| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 23rd | Poor |
| Amenities | 67th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 22 Elliot Pl, Bronx, NY, 10452, US |
| Region / Metro | Bronx |
| Year of Construction | 1926 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
22 Elliot Pl, Bronx Multifamily Investment Opportunity
Positioned in an Urban Core pocket of the Bronx with strong neighborhood occupancy and deep renter-occupied housing, this 50-unit asset offers durable demand drivers, according to WDSuite’s CRE market data. Stability at the neighborhood level and proximity to major employment centers support consistent leasing, with affordability management remaining a key lever.
The property sits in a dense Urban Core area of the Bronx where renter-occupied housing is prevalent and neighborhood occupancy has been strong; these metrics reflect the surrounding neighborhood and not the property itself. Based on CRE market data from WDSuite, neighborhood occupancy trends are elevated versus many U.S. areas and the share of housing units that are renter-occupied is exceptionally high, indicating a broad tenant base and potential leasing depth.
Daily-needs retail is a local strength. The neighborhood scores in the top quartile nationally for overall amenities, with grocery, pharmacy, and restaurant densities ranking among the highest nationwide. This concentration typically supports resident convenience, lowers friction for car‑free households, and can aid retention for workforce-oriented multifamily.
Home values in the area are elevated relative to incomes, a pattern that often reinforces reliance on rental housing rather than ownership. For investors, that backdrop can sustain demand for professionally managed apartments and support occupancy stability, while still requiring attentive lease management given rent-to-income pressures common to high-cost ownership markets.
The average building vintage in the immediate neighborhood is older, while this asset’s 1990 construction is comparatively newer for the area. That positioning can offer a competitive edge over prewar stock, with practical capital planning around systems modernization and targeted interior updates to enhance yield without full repositioning.
Within a 3-mile radius, demographics indicate a large population base with rising household counts and smaller average household sizes over time. This combination points to a gradually expanding renter pool, which can support occupancy stability and absorption for studios and smaller formats typical of urban product.
Safety conditions should be evaluated with neighborhood-level context. Compared with neighborhoods nationwide, the area sits below the national median for safety, with violent and property offense rates indicating more incidents than many U.S. neighborhoods. However, recent year trends show meaningful declines in both violent and property offenses, suggesting improvement momentum. These metrics are neighborhood-wide indicators, not property-specific.
Within the New York–Jersey City–White Plains metro (889 neighborhoods), the neighborhood’s crime standing is closer to the middle of the pack rather than the top tier. Investors typically underwrite with enhanced on-site lighting, access control, and partnership with responsive management to support tenant experience and retention.
Nearby Manhattan-centered employers provide a sizable white-collar employment base that can support renter demand and retention for Bronx workforce housing, including Cognizant Technology Solutions, Disney ABC Television Group, Loews, Ralph Lauren, and Estée Lauder.
- Cognizant — IT services (5.2 miles)
- Cognizant Technology Solutions — IT services (5.3 miles) — HQ
- Disney ABC Television Group — media & entertainment (5.6 miles)
- Loews — hospitality & holding company (5.9 miles) — HQ
- Ralph Lauren — apparel & lifestyle (5.9 miles) — HQ
22 Elliot Pl offers scale at 50 units with a 1990 vintage that is newer than much of the surrounding Bronx housing stock. Neighborhood-level indicators show high occupancy and a very large share of renter-occupied housing units, supporting demand depth and leasing durability. Elevated home values relative to incomes in the area further sustain reliance on rental housing, while the dense amenity base (groceries, pharmacies, restaurants) underpins daily convenience and potential retention. According to WDSuite’s commercial real estate analysis, these neighborhood dynamics compare favorably to many urban submarkets while still requiring disciplined affordability and renewal strategies.
Within a 3-mile radius, household counts are increasing as average household size trends lower, pointing to renter pool expansion even with modest population change. For this 1990-vintage asset, the investment case centers on operational execution and targeted value-add: systems upkeep and selective interior refreshes can bolster competitiveness versus older buildings, while underwriting should incorporate rent-to-income pressures and school quality that trails national norms.
- Neighborhood occupancy is strong and renter-occupied housing share is high, supporting leasing stability at the neighborhood level.
- 1990 construction is newer than much local stock, creating value-add potential through targeted renovations and systems modernization.
- Dense amenity access (groceries, pharmacies, restaurants) supports tenant convenience and retention.
- Elevated ownership costs in the area reinforce reliance on rentals, aiding demand depth for multifamily.
- Risks: below-median safety nationally and rent-to-income pressure require proactive management, screening, and renewal discipline.