| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 46th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14337 Sanford Ave, Flushing, NY, 11355, US |
| Region / Metro | Flushing |
| Year of Construction | 1973 |
| Units | 23 |
| Transaction Date | 2015-11-25 |
| Transaction Price | $6,200,000 |
| Buyer | C H SANFORD REALTY LLC |
| Seller | FRANK PASTORE MANAGEMENT LLC |
14337 Sanford Ave Flushing NY Multifamily Investment
Neighborhood fundamentals point to durable renter demand, with high renter-occupied share and above-average occupancy at the neighborhood level, according to WDSuite’s CRE market data. Stable utilization and deep local amenities support retention and pricing discipline for a 23-unit asset in Queens.
Situated in Flushing’s Urban Core, the property benefits from dense amenities and strong day-to-day convenience. Neighborhood amenity access trends in the top quartile nationally for restaurants, groceries, pharmacies, and cafes, supporting leasing velocity and resident retention. Average school ratings track near national midrange, an acceptable backdrop for a broad renter base.
At the neighborhood level, occupancy is above the metro median among 889 New York–Jersey City–White Plains neighborhoods and sits above national norms, which supports income stability through cycles. The share of housing units that are renter-occupied is high, landing in the top quartile locally, indicating a deep tenant base for multifamily operators.
The building’s 1973 vintage is older than the neighborhood’s average construction year, suggesting capital planning for systems and common areas alongside potential value-add upside. With an average unit size near 370 square feet, the unit mix can align with smaller-household living and singles—segments that are meaningful in this submarket.
Within a 3-mile radius, households have grown over the past five years and are projected to expand further by the next five-year period, while average household size trends lower. This combination typically enlarges the renter pool and supports occupancy stability, particularly for efficiently sized units. Elevated ownership costs in the area relative to income reinforce reliance on rental housing, aiding lease retention for well-managed properties.
Neighborhood safety indicators compare less favorably to national benchmarks, with overall crime levels positioned below the national median for safety. However, both violent and property offense rates show year-over-year improvement, indicating a constructive directional trend. Investors should underwrite to operating practices that support resident safety perception and retention, and monitor continued trend improvement at the neighborhood level.
Proximity to major corporate offices supports a robust commuter renter base and can enhance retention through employment diversity. Notable nearby employers include JetBlue Airways, Prudential, Lockheed Martin, HRG Group, and Loews.
- JetBlue Airways — airline HQ (5.8 miles) — HQ
- Prudential — financial services (6.3 miles)
- Lockheed Martin — defense & aerospace offices (7.4 miles)
- HRG Group — investment holding company (7.5 miles) — HQ
- Loews — diversified holdings (7.5 miles) — HQ
14337 Sanford Ave offers exposure to a renter-heavy Urban Core location with amenity depth and neighborhood occupancy that tracks above metro and national norms. Elevated ownership costs relative to income sustain rental demand, while the area’s leasing fundamentals, according to CRE market data from WDSuite, indicate support for ongoing utilization. The 1973 vintage is older than the neighborhood average, creating a clear value-add and capital planning angle.
Within a 3-mile radius, households have increased and are projected to grow further as average household size declines—conditions that typically expand the renter pool and support smaller-format units. Pairing these trends with strong employer access and dense amenities positions a well-operated, efficiently sized 23-unit asset for durable tenant demand, while prudent underwriting should account for affordability pressure and safety perceptions relative to national benchmarks.
- Renter-heavy neighborhood and above-median occupancy support income stability
- Amenity-dense Urban Core setting aids leasing velocity and retention
- 1973 vintage presents value-add and capital planning opportunities
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: affordability pressure and safety metrics below national median warrant conservative underwriting