| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 26th | Poor |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1705 Andrews Ave, Bronx, NY, 10453, US |
| Region / Metro | Bronx |
| Year of Construction | 1928 |
| Units | 66 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1705 Andrews Ave Bronx Stabilized Urban-Core Multifamily
Neighborhood occupancy is near 98%, suggesting durable renter demand and steady leasing, according to CRE market data from WDSuite. This supports an income-focused thesis in a renter-heavy Bronx submarket.
Built in 2009, the property is materially newer than much of the surrounding housing stock (neighborhood average vintage skews mid‑20th century). This positioning can enhance competitiveness versus older assets while still warranting routine system updates as the building ages.
Local livability is a differentiator: the neighborhood is competitive among New York–Jersey City–White Plains neighborhoods for amenity access, with dense coverage of groceries, cafes, parks, and pharmacies. These features support day‑to‑day convenience and reduce frictions that can impact tenant retention.
Renter concentration is high, with the share of housing units that are renter‑occupied at the top of the metro distribution. For multifamily owners, that depth of renter households typically supports a stable tenant base. Neighborhood occupancy has been strong and above the metro median, reinforcing expectations for leasing consistency rather than outsized vacancy risk.
Within a 3‑mile radius, households have increased over the past five years and are projected to grow further, while average household size trends smaller. That pattern generally points to a larger tenant base for smaller formats; the asset’s average unit size (~583 sq. ft.) aligns with demand for studios and one‑bedrooms. Median home values are elevated for many local incomes, which tends to sustain reliance on rental housing and can support pricing power when managed carefully. Average school ratings trail national norms, which may be less of a constraint for smaller-unit, workforce‑oriented demand profiles.
Safety indicators sit below national averages, with the neighborhood ranking around the metro median among 889 metro neighborhoods. Nationally, both property and violent offense measures place the area in lower safety percentiles compared with most neighborhoods. Year over year, estimated offense rates have trended downward, which is a constructive signal to monitor rather than a definitive shift.
For underwriting, frame expectations using broader submarket trends and practical measures—lighting, access control, and partnership with local patrol resources—while tracking whether recent declines in estimated incident rates persist.
Nearby employment anchors span IT services, media, hospitality, and corporate headquarters, supporting commuter convenience and renter demand from a diverse workforce. Notable employers include Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and Ralph Lauren.
- Cognizant — IT services (4.9 miles)
- Cognizant Technology Solutions — IT services (4.9 miles) — HQ
- Disney ABC Television Group — media & entertainment (6.2 miles)
- Loews — hospitality & holdings (6.5 miles) — HQ
- Ralph Lauren — apparel & retail (6.5 miles) — HQ
1705 Andrews Ave is a 66‑unit, 2009‑vintage asset positioned in an urban‑core Bronx neighborhood where renter households dominate and neighborhood occupancy trends above the metro median. According to CRE market data from WDSuite, amenity access is strong by metro standards, supporting retention, while a smaller average unit size (~583 sq. ft.) aligns with a tenant base skewed toward singles and smaller households.
Relative to the neighborhood’s older housing stock, the asset’s newer vintage should compare well on finishes and systems, though investors should plan for mid‑life capital items over the hold. Elevated rent‑to‑income ratios in the area point to affordability pressure—an operational consideration for lease management and renewal pricing—while below‑average school scores and safety percentiles warrant conservative underwriting. Net of these risks, steady neighborhood occupancy and sustained reliance on rental housing support a durable cash‑flow thesis.
- Newer 2009 construction versus older local stock supports leasing competitiveness
- High renter concentration and above‑median neighborhood occupancy support income stability
- Strong amenity access in the urban core aids retention and day‑to‑day livability
- Smaller average unit size aligns with projected growth in smaller households within 3 miles
- Risks: affordability pressure (rent‑to‑income), below‑average school scores, and safety percentiles call for prudent underwriting