| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 25th | Poor |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 674 E 136th St, Bronx, NY, 10454, US |
| Region / Metro | Bronx |
| Year of Construction | 1926 |
| Units | 49 |
| Transaction Date | 2005-12-14 |
| Transaction Price | $78,000 |
| Buyer | ACORN 2005 HOUSING DEVELOPMENT FUND CORP |
| Seller | NEIGHBORHOOD RESTORE HOUSING DEVELOPMENT |
674 E 136th St Bronx Multifamily Investment Opportunity
Built in 2006 with 49 units, this Urban Core Bronx asset benefits from strong neighborhood occupancy and a deep renter base, according to WDSuite’s CRE market data. The location’s amenity density and high-cost ownership market support durable renter demand, with pricing power balanced by careful affordability and lease management.
This Urban Core pocket of the Bronx rates above the metro median (ranked 361 of 889 New York–Jersey City–White Plains neighborhoods) and shows investor-friendly fundamentals: neighborhood occupancy is in the top quartile nationally, and average NOI per unit trends above national norms. The submarket features dense amenities—groceries, pharmacies, parks, and dining concentrate at high national percentiles—supporting everyday convenience and leasing stickiness based on commercial real estate analysis from WDSuite.
With a neighborhood average construction year of 1972, a 2006-vintage property is newer than much of the local stock, which can enhance competitive positioning versus older assets. Investors should still plan for routine modernization as systems age, but the vintage profile generally reduces near-term heavy capital exposure compared with pre-1980 comparables.
Tenure patterns indicate depth in the renter pool: the neighborhood has a high share of renter-occupied housing units, supporting multifamily demand and helping stabilize occupancy through cycles. Within a 3-mile radius, demographics show households have grown while average household size has edged lower—trends that expand the tenant base. Forward-looking data points to additional population and household growth by 2028, reinforcing demand for apartments rather than larger ownership formats.
Ownership costs benchmark high for the area relative to incomes, which tends to sustain reliance on rental housing and can support pricing power. At the same time, rent-to-income levels imply potential affordability pressure; proactive lease management and product/finish calibration can help retention and limit turnover. School ratings in the area are below national averages, which is more impactful for family-oriented product than for smaller-unit mixes, and should be reflected in unit-mix and marketing strategies.
Safety indicators in this neighborhood trail national averages. The area ranks 469 out of 889 metro neighborhoods for crime, placing it below the metro average, and national percentiles indicate comparatively elevated offense rates. However, recent trend data shows an improvement in violent incidents year over year, which is a constructive sign to monitor over subsequent periods.
Investors should frame safety in relative, submarket-level terms: performance is weaker than many peer neighborhoods nationally, but the recent decline in violent offense rates suggests momentum that, if sustained, can support leasing and renewal efforts. Property-level operations (lighting, access control, and partnerships with local stakeholders) remain important levers alongside market trends.
Proximity to Midtown and neighboring employment clusters supports renter demand via short commutes to major corporate offices across airlines, media, apparel, and consumer goods. Notable employers within 4–4.3 miles underscore a diversified white-collar base that can aid leasing stability.
- JetBlue Airways — airline HQ (3.9 miles) — HQ
- Loews — diversified holding (4.0 miles) — HQ
- Disney ABC Television Group — media (4.0 miles)
- Ralph Lauren — apparel (4.1 miles) — HQ
- Estée Lauder — cosmetics (4.1 miles) — HQ
674 E 136th St combines stable neighborhood occupancy and a high renter concentration with access to dense urban amenities. Based on CRE market data from WDSuite, the neighborhood’s occupancy performance sits in the top quartile nationally and NOI per unit trends above national norms, supporting a case for income durability. Elevated ownership costs in the area reinforce reliance on multifamily, while amenity depth (groceries, pharmacies, parks, restaurants) supports day-to-day livability and lease retention.
Constructed in 2006, the asset is newer than the area’s average vintage, offering a relative edge versus older Bronx stock and potential to capture demand with modest modernization versus heavy repositioning. Within a 3-mile radius, households have increased and are projected to grow further alongside smaller household sizes—signals of a broadening renter base that can support occupancy and leasing velocity. Key watch items include rent-to-income affordability pressure, below-average school ratings, and safety that trails national benchmarks, all of which call for calibrated rents, targeted marketing, and attentive operations.
- Top-quartile neighborhood occupancy and solid NOI trends support income stability
- 2006 vintage competes well versus older local stock; modernization can be selective
- Dense amenity environment and proximity to major employers bolster leasing
- Expanding 3-mile household base with smaller sizes points to a growing renter pool
- Risks: affordability pressure (rent-to-income), below-average schools, and safety below national norms