| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1085 Washington Ave, Bronx, NY, 10456, US |
| Region / Metro | Bronx |
| Year of Construction | 2007 |
| Units | 91 |
| Transaction Date | 2006-05-16 |
| Transaction Price | $3,532,500 |
| Buyer | 1085 WASHINGTON PARTNERSHIP L P |
| Seller | 450 E 166TH REALTY CORP |
1085 Washington Ave Bronx Multifamily Investment
High renter concentration and historically strong neighborhood occupancy point to durable tenant demand, according to CRE market data from WDSuite. For investors, this supports income stability in an Urban Core location with deep local services and transit access.
Situated in the Bronx Urban Core, the neighborhood posts a B rating and ranks 378 out of 889 metro neighborhoods, indicating balanced fundamentals with standout service density. Neighborhood occupancy is in the top quartile among 889 metro neighborhoods and near the top decile nationally, a signal of steady renter demand and leasing resilience for multifamily assets.
Local amenity access is a differentiator: groceries, restaurants, pharmacies, parks, cafes, and childcare all register in very high national percentiles, reinforcing day-to-day convenience that helps retention. While average school ratings trend below national norms, investors typically weigh this against the area’s urban connectivity and employment access when underwriting.
Renter-occupied housing is the dominant tenure locally, reflecting a deep renter base that supports absorption and renewal prospects. Within a 3-mile radius, recent data show modest population movement alongside growth in households, with forecasts indicating additional household expansion and smaller average household sizes. For operators, that points to ongoing renter pool expansion and demand for smaller, efficient units.
Home values in the immediate area are comparatively low versus many U.S. neighborhoods, which can introduce some competition from ownership options. Even so, elevated local occupancy and strong amenity access have supported NOI performance among competitive Urban Core locations in the metro, based on WDSuite’s CRE market data.
Safety indicators sit around the metro middle but trend weaker by national comparison. Neighborhood crime ranks 475 out of 889 metro neighborhoods, and national positioning suggests higher-than-average offense rates relative to many U.S. areas.
Recent momentum is mixed: violent offenses show year-over-year improvement, while property offenses have risen over the same period. Investors generally account for these dynamics through security measures, tenant screening, and insurance assumptions rather than assuming rapid normalization.
Proximity to Midtown corporate nodes supports a broad commuter tenant base, with nearby media, hospitality, fashion, cosmetics, and diversified holdings employers that can sustain leasing and retention for workforce and market-rate units.
- Disney ABC Television Group — media (5.3 miles)
- Loews — hospitality (5.5 miles) — HQ
- Ralph Lauren — fashion (5.5 miles) — HQ
- Estee Lauder — cosmetics (5.5 miles) — HQ
- Icahn Enterprises — diversified holdings (5.6 miles) — HQ
Built in 2012, the 91-unit property is newer than much of the area’s housing stock, offering competitive positioning versus older vintage assets while still warranting routine system updates as it matures. Neighborhood indicators show sustained renter demand: occupancy remains high and the renter-occupied share is substantial, supporting lease-up and renewal prospects, according to CRE market data from WDSuite.
Within a 3-mile radius, forecasts point to household growth alongside smaller average household sizes, which can expand the renter pool and favor efficient floor plans like the property’s average unit size profile. Amenity-rich surroundings and access to major employment centers underpin day-to-day livability, though underwriting should reflect rent-to-income pressures, school quality considerations, and localized safety dynamics.
- 2012 vintage offers competitive positioning versus older local stock, with manageable modernization planning.
- High neighborhood occupancy and deep renter-occupied base support income stability and renewal potential.
- 3-mile forecasts indicate household growth and smaller household sizes, reinforcing demand for efficient units.
- Strong amenity density and proximity to major employers aid leasing and retention across cycles.
- Risks: rent-to-income pressure, below-average school ratings, and safety considerations require prudent underwriting.