| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 21st | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10310 37th Ave, Corona, NY, 11368, US |
| Region / Metro | Corona |
| Year of Construction | 1974 |
| Units | 48 |
| Transaction Date | 2003-01-03 |
| Transaction Price | $2,500,000 |
| Buyer | 104 INDUS LLC |
| Seller | 104 CORONA HOLDINGS LLC |
10310 37th Ave, Corona NY Multifamily Investment
Positioned in Queens an Urban Core neighborhood with deep renter demand and improving occupancy this 48-unit asset offers durable leasing fundamentals, according to WDSuite s CRE market data.
Corona s Urban Core location provides everyday convenience that supports retention and leasing velocity. Amenity access ranks 45 out of 889 metro neighborhoods and sits in the top quartile nationally, with dense coverage of cafes, groceries, restaurants, parks, and pharmacies. For investors, this concentration of neighborhood services reduces dependency on destination retail and helps sustain foot-traffic driven appeal.
Neighborhood occupancy is 92.8% and has trended higher over the last five years, which aligns with stable in-place demand rather than transient spikes. The share of housing units that are renter-occupied is 67.5% (ranked 128 of 889), indicating a deep tenant base that typically supports occupancy stability and consistent renewal activity.
Within a 3-mile radius, WDSuite s data shows modest recent population growth with a larger increase in households and rising incomes, pointing to a gradually expanding renter pool. Looking ahead, forecasts indicate further population and household gains by 2028, which should translate into a broader tenant base and support for steady absorption.
Ownership remains a high-cost proposition here relative to income (nationally high value-to-income ratios and elevated home values), which tends to reinforce reliance on multifamily rentals and supports pricing power. At the same time, rent-to-income levels suggest some affordability pressure, so asset management should balance renewal growth with retention objectives.
The average construction year across nearby stock is 1964; this property s 1974 vintage is newer than much of the area, offering a competitive edge versus older assets while still warranting targeted upgrades to systems, common areas, and finishes for potential value-add.
On relative metrics, Corona is competitive among New York Jersey City White Plains neighborhoods on overall housing and amenity quality, though school ratings track below national averages a consideration for family-oriented demand. Overall, the mix of services, renter concentration, and Urban Core connectivity are the primary drivers of investment appeal.
Safety indicators are mixed and should be assessed as part of underwriting. Within the metro, the neighborhood s crime rank is 228 out of 889, suggesting performance that is competitive among New York Jersey City White Plains neighborhoods. Compared with national benchmarks, however, safety sits below the median (low national percentiles for both violent and property offenses).
Recent trends are constructive: WDSuite s data shows year-over-year declines in both violent and property offense rates, placing those improvements above many U.S. neighborhoods. Investors should account for current conditions while recognizing the improving trajectory in the local data.
Proximity to major employers underpins commuter demand and supports renter retention, with access to aviation, finance, defense, and life sciences offices including JetBlue Airways, Lockheed Martin, Loews, Citigroup, and Pfizer.
- Jetblue Airways aviation HQ (3.6 miles) HQ
- Lockheed Martin defense & aerospace offices (5.3 miles)
- Loews diversified holdings HQ (5.4 miles) HQ
- Citigroup financial services HQ (5.4 miles) HQ
- Pfizer pharmaceuticals HQ (5.4 miles) HQ
This 48-unit, 1974-vintage property aligns with durable renter demand drivers in Corona high renter-occupied share, strong neighborhood amenities, and Urban Core connectivity. The asset is newer than much of the surrounding stock, offering relative competitiveness versus older buildings while leaving room for targeted renovations to enhance rent positioning and operating efficiency.
According to CRE market data from WDSuite, neighborhood occupancy has improved over five years and sits near the metro middle, while a high-cost ownership landscape continues to reinforce reliance on rentals. Within a 3-mile radius, recent and forecast gains in households and incomes suggest a gradually expanding tenant base, though investors should manage affordability pressure and monitor safety and school-quality considerations as part of risk controls.
- Urban Core location with top-tier amenity access supports leasing velocity and retention.
- 1974 vintage is newer than area average, with clear value-add potential via selective upgrades.
- High-cost ownership market sustains multifamily demand and pricing power over time.
- Renter-occupied share indicates deep tenant base; occupancy has improved over five years.
- Risks: below-median national safety and modest school ratings; manage affordability to support renewals.