| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 55th | Fair |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5620 Marathon Pkwy, Little Neck, NY, 11362, US |
| Region / Metro | Little Neck |
| Year of Construction | 1977 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5620 Marathon Pkwy Little Neck Multifamily Investment
Positioned in an owner-leaning Queens neighborhood with stable occupancy, this 54-unit asset can benefit from durable renter demand supported by elevated ownership costs, according to WDSuite’s CRE market data. The location favors steady leasing with room for value optimization rather than outsized growth claims.
Little Neck functions as an inner-suburban pocket within the New York–Jersey City–White Plains metro, offering neighborhood-level stability more than urban buzz. Parks access stands out as a relative strength (top quartile nationally), while everyday amenities such as restaurants and groceries are present but not a major draw compared with core Queens corridors. Cafes and pharmacies are thinner locally, which tilts the area toward residential quiet rather than destination retail.
Schools average around 3.0 out of five and sit modestly above national medians, which supports family-oriented housing demand without commanding premium pricing. Median household incomes rank above the U.S. midpoint, indicating capacity to support market rents while still requiring disciplined lease management.
The neighborhood’s renter concentration is relatively low (about 28% of housing units are renter-occupied), suggesting an owner-leaning housing stock. For multifamily investors, this typically means a defined but dependable tenant base rather than deep turnover velocity—especially in a high-cost ownership context where elevated home values sustain reliance on rentals.
Within a 3-mile radius, demographics show a steady foundation: recent years reflect flat population with a small increase in households, and WDSuite’s CRE market data indicates projections for additional household growth alongside smaller average household sizes. That combination generally supports multifamily demand by broadening the tenant base even if population growth is modest.
Vintage dynamics also matter: the property’s 1980 construction is newer than the neighborhood’s average vintage from the early 1970s, offering a relative competitive edge versus older stock. Investors should still plan for modernization of aging systems and interior refreshes to sharpen positioning against newer deliveries elsewhere in the borough.
Safety metrics for the immediate neighborhood track below national medians, indicating comparatively higher reported offense rates than many U.S. neighborhoods. However, recent-year trends indicate declines in both property and violent offenses, which is a constructive directional signal rather than a guarantee. As always, underwriting should account for security line items and resident experience initiatives consistent with New York metro norms.
Relative to the broader region, this area is not among the top-performing quartile for safety, but the year-over-year improvement trend suggests conditions have been easing. Investors typically address this through on-site management practices, lighting and access control, and vendor partnerships common to urban-adjacent assets.
Proximity to diversified employers underpins commuter convenience and helps sustain renter demand. Nearby anchors include Prudential, JetBlue Airways, Lockheed Martin, Loews, and Citigroup, providing a mix of finance, aviation, defense, hospitality, and banking roles within a reasonable commute.
- Prudential — insurance & financial services (8.96 miles)
- Jetblue Airways — aviation (10.87 miles) — HQ
- Lockheed Martin — defense & aerospace offices (12.48 miles)
- Loews — hospitality & holdings (12.52 miles) — HQ
- Citigroup — banking & financial services (12.57 miles) — HQ
This 54-unit, 1980-vintage asset competes well against older neighborhood stock while benefiting from an owner-leaning submarket where elevated home values tend to reinforce rental demand and support occupancy stability. Neighborhood rents sit on the higher side for Queens, but rent-to-income levels point to manageable affordability pressure when paired with disciplined renewal strategies, based on CRE market data from WDSuite.
Within a 3-mile radius, households have increased and are projected to grow further even as average household size trends lower—an investor-friendly setup that broadens the renter pool. Local amenities skew residential with strong park access and adequate daily services; while not a retail destination, this profile aligns with steady, needs-based tenancy. Key watchpoints include below-median safety metrics and select amenity gaps, which can be mitigated through property operations and targeted capital plans.
- 1980 construction offers relative competitiveness versus older nearby stock, with targeted modernization potential
- Owner-leaning neighborhood and elevated ownership costs support durable multifamily demand and retention
- 3-mile household growth and smaller household sizes expand the renter base and support occupancy
- Risks: below-national-median safety and thinner amenity mix; address via operations, security, and selective capex