| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 81st | Best |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 740 E Broadway, Long Beach, NY, 11561, US |
| Region / Metro | Long Beach |
| Year of Construction | 1972 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
740 E Broadway Long Beach Multifamily Investment
Positioned in a high-income coastal pocket of Nassau County, this asset benefits from durable renter demand and rising neighborhood rents, according to WDSuite’s CRE market data. The area’s ownership costs tend to sustain reliance on multifamily housing, supporting occupancy and rent growth over time.
Long Beach’s Urban Core setting offers livability features that matter to renters: strong grocery and pharmacy access (both near the top of neighborhoods nationally) and meaningful park coverage, while café and childcare density is comparatively thin. For investors, this amenity mix supports daily convenience and outdoor recreation, even if third‑place/social options are more limited.
Within the Nassau–Suffolk metro, the neighborhood is competitive at rank 69 out of 608 neighborhoods (A rating), placing it in the top quartile among metro peers. Nationally oriented indicators also skew favorable: amenities and demographics score above the median, while housing metrics land solidly above average, signaling sticky demand relative to many U.S. neighborhoods.
Rents in the neighborhood trend on the higher side of the national distribution, and the renter-occupied share is roughly one-third of units. That renter concentration points to a sizable tenant base and supports leasing velocity for well-managed properties. Neighborhood occupancy has improved over the past five years, which can translate to steadier cash flow when paired with disciplined operations.
Demographic statistics aggregated within a 3-mile radius indicate population growth alongside rising household incomes, with projections calling for additional increases and a modest downshift in average household size. For investors, this mix typically expands the renter pool and supports occupancy stability, while the area’s high-cost ownership market tends to reinforce multifamily demand.
Comparable neighborhood-level safety data are limited in the current release. Investors typically benchmark Long Beach against Nassau–Suffolk norms and prefer multi-year trends over single-period snapshots to gauge operational risk and insurance implications. Where possible, pair neighborhood comparisons with property-level security and lighting plans to support retention.
The broader employment base includes finance, healthcare, and transportation employers within commutable range, supporting workforce housing demand and lease retention for residents with regional office and HQ ties. The following nearby employers anchor that base:
- Prudential — insurance/financial services (12.4 miles)
- Fernando Monasterio - Citizens Bank, Home Mortgages — mortgage services (17.3 miles)
- Henry Schein — healthcare distribution (17.3 miles) — HQ
- JetBlue Airways — airline corporate offices (19.3 miles) — HQ
- Pfizer — pharmaceuticals (20.8 miles) — HQ
740 E Broadway is a 96-unit multifamily property built in 1972, slightly newer than much of the surrounding housing stock. That vintage provides a relative competitive edge versus older buildings nearby, while still offering potential to modernize systems and finishes for rent positioning. The neighborhood sits in the top quartile among 608 Nassau–Suffolk neighborhoods and shows improving occupancy alongside high national-percentile rents, indicating resilient demand drivers for stabilized operations.
High home values in Long Beach reinforce renter reliance on multifamily housing, which can support pricing power and lease retention when balanced against rent-to-income considerations. Demographic indicators within a 3-mile radius show population growth and rising incomes, expanding the tenant base and supporting steady absorption. According to CRE market data from WDSuite, neighborhood fundamentals trend above national medians on amenities and demographics, aligning with a long-term hold or value-add plan.
- 1972 construction offers competitive positioning vs. older local stock, with clear modernization and value-add pathways.
- Top-quartile neighborhood standing in the Nassau–Suffolk metro supports durable renter demand.
- High-cost ownership market reinforces multifamily reliance, aiding occupancy stability and pricing power.
- 3-mile demographics point to population growth and income gains, expanding the renter pool over time.
- Risks: occupancy levels can vary by season and asset quality; limited café/childcare density may temper lifestyle appeal for some renters.