| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 74th | Best |
| Amenities | 70th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Washington Ave, Suffern, NY, 10901, US |
| Region / Metro | Suffern |
| Year of Construction | 1975 |
| Units | 68 |
| Transaction Date | 2009-02-13 |
| Transaction Price | $625,000 |
| Buyer | WASHINGTON MEWS LLC |
| Seller | TJG REALTY OF ROCKLAND LLC |
15 Washington Ave Suffern NY Multifamily Investment
Older 1975 vintage in an inner-suburban A- rated neighborhood positions this 68-unit asset for value-add while tapping steady renter demand, according to WDSuite’s CRE market data. Expect demand supported by strong local incomes and services, with execution around renovations and leasing driving outcomes.
Situated in Suffern’s inner-suburban fabric of the New York–Jersey City–White Plains metro, the neighborhood holds an A- rating and ranks 208 out of 889 metro neighborhoods—top quartile by WDSuite’s framework. That relative standing reflects a balanced mix of livability and demand drivers that can support leasing stability and rent collections.
Amenities are a local strength: restaurants trend in the 92nd percentile nationally, with groceries, pharmacies, and childcare also tracking above national medians. While immediate park access is limited, daily-needs retail and services are convenient, which can aid retention and curb turnover costs for multifamily operators.
Renter concentration is meaningful at the neighborhood level, with roughly half of housing units renter-occupied, indicating a deep tenant base for workforce and market-rate product. Neighborhood occupancy trends sit near the national mid-range; targeted upgrades and professional management can be important levers to sustain occupancy and pricing power relative to comparable suburban assets.
Within a 3-mile radius, population and households have expanded in recent years and are projected to continue growing, suggesting a larger tenant base ahead rather than a contraction. Household incomes are high for the region, and elevated home values in the area reinforce renter reliance on multifamily housing, which can support lease retention and measured rent growth. The building stock here skews newer than 1975 on average (1985), so an older-vintage asset can differentiate through renovations and modernization that meet current renter expectations.
Comparable, neighborhood-level crime benchmarks are not available in WDSuite’s current data release for this location. Investors typically contextualize safety using metro comparisons and multi-year trends from municipal and third-party sources; pairing that with property-level measures (lighting, access control, and visibility) helps support leasing and retention.
Given the broader inner-suburban setting, prudent underwriting would incorporate recent police reports and insurer feedback, monitor trend direction versus the region, and align operating practices with resident expectations to maintain community standards without over-relying on any single metric.
Nearby corporate nodes span apparel retail, medical technology, financial services, consumer retail, and packaging—providing a diverse employment base that supports commuter demand and leasing depth for multifamily operators.
- Ascena Retail Group — apparel retail HQ offices (3.3 miles) — HQ
- Becton Dickinson — medical technology (7.7 miles) — HQ
- Prudential Financial — financial services (10.6 miles)
- Toys "R" Us — consumer retail offices (11.1 miles) — HQ
- Sealed Air — packaging (15.3 miles) — HQ
15 Washington Ave offers a 1975-vintage, 68-unit footprint in a top-quartile A- neighborhood where services and incomes underpin steady renter demand. The asset’s older vintage versus the area’s newer average positions it for a practical value-add program—unit interiors, building systems, and common areas—that can enhance competitiveness against more modern stock. Based on commercial real estate analysis sourced from WDSuite, neighborhood occupancy trends sit around the national mid-range, suggesting execution on renovations and leasing will be key to driving stabilized performance.
Within a 3-mile radius, population and household growth, along with high incomes and elevated ownership costs, point to sustained reliance on rental housing and a broader tenant base. Amenity access is strong across daily needs, which can support retention, though limited park access and the capital needs of an older asset warrant underwritten reserves and focused operations.
- A- neighborhood, top-quartile standing in the metro supports leasing fundamentals
- 1975 vintage creates clear value-add and systems modernization opportunities
- 3-mile population and household growth expands the renter base and supports occupancy stability
- Strong daily-needs amenity access aids tenant retention and operating consistency
- Risks: limited nearby parks, mid-range neighborhood occupancy, and capex requirements for an older building