| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 28th | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 107 James L L Burrell Ave, Hempstead, NY, 11550, US |
| Region / Metro | Hempstead |
| Year of Construction | 2000 |
| Units | 36 |
| Transaction Date | 2023-02-13 |
| Transaction Price | $4,100,000 |
| Buyer | JAMES BURRELL LP |
| Seller | ANTIOCH HOUSING DEVELOPMENT FUND CORP |
107 James L L Burrell Ave Hempstead Multifamily Investment
Renter-occupied housing is substantial in the surrounding neighborhood, supporting demand and lease retention, while occupancy trends sit near the metro midpoint according to WDSuite’s CRE market data.
Situated in Hempstead’s Urban Core, the property benefits from neighborhood fundamentals that are above the metro median among 608 Nassau–Suffolk neighborhoods (overall rating: B). Grocery, park, and pharmacy access compare well against national norms, while cafe density is thinner — a mix that favors daily convenience over boutique retail. Net operating income per unit benchmarks are competitive locally and sit in the top quartile nationally.
The area’s housing stock skews mid-20th-century, and a 2000-vintage asset is comparatively newer, which can be positioned against legacy properties; investors should still budget for mid-life system updates and common-area refresh over a typical hold. Neighborhood occupancy reads near the national midpoint, indicating steady rather than overheated leasing conditions.
Renter concentration is high for the metro (share of units that are renter-occupied ranks in the upper tier locally), pointing to a deeper tenant base and supporting multifamily absorption. Elevated home values and value-to-income ratios characterize a high-cost ownership market, which generally sustains reliance on rental housing and can aid pricing power and retention.
Within a 3-mile radius, recent population growth and an increase in households — alongside a gradual reduction in average household size — indicate a larger renter pool over time. These dynamics support occupancy stability and ongoing interest in well-located apartments, based on commercial real estate analysis from WDSuite.
Safety indicators compare favorably in a national context. Recent readings place the neighborhood in the top quartile nationally for lower violent-offense exposure, and property-offense metrics also trend on the stronger (safer) side relative to U.S. neighborhoods. Year-over-year measures show meaningful improvement, which is constructive for long-term leasing stability. As with any urban submarket, conditions can vary by block and over time.
Commuting access to established corporate employers underpins renter demand and retention, with proximity to financial services, healthcare distribution, and airlines reflected below.
- Fernando Monasterio - Citizens Bank, Home Mortgages — financial services (10.1 miles)
- Henry Schein — healthcare distribution (11.0 miles) — HQ
- Prudential — financial services (12.9 miles)
- Jetblue Airways — airlines (17.1 miles) — HQ
- Lockheed Martin — defense & aerospace offices (18.7 miles)
This 36-unit, 2000-vintage asset is newer than much of the surrounding housing stock, offering competitive positioning versus older properties while still warranting capital planning for mid-life systems. A high renter-occupied share in the neighborhood and a high-cost ownership landscape point to a durable tenant base and steady leasing, while occupancy levels track near metro norms, according to CRE market data from WDSuite.
Within a 3-mile radius, population growth and a rising household count — alongside smaller average household sizes — suggest gradual renter pool expansion that supports occupancy stability. Strong everyday amenities (groceries, parks, pharmacies) bolster livability, though school ratings trail regional leaders and cafe-driven retail is thinner, which investors should weigh in underwriting and demand assumptions.
- Newer 2000 construction versus nearby legacy stock supports competitive positioning and rentability
- High renter-occupied share and elevated ownership costs sustain multifamily demand and pricing power
- 3-mile demographic growth and smaller households expand the renter pool and support occupancy stability
- Amenity strength in groceries, parks, and pharmacies enhances day-to-day livability for residents
- Risks: school ratings are lower than regional leaders and occupancy trends are mid-range; cafe retail is thinner