| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 19th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18 W 183rd St, Bronx, NY, 10453, US |
| Region / Metro | Bronx |
| Year of Construction | 1924 |
| Units | 29 |
| Transaction Date | 1997-07-25 |
| Transaction Price | $555,000 |
| Buyer | HIGHBRIDGE REALTY LLC |
| Seller | ST JAN CORP |
29-Unit Multifamily at 18 W 183rd St, Bronx
Neighborhood occupancy is strong and renter demand is deep in this Urban Core pocket of the Bronx, according to WDSuite’s CRE market data. The combination of dense amenities and a predominantly renter-occupied housing base supports leasing stability at the neighborhood level.
Located in the Bronx’s Urban Core, the property sits within a dense amenity cluster that ranks within the top quartile among 889 metro neighborhoods and scores at the top end nationally for access to restaurants, groceries, pharmacies, and cafes. For investors, this concentration of day-to-day services helps support tenant retention and reduces frictions around daily living.
Neighborhood-level occupancy is in the top quartile among 889 metro neighborhoods, pointing to stable renter demand and limited downtime between leases. The area’s housing stock is overwhelmingly renter-occupied (share of housing units that are renter-occupied), indicating a deep tenant base for multifamily operators rather than owner-occupied turnover dynamics.
Construction year for the asset is 1999, which is newer than the neighborhood’s average vintage. That positioning typically supports competitive standing versus older walk-up stock, while still calling for disciplined capital planning around aging systems and targeted value-add or modernization to keep finishes and building services market-relevant.
Within a 3-mile radius, recent years show a slight population dip but an increase in households, implying smaller household sizes and a larger number of renting households entering the market. Forward-looking projections point to modest population stabilization and additional household growth, which can sustain a larger tenant base and support occupancy at the neighborhood level.
Home values in the surrounding neighborhood are elevated by national standards, reinforcing reliance on multifamily housing. This high-cost ownership context generally supports pricing power and lease-up velocity for well-managed rentals, though it also warrants attentive lease management where rent-to-income pressures may influence renewal decisions.
Safety indicators compare below national averages, with neighborhood measures reflecting higher-than-typical incident rates nationwide. At the metro level, overall crime rank is above the median among 889 New York–Jersey City–White Plains neighborhoods, suggesting relatively better positioning within the region than national comparisons imply.
Recent trends show year-over-year declines in both violent and property offenses, which is a constructive directional signal. For underwriting, this mix argues for standard security and operating protocols, while recognizing that improvements are emerging from a higher baseline relative to national norms.
The location provides access to a diversified Midtown and Upper Manhattan employment base that supports renter demand and commute convenience, including Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and Ralph Lauren.
- Cognizant — technology & consulting offices (5.4 miles)
- Cognizant Technology Solutions — technology & consulting (5.4 miles) — HQ
- Disney ABC Television Group — media & entertainment offices (7.1 miles)
- Loews — diversified holdings (7.3 miles) — HQ
- Ralph Lauren — apparel & retail (7.4 miles) — HQ
This 29-unit, 1999-vintage asset combines resilient renter demand with an amenity-rich Urban Core location. Neighborhood occupancy trends sit in the stronger cohort of the metro, and the surrounding housing stock is predominantly renter-occupied, indicating a deep tenant base. According to CRE market data from WDSuite, elevated ownership costs in the area reinforce reliance on multifamily rentals, which can aid lease-up and pricing power for well-positioned units.
The building’s newer-than-average vintage versus local stock supports competitive positioning against older assets, while still benefiting from targeted value-add and system updates to sustain rentability. Household growth within a 3-mile radius, alongside modest population stabilization, points to a larger pool of renters over time, supporting occupancy stability. Key underwriting watchpoints include safety metrics that trail national norms and rent-to-income pressures that call for careful renewal and concession strategies.
- Amenity-dense Urban Core location supports retention and everyday convenience
- Neighborhood occupancy trends in top metro cohort indicate stable leasing
- 1999 vintage offers competitive stance versus older stock with value-add upside
- Elevated ownership costs reinforce multifamily demand and pricing leverage
- Risks: below-national safety metrics and affordability pressure require active management