| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 84th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10919 72nd Ave, Forest Hills, NY, 11375, US |
| Region / Metro | Forest Hills |
| Year of Construction | 1986 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10919 72nd Ave, Forest Hills NY Multifamily Investment
Positioned in an amenity-rich Queens submarket with steady renter demand, this 22-unit asset offers income durability supported by neighborhood occupancy that trends slightly above national medians, according to WDSuite’s CRE market data.
Forest Hills scores in the top decile among 889 New York–Jersey City–White Plains metro neighborhoods (A-rated), with dense urban conveniences that support leasing and renewals. Grocery, pharmacy, parks, restaurant, cafe, and childcare densities rank near the top nationally, reducing commute friction for daily needs and enhancing appeal to time-constrained renters.
Neighborhood occupancy is stable around the national upper-middle range, which can aid cash flow consistency. The local renter-occupied share is about half of housing units, indicating a deep tenant base; within a 3-mile radius, renters account for a modest majority, broadening the marketing funnel for smaller-format apartments.
Home values in the neighborhood are elevated relative to national norms, which, combined with healthy household incomes, tends to reinforce reliance on multifamily rentals and can support pricing power while requiring attentive lease management to monitor affordability pressure. Median contract rents have risen over the past five years, aligning with strong New York demand dynamics documented in WDSuite’s commercial real estate analysis.
The property’s 1986 vintage is newer than the area’s older housing stock (average vintage in the 1950s), providing a competitive edge versus prewar and mid-century buildings; investors should still plan for ongoing system upgrades and modernization to meet current renter expectations. Compact average unit sizes (about 425 sq ft) can capture singles and transit-oriented renters seeking convenience over space.
Relative to neighborhoods nationwide, local safety indicators sit below the national median, and the area ranks around the metro middle among the 889 New York–Jersey City–White Plains neighborhoods. For investors, this argues for standard security measures and attentive property management to support retention.
Property and violent offense rates benchmark in the lower national percentiles, yet recent year-over-year trends point to improvement, with both categories showing declines. Framing this as a managed risk, rather than a structural deterrent, is prudent for underwriting and onsite operations.
Proximity to diversified employers across finance, airlines, pharmaceuticals, aerospace, and telecommunications supports a broad workforce renter base and commute convenience that can enhance leasing stability.
- Prudential — financial services/insurance (3.7 miles)
- Jetblue Airways — airline (5.5 miles) — HQ
- Pfizer — pharmaceuticals (7.2 miles) — HQ
- Lockheed Martin — aerospace & defense (7.2 miles)
- Verizon Communications — telecommunications (7.3 miles)
10919 72nd Ave is a 22-unit, 1986-vintage property in a top-decile Forest Hills neighborhood marked by dense amenities and steady renter demand. Neighborhood occupancy trends modestly above national medians, and elevated home values in Queens sustain reliance on rentals, which can support rent growth and renewal rates when paired with disciplined affordability monitoring. Based on CRE market data from WDSuite, recent rent and income trends suggest durable demand for professionally managed units.
Within a 3-mile radius, the population is stable and households are projected to increase while average household size edges lower, implying a larger tenant base over time. The asset’s newer-than-area vintage can out-compete older stock, though investors should underwrite modernization and building system updates. Compact average unit sizes position the property for workforce and transit-oriented renters, offering a potential occupancy advantage in an urban core setting.
- Top-decile neighborhood within the NYC metro with dense amenities that support leasing and retention
- Occupancy trends in the neighborhood sit above national medians, supporting income stability
- 1986 vintage offers competitive positioning versus older local stock; plan for targeted modernization
- Household growth within 3 miles and shrinking household size expand the renter pool over time
- Risk: Safety metrics are below national median; proactive security and management are advisable