| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 19th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1154 Ward Ave, Bronx, NY, 10472, US |
| Region / Metro | Bronx |
| Year of Construction | 1929 |
| Units | 95 |
| Transaction Date | 2025-06-24 |
| Transaction Price | $7,500,000 |
| Buyer | ALEX APARTMENTS LLC |
| Seller | KASON ENTERPRISES LLC |
1154 Ward Ave Bronx Multifamily Investment
High renter concentration in the surrounding neighborhood supports steady leasing, with occupancy trending solidly for an Urban Core location according to WDSuite’s CRE market data. Investors should expect durable demand drivers tied to transit access and everyday amenities, rather than cyclical spikes.
Situated in the Bronx Urban Core, 1154 Ward Ave benefits from dense, convenience-driven surroundings. Neighborhood amenity access is a clear strength, with groceries, pharmacies, parks, and a broad mix of restaurants scoring in the top national percentiles; this depth typically supports renter retention and day-to-day livability. While school ratings skew weaker relative to national norms, investors targeting workforce housing can still see stable renter interest where daily needs are met nearby.
For multifamily fundamentals, the neighborhood’s occupancy has held above national midpoints, and renter-occupied housing is notably high—indicating a deep tenant base rather than ownership-led turnover. Median home values are elevated for the area, placing the neighborhood among higher-cost ownership markets nationally; this context tends to reinforce reliance on rental housing and can support pricing power when managed alongside lease renewal strategies.
Building vintage is also a factor: completed in 1988, the property is materially newer than the neighborhood’s older average building stock (1951). That relative vintage can enhance competitive positioning versus prewar assets, though investors should plan for modernization of finishes and selective system updates to meet current renter expectations.
Demographics within a 3-mile radius show households have grown even as average household size edged down, pointing to more, smaller households entering the renter pool. Forward-looking projections indicate additional household increases by 2028, which supports leasing velocity and occupancy stability. At the metro scale, income growth has been improving from a low base, but rent-to-income ratios in the neighborhood suggest affordability pressure—underscoring the importance of measured rent steps and value-add scopes aligned with demonstrated willingness to pay. Notably, neighborhood NOI per unit performance ranks 110 out of 889 within the New York–Jersey City–White Plains metro, placing it in the top quartile nationally, a positive signal for operating efficiency potential.
Safety indicators present a mixed picture. Compared with neighborhoods nationwide, crime measures place the area below national safety averages, reflecting an urban environment. However, recent trend data shows a year-over-year decline in estimated violent offenses, suggesting incremental improvement rather than deterioration.
Within the New York–Jersey City–White Plains metro, the neighborhood s crime rank sits around the middle of the pack (459 out of 889 neighborhoods), which aligns with investor expectations for dense Urban Core locations. Investors typically account for these dynamics through security features, lighting, and property management practices that support resident comfort and retention.
Regional employment is anchored by nearby corporate offices that draw a diverse workforce, supporting renter demand through commute convenience. Key employers include JetBlue Airways, Loews, Disney ABC Television Group, Ralph Lauren, and Est e9e Lauder.
- Jetblue Airways 4 airlines HQ & corporate (6.23 miles) 4 HQ
- Loews 4 diversified holdings offices (6.57 miles) 4 HQ
- Disney ABC Television Group 4 media offices (6.59 miles)
- Ralph Lauren 4 apparel corporate (6.64 miles) 4 HQ
- Estee Lauder 4 beauty & personal care corporate (6.68 miles) 4 HQ
1154 Ward Ave offers exposure to the Bronx Urban Core where renter demand is supported by dense amenities, transit-oriented living, and a very high share of renter-occupied housing units. Occupancy in the surrounding neighborhood trends moderately above national norms, and elevated ownership costs sustain reliance on multifamily housing. Based on CRE market data from WDSuite, the submarket s operating profile and top-quartile NOI per unit potential compare favorably to many urban peers, provided leasing is paired with measured rent steps.
Constructed in 1988, the asset is newer than much of the local housing stock, providing a competitive edge versus older buildings while still leaving room for targeted value-add: modernization of interiors, energy and building system upgrades, and amenity enhancements that can drive retention without overextending rent-to-income thresholds. Key risks include affordability pressure (higher rent-to-income ratios), softer school ratings, and urban safety considerations, best mitigated through resident services, security investments, and disciplined renewal strategies.
- Deep renter base and amenity-rich Urban Core location support occupancy stability.
- 1988 vintage offers competitive positioning vs. older stock with clear value-add pathways.
- Elevated ownership costs reinforce sustained rental demand and pricing power when managed carefully.
- Top-quartile NOI per unit performance potential in the metro, per WDSuite data.
- Risks: affordability pressure, weaker school scores, and urban safety mitigated by security and renewal strategies.