| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 87th | Best |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 951 Oceanfront, Long Beach, NY, 11561, US |
| Region / Metro | Long Beach |
| Year of Construction | 1975 |
| Units | 33 |
| Transaction Date | 2021-10-22 |
| Transaction Price | $8,250,100 |
| Buyer | FAIRFIELD 951 OCEANFRONT LLC |
| Seller | ARCADIA MANAGEMENT LLC |
951 Oceanfront Long Beach — 33-Unit Beachfront Multifamily
Positioned on Long Beach’s oceanfront, the asset benefits from strong neighborhood incomes and amenity depth that support rent levels and tenant retention, according to WDSuite’s CRE market data. Neighborhood metrics point to durable renter demand rather than rapid lease-up risk.
The property sits within an Inner Suburb neighborhood that ranks among the highest-performing areas in the Nassau County–Suffolk County metro (top tier out of 608 neighborhoods), supported by extensive dining, cafés, groceries, and parks. Amenity density compares favorably at the national level, with restaurants, cafés, and parks each in the top quartile nationally, which can bolster leasing velocity and day-to-day livability for residents.
Average school ratings in the surrounding area are in the upper national quartiles, a draw for households seeking stability and helping reduce turnover risk. Household incomes are also high by national comparison, reinforcing the depth of qualified renters and providing some cushion on rent-to-income considerations for lease management.
Home values in this neighborhood are elevated relative to most U.S. areas, which typically sustains reliance on multifamily housing and supports pricing power. At the same time, renter-occupied share is moderate rather than dominant, indicating a tenant base with depth but also some competition from ownership; effective operations may rely on service quality and coastal lifestyle advantages to drive retention.
Neighborhood occupancy is measured at the neighborhood level (not the property) and trends on the softer side versus national peers; however, the 3-mile demographics point to a stable population today and a projected increase in households over the next five years, which would expand the renter pool and support occupancy stability. These demand drivers, based on CRE market data from WDSuite, align with steady long-term leasing fundamentals.
Relative to neighborhoods nationwide, the area shows strong safety signals, with violent-offense measures in the top percentiles nationally, indicating comparatively low exposure to severe incidents. Property-offense indicators also benchmark favorably at the national level, though there has been a recent year-over-year uptick that investors may wish to monitor as part of ongoing asset management.
These assessments reflect neighborhood-level conditions rather than the property itself and should be considered alongside building security practices and resident mix when underwriting.
Proximity to regional corporate offices provides a diversified white-collar employment base that can support renter demand and retention, particularly for residents prioritizing commute convenience to Prudential, JetBlue Airways, Dr Pepper Snapple Group, AIG, and S&P Global.
- Prudential — corporate offices (10.1 miles)
- Jetblue Airways — corporate offices (17.3 miles) — HQ
- Dr Pepper Snapple Group — corporate offices (18.3 miles)
- Aig — corporate offices (18.4 miles) — HQ
- S&P Global — corporate offices (18.5 miles) — HQ
Built in 1975, the asset is materially newer than much of the surrounding housing stock, offering competitive positioning versus older inventory while still presenting potential value-add through targeted interior upgrades and systems modernization. High neighborhood incomes and elevated home values support renter demand and pricing resilience, and nearby amenities and schools strengthen retention. While neighborhood-level occupancy reads softer than national peers, forward 3-mile household growth points to a larger tenant base over time, according to commercial real estate analysis from WDSuite.
Taken together, coastal lifestyle appeal, diversified nearby employment, and relative vintage advantage frame a defensible, operations-driven thesis focused on steady occupancy and disciplined rent management, with attention to seasonal and neighborhood dynamics.
- 1975 vintage is newer than local stock, supporting competitive positioning with selective value-add potential
- Elevated home values and high incomes reinforce multifamily demand and pricing power
- 3-mile projections indicate household growth, expanding the tenant base and supporting occupancy over time
- Monitor risks: softer neighborhood occupancy readings and typical coastal-seasonality considerations