| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 26th | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1875 Dr Martin L King Jr Blvd, Bronx, NY, 10453, US |
| Region / Metro | Bronx |
| Year of Construction | 1924 |
| Units | 53 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1875 Dr Martin L King Jr Blvd Bronx Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep in this Bronx urban core location, according to WDSuite’s CRE market data. The investment angle centers on stable tenancy supported by dense amenities and a predominantly renter-occupied housing base.
The property sits in a Bronx Urban Core neighborhood with a B rating that is competitive among the 889 New York–Jersey City–White Plains metro neighborhoods. Amenity access is a clear strength, with cafes, groceries, parks, and pharmacies placing the area in the top quartile nationally, supporting daily convenience and lease retention.
Renter demand appears durable. The neighborhood’s occupancy is competitive among metro peers, and the renter-occupied share is among the highest locally, signaling a sizable tenant base and steady leasing prospects. Within a 3-mile radius, housing is predominantly renter-occupied as well, reinforcing depth of demand for multifamily units.
Construction vintage skews older across the neighborhood, while this asset’s 1984 build is newer than the local average (1952). That relative vintage can provide a competitive edge versus older stock; however, investors should still plan for targeted modernization and systems updates to meet current renter expectations and support pricing power.
Households within 3 miles have grown even as average household size has trended smaller, expanding the pool of potential renters and supporting occupancy stability. Median home values and ownership patterns indicate that many households remain oriented to renting, which can sustain tenant depth; lease management should account for affordability pressure typical of the borough to protect retention.
Safety conditions are a consideration. The neighborhood’s crime rank sits around the metro average among 889 neighborhoods, while national comparisons place the area on the lower end of the safety spectrum. Recent year-over-year trends show declines in both violent and property offenses, which is a constructive directional signal, but underwriting should still reflect elevated security and loss-prevention assumptions relative to safer national peers.
Proximity to large employers in Midtown Manhattan supports a broad workforce renter base and commute convenience, notably in IT services, media, hospitality, and apparel. The employers below are within a typical commuting shed and help underpin leasing demand.
- Cognizant — IT services (5.0 miles)
- Cognizant Technology Solutions — IT services (5.1 miles) — HQ
- Disney ABC Television Group — media (6.5 miles)
- Loews — hospitality (6.7 miles) — HQ
- Ralph Lauren — apparel (6.8 miles) — HQ
This 53-unit asset’s thesis is grounded in occupancy stability and renter demand depth. The surrounding Bronx neighborhood ranks competitively within the metro on occupancy and offers top-quartile national amenity access, both supportive of tenant retention. Built in 1984, the property is newer than much of the local housing stock, suggesting relative competitiveness versus older buildings, with actionable value-add potential through focused renovations. According to commercial real estate analysis from WDSuite, a predominantly renter-occupied area and growing household counts within 3 miles point to a larger renter pool and sustained leasing.
Counterbalancing factors include affordability pressure typical of the borough (which calls for disciplined lease management) and below-average school ratings, along with safety metrics that trail national norms despite recent improvement. Underwriting that budgets for targeted upgrades, resident services, and prudent concessions strategy can help manage these risks while capturing the market’s demand drivers.
- Competitive neighborhood occupancy and dense amenities support retention
- 1984 vintage is newer than area average, enabling focused value-add
- Predominantly renter-occupied housing and rising household counts expand tenant base
- Midtown employment access underpins steady workforce demand
- Risks: affordability pressure, school quality, and safety metrics below national norms