| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9032 53rd Ave, Elmhurst, NY, 11373, US |
| Region / Metro | Elmhurst |
| Year of Construction | 1975 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9032 53rd Ave, Elmhurst NY Multifamily Investment
Neighborhood occupancy has trended higher with a deep renter-occupied base, supporting stable leasing and renewal potential, according to WDSuite’s CRE market data. Elevated home values in Queens further sustain renter reliance on multifamily housing.
Elmhurst’s Urban Core location offers daily convenience that supports renter retention. The neighborhood scores in the top national percentiles for access to groceries, pharmacies, parks, cafes, and dining, indicating dense amenity coverage within walking and short transit distances. These amenity concentrations are competitive among the 889 neighborhoods in the New York–Jersey City–White Plains metro.
For investors evaluating demand durability, neighborhood occupancy is strong with a multi‑year uptick, while the share of renter‑occupied housing is high. This points to a sizable tenant base and depth of demand for professionally managed apartments, though lease management should account for affordability pressure where rent-to-income ratios run elevated in the area.
Home values in the neighborhood are high relative to local incomes, a dynamic that typically reinforces sustained rental demand and aids lease retention in well‑run assets. Median asking rents have risen over the last five years, consistent with broader New York City trends, yet demand has remained resilient as indicated by stable neighborhood occupancy.
Demographic statistics aggregated within a 3‑mile radius show modest recent population growth and an increase in households, with forecasts calling for further population gains and smaller average household sizes through 2028. This combination generally expands the renter pool and supports occupancy stability for well-positioned Class B assets.
The asset’s 1975 vintage is slightly newer than the neighborhood’s average construction year. Investors should budget for mid‑life system upgrades and common‑area refreshes; in turn, selective renovations can position units competitively against older nearby stock.
Safety conditions should be evaluated at the street level, but at the neighborhood scale this area trends below national safety averages. Within the New York–Jersey City–White Plains metro, it is not among the stronger‑ranked neighborhoods on crime; however, year‑over‑year trends show notable declines in both violent and property offense rates, which is a constructive directional signal. Use on‑site observations, recent comps, and property‑level security enhancements when underwriting.
Proximity to major employers across aviation, financial services, and life sciences supports commuter convenience and broad white‑collar renter demand. The following nearby corporate offices anchor the employment base referenced here.
- JetBlue Airways — airline HQ and corporate operations (3.6 miles) — HQ
- Prudential — insurance and asset management offices (5.0 miles)
- Lockheed Martin — defense & aerospace offices (5.3 miles)
- Pfizer — pharmaceuticals corporate offices (5.3 miles) — HQ
- TIAA — financial services corporate offices (5.4 miles) — HQ
9032 53rd Ave is a 30‑unit, mid‑1970s multifamily asset in Elmhurst with steady neighborhood occupancy and a high concentration of renter‑occupied housing units. According to CRE market data from WDSuite, amenity density is among the metro’s most competitive, and elevated home values in Queens tend to keep households in the rental market longer, supporting renewal rates for well‑managed properties.
The 1975 vintage suggests value‑add and capital planning opportunities around building systems and interiors. Within a 3‑mile radius, population and household counts are projected to rise while average household size trends lower, implying renter pool expansion. Directionally rising neighborhood rents and strong amenity access support pricing power, though underwriting should incorporate rent‑to‑income affordability pressure and local safety differentials by micro‑location.
- Dense amenity coverage and transit‑oriented Urban Core location bolster retention and leasing velocity.
- High renter‑occupied share in the neighborhood indicates depth of tenant demand for multifamily.
- 1975 vintage offers value‑add potential through selective renovations and system upgrades.
- Household and population growth within 3 miles point to a larger renter base and support occupancy stability.
- Risk: Elevated rent‑to‑income ratios and below‑average neighborhood safety warrant conservative leasing and operating assumptions.