| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 25th | Poor |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 452 E 148th St, Bronx, NY, 10455, US |
| Region / Metro | Bronx |
| Year of Construction | 1888 |
| Units | 34 |
| Transaction Date | 2019-05-31 |
| Transaction Price | $5,000,000 |
| Buyer | 452 REALTY LLC |
| Seller | L & M HUB ASSOCIATES LLC |
452 E 148th St, Bronx — Multifamily Investment Context
Neighborhood fundamentals point to strong renter demand and high occupancy stability in the South Bronx, according to WDSuite’s CRE market data, with investor attention warranted on affordability management and tenant retention strategies.
Situated in the Urban Core of the Bronx, 452 E 148th St benefits from dense, service-rich surroundings. Neighborhood amenity access is a relative strength: grocery and pharmacy availability rank in the highest national percentiles, with restaurants and cafes also performing well. This supports daily convenience and lease retention, especially for workforce renters.
On operating performance, the neighborhood 2s occupancy is rated strong relative to peers (above the metro median, rank 171 of 889) and sits in the 86th percentile nationally. Average NOI per unit for the neighborhood is competitive (78th percentile nationally), reinforcing a backdrop where stabilized operations are common for well-managed assets.
Tenure patterns signal depth in the renter base: the neighborhood 2s share of renter-occupied housing units is very high (top national percentile). For multifamily investors, this usually translates into a broad tenant pool and consistent leasing velocity. The property 2s 2002 construction is newer than the neighborhood 2s average vintage of 1972, which can support competitive positioning versus older stock; investors should still budget for mid-life systems and modernization.
Within a 3-mile radius, demographics show a relatively stable population with a notable increase in households and a forecast for continued household growth by 2028. Smaller average household sizes are projected, which typically expands the renter pool and supports occupancy. Elevated home values in the neighborhood (90th percentile nationally) indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power. At the same time, the neighborhood 2s rent-to-income ratio is elevated, highlighting affordability pressure that warrants careful lease management and renewal strategies.
Schools in the area benchmark below national averages (24th percentile), which can shape unit mix and marketing toward renter segments less sensitive to school ratings. Overall, the neighborhood 2s B rating, above-median occupancy, and high renter concentration provide an investable foundation, while affordability and education outcomes remain watch items for underwriting and operations.
Safety conditions in the neighborhood compare below national averages overall (24th percentile nationally), and the area sits near the middle of the pack within the New York–Jersey City–White Plains metro (crime rank 469 of 889 neighborhoods). Recent trends are mixed but show some improvement: estimated violent offense rates have declined year over year, placing this improvement above many U.S. neighborhoods by percentile comparisons. Investors typically underwrite with enhanced security measures and resident engagement in similar Urban Core locations, using careful operating practices rather than assuming block-level outcomes.
Proximity to Midtown and Manhattan corporate nodes supports renter demand from commuters. Notable nearby employers include Disney ABC Television Group, Loews, Ralph Lauren, JetBlue Airways, and Est e9e Lauder, offering diversified white-collar employment within a 5-mile commute band.
- Disney ABC Television Group — media (4.39 miles)
- Loews — hospitality (4.46 miles) — HQ
- Ralph Lauren — apparel (4.53 miles) — HQ
- Jetblue Airways — airlines (4.55 miles) — HQ
- Estee Lauder — beauty & cosmetics (4.56 miles) — HQ
452 E 148th St is a 34-unit multifamily property built in 2002, positioned in a Bronx neighborhood with above-median occupancy (rank 171 of 889) and high renter concentration. The asset 2s newer vintage relative to local stock (neighborhood average 1972) can offer a competitive edge versus older buildings, while mid-life systems may require targeted capital for modernization. Elevated home values and dense amenities support sustained renter demand and lease retention, while affordability pressure (high rent-to-income ratios at the neighborhood level) calls for disciplined pricing and renewal strategies. Based on commercial real estate analysis from WDSuite, the area 2s NOI per unit and occupancy percentiles compare favorably to national benchmarks, underscoring operating resilience.
Within a 3-mile radius, household counts have been rising and are projected to continue growing through 2028, with smaller household sizes implying a larger renter pool over time. This, combined with strong access to services and commutable employment centers, supports steady demand for well-managed apartments. Underwriting should incorporate safety variability and school performance as ongoing operating considerations rather than structural deterrents.
- Above-median neighborhood occupancy and competitive NOI per unit support stable operations
- 2002 vintage offers relative competitiveness versus older local stock, with selective modernization upside
- High-cost ownership market reinforces renter reliance, aiding pricing power and retention
- Expanding household base within 3 miles indicates a growing renter pool and supports occupancy
- Risks: neighborhood affordability pressure, below-average school ratings, and safety variability warrant conservative underwriting