| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 20th | Poor |
| Amenities | 73rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 334 Beach 54th St, Arverne, NY, 11692, US |
| Region / Metro | Arverne |
| Year of Construction | 2004 |
| Units | 32 |
| Transaction Date | 2017-03-31 |
| Transaction Price | $1,967,594 |
| Buyer | CWG BEACH II LLC |
| Seller | WNC HOUSING LP |
334 Beach 54th St, Arverne NY — 32-Unit 2004 Multifamily
Neighborhood occupancy has remained in the mid-90s with an upward five-year trend, indicating stable renter demand according to WDSuite’s CRE market data. A high renter concentration in the area supports leasing durability for a smaller, efficiency-oriented unit mix.
Located in Queens’ Arverne, the property sits in an Urban Core neighborhood rated C+ that shows solid occupancy and renter depth. The neighborhood’s occupancy rate is in the low-to-mid 90s and has improved over the last five years, placing it in the top quartile nationally for stability. Renter-occupied housing is prevalent, indicating a wide tenant base for multifamily operators and consistent lease-up potential.
Daily-needs access is a relative strength: grocery availability is competitive among New York-Jersey City-White Plains neighborhoods (ranked 327 of 889), and pharmacies are above the metro median, supporting convenience for residents. Restaurant density is moderate while cafés are limited, suggesting service-oriented retail is present but experiential food-and-beverage is thinner within close reach.
Schools in the neighborhood rate below national norms, which may modestly temper demand from families seeking top academic performance. Parks access and childcare coverage test above national medians, helping round out livability for a broad renter profile even if school ratings trail peers.
Within a 3-mile radius, population and households have expanded over the past five years, contributing to renter pool expansion. Forward-looking data indicate a potential shift toward smaller household sizes and more households overall, which can support absorption of smaller units and sustain occupancy, based on CRE market data from WDSuite. The area is a high-cost ownership market by national comparison, and elevated home values tend to reinforce reliance on rental options, supporting pricing power and retention in multifamily.
Built in 2004, the asset is newer than the neighborhood’s older housing stock (average vintage early 1970s). That relative youth can enhance competitive positioning versus legacy buildings, though investors should still plan for system updates and common-area refreshes typical of 20-year-old properties.
Safety indicators are mixed. Compared with neighborhoods nationwide, this area sits below the national median for safety; however, recent trends show year-over-year declines in both property and violent offenses, which is constructive for long-term operations. Within the New York-Jersey City-White Plains metro, the neighborhood is competitive among 889 neighborhoods by overall crime rank, underscoring the importance of property-level security, lighting, and tenant engagement to support resident experience.
Nearby corporate employers provide a diverse white-collar employment base that supports renter demand and commute convenience, including Prudential, JetBlue Airways, Dr Pepper Snapple Group, AIG, and S&P Global.
- Prudential — insurance (6.2 miles)
- JetBlue Airways — airline HQ & corporate (13.6 miles) — HQ
- Dr Pepper Snapple Group — beverages (13.7 miles)
- AIG — insurance (14.0 miles) — HQ
- S&P Global — financial information & ratings (14.1 miles) — HQ
This 32-unit property (average unit size ~500 SF) offers exposure to an Urban Core renter base with a high share of renter-occupied housing and neighborhood occupancy in the mid-90s. According to CRE market data from WDSuite, occupancy has strengthened over the past five years, and elevated home values relative to incomes in the area support continued reliance on rental housing, aiding lease retention and pricing power.
The 2004 vintage is newer than much of the surrounding housing stock, providing a competitive edge versus older assets while still offering scope for targeted value-add (systems modernization and interiors). Within a 3-mile radius, rising household counts and a trend toward smaller households point to a larger tenant base for compact floorplans. Key watch items include below-national safety metrics and rent-to-income pressures that call for attentive lease management and amenity programming aligned with workforce renters.
- High renter concentration and stable neighborhood occupancy support leasing durability
- 2004 construction offers competitive positioning versus older local stock with value-add potential
- Elevated ownership costs in Queens reinforce demand for professionally managed rentals
- 3-mile trends toward more households and smaller household sizes support absorption of smaller units
- Risks: below-national safety metrics and affordability pressure require active management