains average on safety, but the downward trajectory in estimated offense rates over the last year is a constructive sign. Operators often address this profile with lighting, access control, and community engagement, which can help support tenant satisfaction and reduce turnover.
Proximity to major Manhattan employers supports commuter demand and weekday leasing stability for workforce tenants. The nearby base spans IT services, media, hospitality, and airlines, providing diverse employment nodes within typical transit commutes.
- Cognizant — IT services (6.3 miles)
- Cognizant Technology Solutions — IT services (6.3 miles) — HQ
- Disney ABC Television Group — media (7.3 miles)
- Loews — hospitality (7.4 miles) — HQ
- Jetblue Airways — airline (7.5 miles) — HQ
2228 Adams Pl is a 21-unit, 2007-vintage asset positioned in a renter-dense Bronx neighborhood where amenity access is a clear competitive advantage. Compared with older local stock, the property’s vintage offers relative appeal while still warranting mid-life capital planning. Neighborhood occupancy trends remain steady and renter concentration is high, supporting a broad tenant base and potential resilience through cycles.
Within a 3-mile radius, households have increased even as population ticked down, implying smaller household sizes and a renter pool that favors compact layouts—well matched to the property’s smaller average unit sizes. According to commercial real estate analysis from WDSuite, the surrounding area reflects a higher-cost ownership environment, which tends to sustain apartment demand; however, elevated rent-to-income ratios and safety considerations argue for disciplined underwriting and proactive lease management.
- Renter-dense Bronx location with steady neighborhood occupancy and strong amenity access
- 2007 vintage competes well versus older local stock; plan for targeted mid-life CapEx
- Household trends within 3 miles favor smaller units, supporting demand for compact layouts
- Elevated ownership costs reinforce rental demand, but monitor rent-to-income and renewal risk
- Safety sits below national benchmarks; improvements are emerging but require active management