| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3412 146th St, Flushing, NY, 11354, US |
| Region / Metro | Flushing |
| Year of Construction | 2004 |
| Units | 41 |
| Transaction Date | 2006-04-26 |
| Transaction Price | $3,500,000 |
| Buyer | 34-12 146TH STREET LLC |
| Seller | ROLEKE |
3412 146th St Flushing Multifamily Investment
2006-vintage, 41-unit asset positioned for steady renter demand in Queens’ Urban Core, with neighborhood occupancy holding firm according to WDSuite’s CRE market data. The area’s high-cost ownership market supports lease retention and pricing discipline without overreliance on concessions.
Situated in Flushing’s Urban Core, the neighborhood carries a B+ rating and is competitive among New York-Jersey City-White Plains, NY-NJ neighborhoods (ranked 298 of 889). Amenity access is a local strength: cafes, groceries, pharmacies, and restaurants score in the upper national percentiles, which supports resident convenience and leasing traction.
Neighborhood occupancy has remained solid in recent years, a constructive backdrop for income stability. These occupancy figures reflect the neighborhood, not the property. Within a 3-mile radius, household counts have increased while average household size has edged lower, expanding the renter pool and supporting absorption of smaller formats.
Tenure patterns indicate durable multifamily demand. At the neighborhood level, the share of renter-occupied housing is substantial, while 3-mile data show renters account for just over half of occupied units—both supportive of a broad tenant base. Median home values test high relative to national norms, reinforcing reliance on rental housing and aiding retention, while neighborhood rent-to-income conditions appear manageable in a national context.
Daily-needs amenities are a standout (cafes, childcare, groceries, pharmacies, and dining score well nationally), though park access is limited locally and should be considered in positioning. Average school ratings trend modestly above the national midpoint, helping broaden the resident profile. On balance, the amenity depth and stable renter demand create favorable conditions for multifamily operations, based on commercial real estate analysis from WDSuite.
Within the metro context, safety trends around the middle of the 889-neighborhood set. Compared with neighborhoods nationwide, indicators benchmark below average, so prudent on-site practices—lighting, access control, and coordination with community programs—can help sustain resident satisfaction and retention.
Recent readings suggest property offenses have eased modestly year over year, while violent offense measures remain elevated versus national norms. Investors should monitor trends and incorporate appropriate security planning during underwriting.
Nearby corporate nodes provide a diversified employment base—airline, finance, defense, hospitality, and holding-company offices—supporting commuter demand, leasing stability, and retention potential.
- JetBlue Airways — airline (6.3 miles) — HQ
- Prudential — financial services (7.0 miles)
- Lockheed Martin — defense & aerospace offices (7.8 miles)
- Loews — hospitality & holdings (7.8 miles) — HQ
- HRG Group — holding company (7.9 miles) — HQ
Built in 2006, the property is newer than much of the surrounding stock, offering competitive appeal versus older assets while leaving room for targeted updates to systems and common areas as needed. Neighborhood occupancy remains healthy and amenity access is strong, helping to support tenant retention. High ownership costs in the area sustain reliance on rentals, while neighborhood rent-to-income conditions suggest manageable affordability pressure for residents.
Within a 3-mile radius, household growth and a trend toward smaller household sizes point to a broader renter pool, supporting occupancy stability over time. According to CRE market data from WDSuite, the neighborhood’s fundamentals compare favorably on amenities and steady occupancy, though investors should account for safety considerations and prudent operating expense planning.
- 2006 vintage offers competitive positioning versus older area stock with selective value-add upside
- Stable neighborhood occupancy supports income consistency at the local level
- High-cost ownership market helps reinforce renter reliance and lease retention
- 3-mile household growth and smaller household sizes expand the tenant base for smaller units
- Risk: below-average national safety benchmarks and limited park access warrant security and amenity planning