| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 28th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 512 Union Ave, Westbury, NY, 11590, US |
| Region / Metro | Westbury |
| Year of Construction | 2008 |
| Units | 35 |
| Transaction Date | 2007-07-31 |
| Transaction Price | $180,000 |
| Buyer | APEX II LLC |
| Seller | NORTH HEMP |
512 Union Ave, Westbury NY Multifamily Investment
High neighborhood occupancy and steady renter demand support income stability, according to WDSuite's CRE market data. The 2008 vintage positions this 35-unit asset competitively versus older local stock.
Neighborhood & Demand Drivers
Local occupancy trends are strong for the neighborhood and have improved over the past five years, signaling resilient leasing conditions. Median asking rents in the area sit on the higher end for the region, while rent-to-income levels remain manageable, helping support retention and measured pricing power.
Livability is reinforced by access to daily-needs retail: grocery, parks, and pharmacies test in the low 90s by national percentile, while cafes and restaurant density is thinner. For investors, that mix favors everyday convenience over destination dining. School rating data in this dataset is limited; underwriting that is sensitive to school preferences should account for property-level leasing history and submarket alternatives.
Construction in the neighborhood skews older (average early 1960s), so a 2008 asset stands out with more contemporary systems and layouts, which can reduce near-term capital needs and enhance competitive positioning. At the same time, selective modernization may still be prudent to maintain renter appeal versus newly delivered stock nearby.
Within a 3-mile radius, incomes are high and households have inched up, with forecasts indicating further household growth and smaller average household sizes ahead. That combination typically enlarges the tenant base for apartments and supports occupancy stability. The renter-occupied share is lower than in many urban cores, indicating a deep ownership market; investors should plan for targeted marketing and amenity positioning to capture the existing renter pool. For multifamily property research, elevated home values suggest a high-cost ownership market that can sustain reliance on rentals and support lease retention.
Safety Context
Based on WDSuite's CRE market data, the neighborhood compares favorably to many U.S. areas on safety, landing in the upper tiers nationally. Property offenses have declined notably year over year, which supports leasing confidence and tenant retention. Always assess property-specific security measures and recent incident trends as part of due diligence.
Within the Nassau–Suffolk metro, relative positioning can differ from national comparisons, so investors should benchmark against nearby neighborhoods and recent comps to calibrate underwriting assumptions.
A diversified nearby employment base in finance, healthcare supplies, insurance, and logistics supports renter demand and commute convenience, including Citizens Bank Home Mortgages, Henry Schein, Prudential, W.R. Berkley, and XPO Logistics.
- Citizens Bank Home Mortgages - financial services (7.4 miles)
- Henry Schein - healthcare supplies (8.6 miles) - HQ
- Prudential - financial services (15.5 miles)
- W.R. Berkley - insurance (18.2 miles) - HQ
- XPO Logistics - logistics (18.5 miles) - HQ
Investment Thesis
The 2008 construction provides a competitive edge over the neighborhood's older housing stock, helping lower near-term capital exposure while offering modern layouts that support leasing. High neighborhood occupancy and elevated home values reinforce reliance on rentals, suggesting durable demand and stable cash flow potential.
Within a 3-mile radius, incomes are strong and households are projected to increase, pointing to a larger tenant base and ongoing renter pool expansion. According to CRE market data from WDSuite, neighborhood occupancy trends remain above national norms, while rents are supported by a high-cost ownership market and manageable rent-to-income levels for the area.
- Newer 2008 vintage versus local average, aiding competitiveness and moderating near-term capex
- High neighborhood occupancy supports income stability and lease retention
- Strong incomes and projected household growth within 3 miles expand the renter base
- Elevated home values sustain rental demand and measured pricing power
- Risks: thinner dining amenities and a smaller renter-occupied share require focused marketing and amenity strategy