| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 E 163rd St, Bronx, NY, 10456, US |
| Region / Metro | Bronx |
| Year of Construction | 2012 |
| Units | 26 |
| Transaction Date | 2006-12-15 |
| Transaction Price | $525,000 |
| Buyer | CYPRESS VILLA LLC |
| Seller | MILLENNIUM CARE INC |
601 E 163rd St Bronx Multifamily with Dense Renter Base
Neighborhood occupancy remains tight and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations for a 26-unit asset. Metrics referenced here reflect neighborhood conditions, not property performance.
Situated in the Bronx Urban Core, the property benefits from a dense services ecosystem and strong day-to-day convenience. Amenity access ranks competitive among 889 metro neighborhoods and sits in the top quartile nationally, with abundant groceries, pharmacies, parks, cafes and restaurants nearby. This depth of amenities underpins leasing velocity and resident retention for workforce-oriented multifamily.
Neighborhood occupancy is above metro median and in the top quartile nationally, indicating limited turnover risk at the neighborhood level. Importantly, the share of housing units that are renter-occupied is exceptionally high, signaling a broad tenant base and steady demand for smaller-format units similar to the property’s average unit size.
2012 construction is newer than the neighborhood’s older housing stock, which can enhance competitive positioning versus pre-1980 assets. For investors, this typically translates to reduced near-term capital expenditures while still allowing for selective modernization to drive rent and retention.
Within a 3-mile radius, households have increased in recent years and are projected to expand further as average household size trends lower. This points to a larger tenant pool over the next cycle, supporting occupancy stability. While neighborhood school ratings are below national norms, the area’s high amenity access and transit-rich urban fabric continue to support renter appeal for working households.
Ownership costs in the immediate area are relatively accessible compared with many coastal submarkets, which can introduce some competitive pressure from ownership options. Even so, the neighborhood’s very high renter concentration suggests sustained reliance on multifamily housing, a constructive backdrop for stabilized operations and lease renewals.
Safety outcomes in this neighborhood track below national norms, and rank around the middle of the pack among 889 metro neighborhoods. National percentiles indicate the area is less safe than many neighborhoods nationwide; however, recent data shows improvement in violent-offense trends year over year, which is a positive directional signal to monitor over the hold period.
Investors should underwrite prudent security measures and consider how neighborhood safety perceptions may influence leasing and renewal strategies. Trend monitoring is important: continued year-over-year improvement would support marketing and retention, while any reversal could warrant adjustments to staffing, lighting, or access controls.
Proximity to Midtown corporate offices expands the commuter renter base and supports weekday leasing stability. Notable nearby employers include Disney ABC Television Group, JetBlue Airways, Loews, Ralph Lauren, and Estée Lauder.
- Disney ABC Television Group — media & entertainment corporate offices (5.2 miles)
- JetBlue Airways — airlines corporate offices (5.3 miles) — HQ
- Loews — diversified holdings corporate offices (5.3 miles) — HQ
- Ralph Lauren — fashion & apparel corporate offices (5.3 miles) — HQ
- Estée Lauder — beauty & cosmetics corporate offices (5.4 miles) — HQ
601 E 163rd St offers a newer 2012-vintage profile in a neighborhood where occupancy is high and the renter-occupied share is substantial. Based on CRE market data from WDSuite, the surrounding neighborhood shows top-quartile amenity access and strong occupancy relative to metro peers, supporting leasing durability for smaller-format units. Newer construction versus the area’s older average vintage positions the asset competitively while keeping near-term capital planning manageable.
Within a 3-mile radius, households have grown and are projected to rise further as average household size declines, implying a broader tenant base and support for occupancy stability. Counterbalancing factors include below-average school ratings, safety metrics that trail national norms (albeit with improving violent-offense trends), and elevated rent-to-income pressures that warrant attentive lease management and renewal strategies.
- Newer 2012 vintage offers competitive positioning versus older neighborhood stock
- High neighborhood occupancy and deep renter base support stable collections
- Dense amenity access nearby underpins leasing velocity and retention
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: below-average school ratings, softer safety metrics, and rent-to-income pressure necessitate active management