| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 927 Courtlandt Ave, Bronx, NY, 10451, US |
| Region / Metro | Bronx |
| Year of Construction | 2011 |
| Units | 77 |
| Transaction Date | 2009-06-16 |
| Transaction Price | $1,230,000 |
| Buyer | COURTLANDT COMMUNITY HOUSING DEVELOPMENT |
| Seller | 927 COURTLAND LLC |
927 Courtlandt Ave Bronx Multifamily — 2011 Vintage, 77 Units
Neighborhood fundamentals indicate resilient renter demand and high occupancy stability at the neighborhood level, according to WDSuite’s CRE market data. Newer construction relative to local stock supports competitive positioning while the area’s renter concentration deepens the tenant base.
Located in the Bronx Urban Core, the property benefits from a neighborhood rated B and positioned above the metro median (378 of 889 neighborhoods). Amenity access is a notable strength: restaurants, groceries, parks, pharmacies, and cafés all rank in the top quartile nationally, helping sustain day-to-day convenience that supports leasing and retention.
At the neighborhood level, occupancy trends are strong and sit in the top quartile nationally, with a very high share of renter-occupied housing units. For investors, that depth of renter concentration signals a broad tenant pool and supports leasing velocity, though it also makes ongoing lease management and resident services central to retention.
The asset’s 2011 construction is newer than the neighborhood’s average vintage (1971), offering relative competitiveness versus older housing stock. Investors should still underwrite routine modernization over hold, but the newer build can reduce near-term capital exposure compared with older assets while supporting marketability.
Within a 3-mile radius, households have grown even as average household size trends lower, pointing to a larger number of smaller households and a broadening renter pool. Median contract rents have risen and are projected to continue increasing by 2028, reinforcing revenue potential; however, a high rent-to-income environment at the neighborhood level suggests monitoring affordability pressure and potential retention risk. Home values nearby are relatively low versus national norms, which can introduce some competition from ownership, but the high share of renter-occupied units and strong occupancy indicate sustained reliance on rental housing.
Education quality in the area trails national norms, which may modestly temper some family-driven demand segments. Even so, the neighborhood’s NOI per unit benchmarks rank in the top quartile nationally, and amenity density and transit access typical of the Bronx core continue to underpin renter convenience and demand, based on CRE market data from WDSuite.
Safety metrics at the neighborhood level are weaker than national averages, with crime measures placing below the metro median (475 of 889). That said, recent data indicate year-over-year improvement in violent offense trends, suggesting some directional progress. Investors should prioritize standard security measures, lighting, and property operations that promote resident confidence.
For context, national percentile readings indicate the area is less safe than many neighborhoods nationwide. Framing this within broader New York-Jersey City-White Plains dynamics, investors often balance these risks against strong renter demand and transit access typical of dense urban cores. Ongoing monitoring of trend data and collaboration with local programs can help support resident experience over time.
A deep Midtown employment base within roughly five miles supports commuter convenience for renters, with proximity to media, consumer brands, and financial services. The following anchor employers illustrate the concentration of office jobs accessible from the property: Disney ABC Television Group, Loews, Ralph Lauren, Estée Lauder, and Icahn Enterprises.
- Disney ABC Television Group — media & entertainment offices (5.0 miles)
- Loews — diversified holdings (5.1 miles) — HQ
- Ralph Lauren — apparel & lifestyle (5.2 miles) — HQ
- Est e9e Lauder — beauty & consumer products (5.2 miles) — HQ
- Icahn Enterprises — investment holding company (5.3 miles) — HQ
927 Courtlandt Ave offers a 2011-vintage, 77-unit footprint positioned in a Bronx neighborhood with top-quartile amenity density and strong neighborhood occupancy. The asset’s newer construction versus the local average vintage enhances competitiveness against older product while limiting some near-term capital needs, though investors should still plan for targeted modernization throughout the hold.
Renter-occupied housing is prevalent at both the neighborhood and 3-mile levels, supporting a deep tenant base and steady leasing. Household counts in the 3-mile radius have increased and are projected to expand further by 2028, pointing to renter pool expansion and supporting occupancy stability. According to CRE market data from WDSuite, rising neighborhood rents and strong occupancy create a favorable backdrop for cash flow management; however, elevated rent-to-income readings warrant proactive affordability and renewal strategies, and safety metrics should be monitored as part of property operations.
- Newer 2011 build relative to local stock supports leasing and reduces near-term capex versus older assets.
- Top-quartile neighborhood occupancy and high renter concentration indicate a broad tenant base and durable demand.
- Amenity-rich Bronx location with access to major Midtown employers supports retention and pricing power.
- Households within 3 miles are growing and are projected to expand by 2028, reinforcing demand for rental units.
- Risks: elevated rent-to-income ratios and below-average safety metrics call for active lease management and security planning.