| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 43rd | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 Odell Ave, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 2001 |
| Units | 120 |
| Transaction Date | 2015-08-31 |
| Transaction Price | $22,700,000 |
| Buyer | L&A RE Acquisitions, LLC |
| Seller | Michael Malotz Skilled |
120 Odell Ave Yonkers Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-average occupancy, according to WDSuite’s CRE market data. A 2001 vintage positions the asset competitively versus older local stock while leaving room for targeted modernization.
Situated in Yonkers’ Urban Core, the neighborhood posts an occupancy rate that is above the national average and competitive within the New York–Jersey City–White Plains metro. Median contract rents sit in the upper national percentiles, signaling durable pricing power for stabilized assets without relying on outsized concessions (based on CRE market data from WDSuite).
The submarket skews toward ownership, with an estimated 38.7% of housing units renter-occupied at the neighborhood level. For investors, that translates into a moderate but dependable tenant base, reinforced by household incomes that rank in higher national percentiles. Elevated home values relative to national norms indicate a high-cost ownership market, which can sustain reliance on multifamily options and support lease retention.
Demographic statistics aggregated within a 3-mile radius show population and household growth over the past five years, with households rising meaningfully and additional gains projected through the forecast period. This expansion implies a larger tenant base and supports occupancy stability for well-located, professionally managed properties.
Local amenity access is mixed: parks and childcare availability compare favorably at the national level, and grocery access is solid, while cafes, restaurants, and pharmacies are comparatively limited in the immediate area. School ratings appear weaker relative to metro and national benchmarks, an item to consider for family-oriented leasing strategies. Notably, neighborhood NOI per unit performance ranks in the top percentile nationally, underscoring strong operating potential for assets that match local demand.
Safety indicators benchmark favorably versus neighborhoods nationwide, with overall conditions aligning around the top quartile nationally. Recent trend data also show year-over-year declines in both property and violent offense rates, suggesting improving conditions at the neighborhood scale. As always, investors should evaluate micro-location factors and on-site security practices as part of due diligence.
The broader Westchester–Fairfield employment base includes finance, technology, and consumer goods anchors that support commuter demand and leasing stability for workforce and professional renters. The nearby roster includes Citizens Bank mortgages, Cognizant Technology Solutions, Mastercard, Prudential Financial, and PepsiCo.
- Fernando DaCunha - Citizens Bank, Home Mortgages — finance services (8.9 miles)
- Cognizant Technology Solutions — IT services (9.1 miles) — HQ
- Mastercard — payments (10.0 miles) — HQ
- Prudential Financial — insurance (10.1 miles)
- PepsiCo — consumer goods (11.1 miles) — HQ
120 Odell Ave offers a 2001-vintage, 120-unit profile in a neighborhood where occupancy trends are above national norms and renter demand is reinforced by a high-cost ownership landscape. Demographic growth within a 3-mile radius points to a larger tenant base ahead, supporting leasing durability and measured rent growth for well-managed assets.
The property’s newer vintage relative to older neighborhood stock suggests competitive positioning with potential value-add via interior upgrades and systems modernization. According to CRE market data from WDSuite, neighborhood rent levels and NOI performance compare favorably at the national level, while amenity gaps (limited cafes/restaurants) and softer school ratings are considerations for underwriting and marketing strategy.
- Above-average neighborhood occupancy and strong rent positioning support income stability
- 2001 construction provides competitive edge versus older local stock with renovation upside
- 3-mile radius shows population and household growth, expanding the renter pool
- High-cost ownership market supports multifamily reliance and lease retention
- Risks: limited dining/retail density nearby and weaker school ratings may affect certain tenant segments