| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4610 88th St, Elmhurst, NY, 11373, US |
| Region / Metro | Elmhurst |
| Year of Construction | 2012 |
| Units | 28 |
| Transaction Date | 2011-02-11 |
| Transaction Price | $2,570,000 |
| Buyer | 86-50 DONGAN AVE LLC |
| Seller | 33-09 31ST AVENUE ASTORIA LLC |
4610 88th St Elmhurst NY Multifamily Investment
Built in 2012 with 28 units, this Elmhurst asset benefits from a renter-heavy neighborhood and mid-90s occupancy stability, according to WDSuite’s CRE market data. Investors get newer-vintage positioning versus older local stock, supporting competitive leasing and retention.
Elmhurst’s Urban Core location offers dense everyday conveniences that support leasing velocity. Amenity access ranks in the top quartile among 889 metro neighborhoods, with strong concentrations of groceries, pharmacies, parks, and cafes—favorable for resident satisfaction and daily foot traffic.
The neighborhood’s housing is predominantly renter-occupied, with the share of renter-occupied units in the top quartile among the 889 metro neighborhoods and very high nationally. For multifamily investors, this depth of renter concentration points to a broad tenant base and durability of demand across cycles.
Construction in the surrounding area skews older (average late-1960s), while this property’s 2012 vintage is newer than much of the competitive set. That positioning can reduce near-term capital needs and enhance leasing competitiveness, while still warranting routine system updates and potential modernization to maintain pricing power.
Within a 3-mile radius, demographic data indicate modest population growth and a larger increase in households alongside smaller average household sizes. This dynamic typically expands the renter pool and supports occupancy stability. Elevated home values in the area create a high-cost ownership market, which tends to reinforce reliance on multifamily rentals and can aid lease retention and rent integrity. Median contract rents have trended upward over the last five years, consistent with regional conditions reported by WDSuite.
Operationally, neighborhood occupancy is healthy and has improved over the last five years. At the same time, rent-to-income levels suggest some affordability pressure, so disciplined lease management and amenity-driven value can be important for retention.
Safety metrics are mixed. Relative to the New York–Jersey City–White Plains metro, the neighborhood’s overall crime rank is competitive among 889 neighborhoods; however, compared with neighborhoods nationwide, safety percentiles are below average. For investors, this suggests careful attention to property-level security, lighting, and access controls to support resident confidence.
Recent trend data from WDSuite indicate year-over-year declines in both violent and property offense estimates (roughly mid‑20% and low‑30% reductions, respectively). While one year does not establish a long-term trend, improvement can help leasing optics when combined with proactive on-site measures.
Proximity to major employers supports commuter convenience and renter demand, with a mix of airline, defense, pharmaceuticals, and financial services roles that diversify the employment base.
- Jetblue Airways — airline HQ (3.3 miles) — HQ
- Lockheed Martin — defense & aerospace offices (4.9 miles)
- Pfizer — pharmaceuticals HQ (5.0 miles) — HQ
- Citigroup — banking HQ (5.1 miles) — HQ
- TIAA — financial services HQ (5.1 miles) — HQ
4610 88th St offers newer-vintage product (2012) in a renter-centric Elmhurst micro-market, with amenity density that supports absorption and day-to-day resident convenience. Neighborhood occupancy has trended up, and elevated ownership costs in Queens sustain reliance on rentals—favorable for lease retention and pricing discipline. According to CRE market data from WDSuite, the surrounding area’s household counts within a 3-mile radius have been rising, and forward-looking projections point to additional household growth alongside smaller household sizes—an underpinning for multifamily demand.
Investor focus should balance these strengths with prudent risk controls: affordability pressure warrants careful renewal strategies, and safety optics call for visible on-site measures. The property’s 2012 vintage should be competitively positioned versus older stock, while targeted modernization can preserve differentiation and NOI.
- Renter-heavy neighborhood and improving occupancy support durable tenant demand
- 2012 construction provides competitive positioning versus older local stock, with manageable capital planning
- Dense amenities and transit-friendly urban core bolster leasing velocity and retention
- High-cost ownership market reinforces multifamily reliance and rent integrity
- Risks: affordability pressure and below-national safety percentiles require thoughtful leasing and security strategies