| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 80th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 482 Franklin Ave, Brooklyn, NY, 11238, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2012 |
| Units | 93 |
| Transaction Date | 2010-07-14 |
| Transaction Price | $1,500,000 |
| Buyer | 482 FRANKLIN AVE REALTY LLC |
| Seller | THE HOLY TRINITY BAPTIST CHURCH |
482 Franklin Ave, Brooklyn — Contemporary Multifamily in High-Demand Urban Core
Positioned in a renter-heavy area with deep amenity access, this 2012 asset benefits from durable demand and a high-cost ownership backdrop, according to WDSuite’s CRE market data.
The property sits in an Urban Core pocket of Brooklyn rated A+, ranking 26 out of 889 New York–Jersey City–White Plains metro neighborhoods—comfortably top quartile at the metro level. Neighborhood amenities are a clear strength: parks, groceries, cafes, and restaurants all score at or near the 100th national percentile, supporting walkability and day-to-day convenience that helps leasing velocity and retention.
For investors focused on tenant depth, the neighborhood shows a high share of renter-occupied housing (72.3%), placing it in the 98th percentile nationally. That renter concentration signals a broad tenant base for multifamily, while the neighborhood’s occupancy is solid near-term (around mid-pack versus the metro at rank 511 of 889, yet above the national median at the 65th percentile). Median asking rents in the area rank in the 93rd national percentile, reinforcing premium positioning; lease management should balance pricing power with retention.
Home values in the neighborhood are elevated and in the 99th national percentile, and the value-to-income ratio is similarly high. In investor terms, this is a high-cost ownership market that tends to reinforce reliance on rental housing and can support sustained renter demand. Average school ratings are around the national mid-to-upper range (61st percentile), which can aid family-oriented retention without being a primary draw.
Demographic trends aggregated within a 3-mile radius point to population and household growth over the past five years, with households expanding faster than population—an indicator of smaller household sizes and a larger pool of renters entering the market. Forward-looking projections in the same 3-mile view show continued renter pool expansion, which supports occupancy stability. These dynamics, combined with strong amenity density, align with investor priorities highlighted in multifamily property research from WDSuite.
Vintage is an advantage locally: with much of the surrounding housing stock averaging mid-20th century (1949), a 2012 build offers relatively newer systems and finishes, enhancing competitive positioning versus older comparables while still warranting routine capital planning for mid-life systems.
Safety indicators for the neighborhood are mixed and sit below national norms overall (crime national percentile in the lower third), though recent year-over-year readings show modest declines in both violent and property incidents. Within the New York–Jersey City–White Plains metro, the neighborhood’s crime rank is around the metro median (444 of 889), indicating conditions that are typical of dense, transit-served urban areas.
For underwriting, frame assumptions conservatively: emphasize lighting, access control, and on-site management practices that support resident comfort. Monitor trend direction rather than single-year readings, as recent declines suggest gradual improvement but do not eliminate volatility.
Nearby employment anchors within a short commute include financial and insurance headquarters alongside corporate offices, supporting a steady professional renter base and commute convenience for residents. The list below focuses on major names within roughly three miles that can contribute to leasing stability.
- AIG — insurance (3.1 miles) — HQ
- S&P Global — financial information & ratings (3.1 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.2 miles) — HQ
- Dr Pepper Snapple Group — beverages (3.3 miles)
- AmTrust Financial Services — insurance (3.3 miles) — HQ
482 Franklin Ave is a 93-unit multifamily asset delivered in 2012, offering a relative quality and systems advantage against an older neighborhood stock base. The location’s renter concentration is among the highest nationally, amenities are exceptionally dense, and neighborhood occupancy trends sit above national medians—factors that collectively support leasing durability. Elevated local home values indicate a high-cost ownership market, which tends to sustain rental demand and can underpin pricing power if paired with disciplined renewals and resident experience.
Within a 3-mile radius, recent growth in households alongside steady population increases points to a larger tenant base ahead; projections in the same radius suggest continued renter pool expansion, supporting long-term occupancy stability. According to CRE market data from WDSuite, area rents sit in the upper national percentiles, so asset strategy should balance rent growth with retention and unit-level improvements typical at this vintage as systems approach mid-life.
- Newer 2012 construction versus older neighborhood stock supports competitive positioning and reduces near-term capex compared with prewar assets.
- Renter-heavy neighborhood and dense amenities contribute to durable demand and leasing stability.
- High-cost ownership market reinforces reliance on rentals, supporting pricing power with thoughtful renewal management.
- 3-mile demographics indicate growing households and a larger tenant base, aiding occupancy over the mid-term.
- Risk: Safety metrics trail national norms and rents are in upper percentiles—underwriting should include conservative assumptions and focus on retention.