| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 27th | Poor |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4602 4th Ave, Brooklyn, NY, 11220, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1979 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4602 4th Ave, Brooklyn Multifamily Investment
Positioned in Brooklyn’s Urban Core, this 32-unit asset benefits from steady renter demand and a high-cost ownership market, according to WDSuite’s CRE market data. Expect durable occupancy supported by a deep tenant base and proximity to major employment centers.
Location fundamentals in this Urban Core neighborhood favor multifamily operations. Neighborhood occupancy is in the upper mid-range nationally, and the share of housing units that are renter-occupied is high (67.4%), indicating a deep tenant base that can support leasing stability. Median contract rents in the neighborhood have trended upward over five years, while rent-to-income levels indicate manageable affordability pressure relative to comparable coastal submarkets, supporting retention.
Amenity access is a strength: restaurant and grocery densities rank among the strongest nationally, translating into daily convenience for residents and reinforcing renter appeal. Parks and formal childcare options are less represented in the immediate neighborhood dataset, so family-driven demand may hinge more on unit mix and access to broader borough amenities. Average school ratings track below national medians, which investors should account for when sizing the family renter segment.
Vintage matters: built in 1979, the property is materially newer than the neighborhood’s older housing stock (average vintage 1921). That positioning typically improves competitive standing versus prewar buildings while still calling for capital planning around aging systems, common areas, and potential energy-efficiency upgrades — especially for a value-add program targeting modern finishes and in-unit conveniences.
Within a 3-mile radius, demographics show a large and diversified population with modest recent population softening but growth in households and a declining average household size. Forecasts point to household expansion through 2028 alongside rising median incomes, suggesting a broader renter pool and support for occupancy stability. In a high-cost ownership market — reflected by elevated home values — multifamily remains a more accessible option, which can aid lease retention and pricing power.
Safety metrics indicate the neighborhood sits below national averages (35th percentile nationally), though within the New York–Jersey City–White Plains metro it is competitive among 889 neighborhoods (crime rank 315 out of 889). Recent trend signals are constructive: both property and violent offense rates declined year over year, which can support perception and leasing performance if improvements persist. As always, risk is block-specific; investors should validate building-level security, lighting, and access controls during due diligence.
Proximity to established corporate employers underpins workforce renter demand and commute convenience. Nearby offices include Dr Pepper Snapple Group, S&P Global, Robert Half, Guardian Life, and AIG.
- Dr Pepper Snapple Group — corporate offices (2.2 miles)
- S&P Global — financial information services (3.8 miles) — HQ
- Robert Half International — staffing & recruiting (3.8 miles)
- Guardian Life Ins. Co. of America — insurance (3.8 miles) — HQ
- Aig — insurance (4.0 miles) — HQ
4602 4th Ave offers scale at 32 units in a renter-heavy Brooklyn neighborhood where occupancy trends are steady and amenity access is strong. Built in 1979, it is newer than much of the surrounding stock, which supports competitive positioning versus older buildings while leaving room for targeted value-add to drive rents and reduce turnover. Elevated local home values sustain reliance on rental housing, and within a 3-mile radius, forecasts point to household growth and rising incomes — dynamics that typically expand the renter pool and support leasing performance.
According to CRE market data from WDSuite, the neighborhood’s median rents have moved higher over the last five years while rent-to-income levels remain manageable for a broad swath of tenants, a combination that can aid retention and revenue stability. Investors should plan for capex consistent with late-1970s construction and remain mindful of below-national safety readings and weaker school ratings when calibrating unit mix and marketing.
- Renter-heavy neighborhood and steady occupancy support depth of tenant demand
- 1979 vintage is newer than nearby stock, with value-add and systems-upgrade potential
- Strong restaurant and grocery access enhances livability and leasing appeal
- High-cost ownership market reinforces renter reliance, aiding pricing power
- Risks: below-national safety readings and low school ratings; plan for security measures and targeted marketing