| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 19th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2294 University Ave, Bronx, NY, 10468, US |
| Region / Metro | Bronx |
| Year of Construction | 1923 |
| Units | 27 |
| Transaction Date | 2004-12-02 |
| Transaction Price | $2,050,000 |
| Buyer | 2294-2300 LLC |
| Seller | RAGOO OUDHORAM |
2294 University Ave Bronx Multifamily With Stable Renter Demand
Neighborhood occupancy is strong and above many metro peers, according to WDSuite’s CRE market data, supporting steady cash flow potential for a smaller asset. The area’s high renter concentration and dense amenities further underpin day-to-day leasing stability.
Located in the Bronx Urban Core, the neighborhood surrounding 2294 University Ave shows durable renter demand and amenity depth. Occupancy trends sit in the top quartile nationally and are competitive among the 889 New York–Jersey City–White Plains neighborhoods, reinforcing baseline stability for multifamily operations.
Amenity access is a clear strength: grocery, restaurant, pharmacy, and park density rank at or near the top among metro peers and score in the highest national percentiles. This level of convenience typically supports leasing, retention, and resident satisfaction, particularly for smaller-format units that rely on walkable services and transit connectivity.
The property’s 1988 vintage is newer than the neighborhood’s older housing stock (average vintage 1952). That positioning can offer a competitive edge versus prewar assets, while still warranting selective system upgrades or modernization to meet today’s renter expectations—an avenue for targeted value-add.
Renter-occupied housing represents a very large share of neighborhood units, indicating a deep tenant base and consistent multifamily demand. Within a 3-mile radius, households have grown in recent years even as population edged down, implying smaller household sizes and a gradual shift that can expand the renter pool and support occupancy. Looking ahead, 3-mile forecasts point to continued gains in households alongside smaller average household sizes, a backdrop that typically supports absorption of efficiency and one-bed formats.
Ownership costs in this pocket of the Bronx are elevated compared with incomes, and home values rank near the top nationally. That high-cost ownership market tends to sustain reliance on rental housing and can support pricing power; however, rent-to-income levels suggest potential affordability pressure, making thoughtful lease management and unit-mix strategy important for retention.
Safety indicators in the surrounding neighborhood track below national medians, with crime metrics that trail many U.S. areas. Within the New York–Jersey City–White Plains metro’s 889 neighborhoods, this location is not among the top-performing cohorts on safety. That said, recent WDSuite data show year-over-year declines in both property and violent offense rates, suggesting a constructive directional trend investors should monitor over time.
For underwriting, it’s prudent to reflect the neighborhood’s comparatively higher crime exposure in security, lighting, access control, and operating reserves, while acknowledging the improving trajectory noted in recent data.
Proximity to major Manhattan employment nodes supports workforce housing demand and commute convenience. Key nearby employers include Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and Ralph Lauren.
- Cognizant — technology services (5.29 miles)
- Cognizant Technology Solutions — technology services (5.32 miles) — HQ
- Disney ABC Television Group — media (7.16 miles)
- Loews — diversified holdings (7.43 miles) — HQ
- Ralph Lauren — apparel & lifestyle (7.49 miles) — HQ
2294 University Ave is a 27-unit Bronx asset positioned in a high-renter urban submarket with strong neighborhood occupancy and exceptional amenity access. Based on CRE market data from WDSuite, the surrounding area ranks competitively within the metro on occupancy, while the ownership market remains high-cost—factors that generally support renter reliance and day-to-day leasing stability. The 1988 construction is newer than much of the nearby housing stock, offering relative competitiveness versus older assets and potential to capture additional value with targeted upgrades.
Within a 3-mile radius, households have increased and are projected to continue rising as average household size trends lower—conditions that can expand the renter pool for smaller-format units. At the same time, rent-to-income levels and local safety perceptions warrant conservative rent growth assumptions and active asset management to protect retention and operating performance.
- High renter concentration and competitive neighborhood occupancy support baseline stability
- 1988 vintage offers an edge versus older stock with targeted value-add potential
- Dense neighborhood amenities bolster leasing velocity and resident retention
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: elevated rent-to-income and below-median safety call for prudent underwriting