| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 25th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1809 Marmion Ave, Bronx, NY, 10460, US |
| Region / Metro | Bronx |
| Year of Construction | 1936 |
| Units | 30 |
| Transaction Date | 2022-05-18 |
| Transaction Price | $3,150,000 |
| Buyer | 1809 M LLC |
| Seller | 1809 MARMION LLC |
1809 Marmion Ave Bronx Multifamily Investment
Positioned in an amenity-dense Bronx neighborhood with a deep renter base, this 30-unit asset benefits from steady renter demand and occupancy resilience, according to WDSuite’s CRE market data.
The immediate area offers exceptional daily convenience: restaurants, groceries, pharmacies, parks, and childcare density all sit in the top tier nationally, with food and grocery access in the 99th percentile. This high-amenity environment supports leasing velocity and day-to-day livability that resonates with workforce renters.
Neighborhood occupancy trends are solid, with the area above the national median for occupied units and renter concentration among the highest nationally. The share of housing units that are renter-occupied is elevated, indicating a large tenant base and potential depth for renewals and new leasing. Median home values are high for the borough context (nationally upper-tier), which tends to sustain reliance on multifamily housing and reinforces rental demand rather than ownership transitions.
Within a 3-mile radius, demographics show households have grown in recent years and are projected to expand further, even as average household size trends lower. This combination can enlarge the renter pool and support occupancy stability, particularly for efficiently sized units. Median incomes have been rising, which can aid collections and modest pricing power, though operators should still manage for affordability pressure in select cohorts.
The asset’s 1995 vintage is newer than much of the local housing stock, which skews to mid-century (average construction year ~1966 across the neighborhood). Relative to older comparables, this positioning can reduce near-term structural obsolescence risk and improve competitive standing; investors should still budget for system updates and modernization to capture value and sustain leasing appeal.
School ratings in the area trend below national benchmarks, which can matter for family renters; operators may emphasize amenity access and commute convenience in marketing to balance this consideration.
Safety indicators for the neighborhood trail national benchmarks, with violent and property offense rates positioned in lower national percentiles. Recent trends, however, point to year-over-year declines in both categories, which is constructive from a risk perspective. Comparatively, this area sits below the U.S. average for safety, so underwriting should incorporate prudent security measures and tenant relations while recognizing the improving trajectory.
Proximity to major corporate employers within roughly 6–7 miles supports a broad commuter tenant base and leasing stability. The nearby mix spans technology services, media, airlines, diversified holdings, and apparel—key sectors reflected below.
- Cognizant Technology Solutions — technology services (6.6 miles) — HQ
- Disney ABC Television Group — media (6.6 miles)
- Jetblue Airways — airline (6.7 miles) — HQ
- Loews — diversified holdings (6.8 miles) — HQ
- Ralph Lauren — apparel (6.8 miles) — HQ
1809 Marmion Ave offers exposure to an Urban Core Bronx neighborhood with top-tier amenity density, a large renter-occupied base, and occupancy levels that sit above the national median. Based on commercial real estate analysis from WDSuite, household growth within a 3-mile radius and projected gains ahead point to an expanding renter pool, while elevated home values locally tend to sustain reliance on multifamily housing rather than ownership.
Constructed in 1995, the property is newer than much of the surrounding housing stock, which can enhance competitive positioning versus older buildings. Investors should plan for targeted capital to modernize systems and interiors as needed, manage affordability pressure in rent-to-income ratios, and address safety perceptions through operations and community engagement.
- Amenity-rich Urban Core location with strong daily convenience that supports leasing
- Deep renter-occupied housing base and occupancy above the national median
- 1995 vintage offers relative competitiveness versus older local stock with value-add potential via modernization
- Household growth within 3 miles and rising incomes support demand and collections
- Risks: affordability pressure and below-average safety metrics require proactive leasing and operating strategies