| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 79th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 70 Ashburton Ave, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1975 |
| Units | 95 |
| Transaction Date | 2004-12-02 |
| Transaction Price | $700,000 |
| Buyer | HUDSON BLUE YONKERS LLC |
| Seller | ASHBURTON PROPERTIES LLC |
70 Ashburton Ave, Yonkers NY Investment Opportunity
Renter demand is deep in this Urban Core location, with neighborhood occupancy holding in the mid‑90s and a large base of renter‑occupied units, according to WDSuite’s CRE market data. Stability at the neighborhood level supports durable cash flow potential for a professionally managed income asset.
Located in Yonkers’ Urban Core, the neighborhood ranks competitive among New York‑Jersey City‑White Plains metro neighborhoods (312 of 889), reflecting balanced fundamentals rather than a boom‑or‑bust profile. Neighborhood occupancy is in the top quartile nationally, supporting revenue stability across cycles, and the renter‑occupied share is exceptionally high, indicating a deep tenant base for multifamily leasing.
Daily‑needs access is a strength: grocery and restaurant density sit in the mid‑to‑upper 90s nationally, parks access is near the top of the distribution, and cafes and childcare are also above national norms. One gap to note is limited nearby pharmacies. From an income perspective, neighborhood NOI per unit trends in the low‑80s national percentile, signaling competitive operating performance relative to peers.
Within a 3‑mile radius, population and households have grown over the last five years and are projected to expand further, implying a larger tenant base and support for occupancy. Median contract rents in this 3‑mile area have risen alongside incomes, and forward projections call for continued rent growth; investors should plan leasing strategies that balance pricing with retention as more renters enter the market.
Home values in the neighborhood sit below many down‑county Westchester submarkets, which, combined with a moderate rent‑to‑income ratio, suggests manageable affordability pressure that can aid lease retention. This context, paired with strong amenities and transit‑oriented commuting patterns typical of Yonkers, aligns with findings from WDSuite’s commercial real estate analysis.
Safety indicators are mixed and best viewed comparatively. The neighborhood ranks 140 out of 889 metro neighborhoods (lower rank indicates more reported crime), placing it below the metro median for safety, while national percentiles point closer to the middle of the pack overall. Property‑related incidents benchmark somewhat better than violent categories nationally, and recent trends show an improvement in violent‑offense rates year over year.
Investors should underwrite prudent security measures and resident‑experience programs. As always, assess block‑level conditions during due diligence and compare to submarket peers for context on leasing, insurance, and operating assumptions.
Nearby corporate anchors provide a diversified employment base that supports renter demand and commute convenience, led by Cognizant Technology Solutions, Prudential Financial, Mastercard, Disney ABC Television Group, and Pepsico.
- Cognizant Technology Solutions — IT services (7.4 miles) — HQ
- Prudential Financial — financial services (10.0 miles)
- Mastercard — payments technology (11.2 miles) — HQ
- Disney ABC Television Group — media offices (12.3 miles)
- Pepsico — food & beverage (12.4 miles) — HQ
Built in 1975, the asset is newer than much of the surrounding housing stock and can compete well against older properties while still offering potential value‑add through systems upgrades and common‑area modernization. Neighborhood fundamentals point to durable demand: occupancy sits in the national top quartile and renter concentration is among the highest nationwide, supporting depth of tenant base and lease‑up certainty. According to CRE market data from WDSuite, neighborhood NOI per unit trends above national medians, consistent with stable income performance.
Within a 3‑mile radius, recent gains in population and households, along with projected increases through the medium term, indicate a growing renter pool that can support occupancy and measured rent growth. A moderate rent‑to‑income profile and home values below many nearby ownership alternatives can reinforce renter reliance on professionally managed housing, aiding retention while allowing disciplined rent management.
- Occupancy strength and very high renter‑occupied share support leasing stability
- 1975 vintage offers competitive positioning versus older stock with value‑add potential
- Amenity‑rich Urban Core location (groceries, parks, dining) enhances renter appeal
- Growing 3‑mile population and households expand the tenant base and support occupancy
- Risks: safety is below metro median; limited pharmacy access; plan for capex typical of 1970s assets