| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8832 50th Ave, Elmhurst, NY, 11373, US |
| Region / Metro | Elmhurst |
| Year of Construction | 1990 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8832 50th Ave Elmhurst, NY Multifamily Investment
Neighborhood occupancy is resilient and renter demand is deep, according to WDSuite’s CRE market data, supporting steady operations for a professionally managed asset in Elmhurst.
Elmhurst’s Urban Core setting offers strong day-to-day convenience that supports leasing and retention. The neighborhood scores a B+ and sits above the national average for occupancy, with a high renter concentration (measured as renter-occupied housing share) indicating depth of the tenant base. Cafes, restaurants, groceries, pharmacies, and parks are dense by national standards, helping sustain foot traffic and local service employment.
Local housing stock skews older (average construction year 1969), while this property was built in 1990. Being newer than much of the nearby inventory can enhance competitive positioning versus older walk-ups, though investors should still plan for system modernization typical of 1990s vintage assets where needed.
Within a 3-mile radius, demographics show modest recent population growth with projections pointing to additional population and household gains alongside smaller average household sizes. For multifamily, that mix tends to expand the renter pool and supports occupancy stability over time. Median contract rents in the area have risen over the last five years while remaining below ownership costs implied by elevated home values, which reinforces reliance on rental housing and can aid lease retention.
From an investor’s lens, elevated rent-to-income levels in parts of the neighborhood suggest some affordability pressure; proactive lease management and renewal strategies are prudent. School ratings trail national benchmarks, which may limit appeal for some family renters, but the amenity density and transit-oriented urban context are favorable for working professionals. These dynamics align with what a careful commercial real estate analysis would expect in a mature Queens submarket.
Safety indicators in this neighborhood are below national averages (lower national percentiles indicate higher crime), so investors should underwrite appropriate security, lighting, and access controls. That said, recent trend data shows year-over-year declines in both violent and property offense estimates, indicating improving conditions compared with many neighborhoods nationwide.
Use a comparative lens: assess the property’s operations versus similar Urban Core assets across the New York–Jersey City–White Plains metro, and consider measures that support resident comfort and retention. Monitoring local trend lines is advisable as part of ongoing asset management.
Proximity to major employers supports renter demand by shortening commutes for a wide range of professions, from airlines and pharmaceuticals to finance and aerospace. The following nearby corporate offices are key drivers for workforce housing and leasing stability:
- Jetblue Airways — airline (3.5 miles) — HQ
- Prudential — financial services (5.2 miles)
- Lockheed Martin — defense & aerospace offices (5.2 miles)
- Pfizer — pharmaceuticals (5.3 miles) — HQ
- Citigroup — banking (5.3 miles) — HQ
This 32-unit 1990-vintage property sits in a renter-centric Elmhurst location where neighborhood occupancy trends are above national averages and amenity density is exceptionally high. Being newer than the area’s typical 1960s-era stock can provide a competitive edge while leaving room for targeted value-add through common-area refreshes and system upgrades. According to CRE market data from WDSuite, elevated home values across the neighborhood context help sustain reliance on multifamily rentals, supporting demand durability.
Forward-looking 3-mile demographics point to population growth and a larger household count with smaller average household sizes, which generally expands the tenant base and supports leasing. Key risks to underwrite include below-average school ratings, safety metrics that trail national norms despite recent improvement, and pockets of rent-to-income pressure that call for disciplined renewal and pricing strategies.
- Renter-heavy neighborhood supports deep tenant base and steady occupancy
- 1990 vintage is newer than much of local stock, offering competitive positioning and value-add angles
- Amenity-rich Urban Core location near major employers aids retention and leasing velocity
- Demographic outlook within 3 miles indicates renter pool expansion supporting long-term demand
- Risks: below-average school ratings, safety metrics below national averages, and affordability pressure require prudent lease management