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228 & 230 Beach 32nd Street 228 Beach 32nd St 6 Unit Apartment Building $2,100,000 ($350,000/Unit) 9.35% Cap Rate Far Rockaway, NY 11691

Apartment Buildings New York Far Rockaway 228 Beach 32nd St, Far Rockaway, NY 11691

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Investment Highlights

  • FULL BRICK YOUNG CONSTRUCTION
  • Adjacent Properties!
  • Individual Electric & Gas Meters!
  • Private Driveways!

Executive Summary

228 & 230 Beach 32nd Street | Sold as a Package
Two contiguous, fully brick, 3-story buildings , young construction.
All utilities paid directly by tenants.
Excellent curb appeal.

Financial Summary (Actual - 2025)

Annual Annual Per SF
Gross Rental Income $230,976 $41.84
Other Income - -
Vacancy Loss - -
Effective Gross Income $230,976 $41.84
Taxes - -
Operating Expenses - -
Total Expenses $34,634 $6.27
Net Operating Income $196,342 $35.57

Financial Summary (Actual - 2025)

Gross Rental Income
Annual $230,976
Annual Per SF $41.84
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $230,976
Annual Per SF $41.84
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $34,634
Annual Per SF $6.27
Net Operating Income
Annual $196,342
Annual Per SF $35.57

Property Facts

Price $2,100,000 Building Class C
Price Per Unit $350,000 Lot Size 0.08 AC
Sale Type Investment Building Size 5,520 SF
Cap Rate 9.35% Average Occupancy 50%
Sale Condition Bulk/Portfolio Sale No. Stories 3
No. Units 6 Year Built/Renovated 2004/2025
Property Type Multifamily Parking Ratio 0.36/1,000 SF
Property Subtype
Apartment
  • Multifamily Apartments
 Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style Low-Rise
Zoning R5
Price $2,100,000
Price Per Unit $350,000
Sale Type Investment
Cap Rate 9.35%
Sale Condition Bulk/Portfolio Sale
No. Units 6
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Apartments
Apartment Style Low-Rise
Building Class C
Lot Size 0.08 AC
Building Size 5,520 SF
Average Occupancy 50%
No. Stories 3
Year Built/Renovated 2004/2025
Parking Ratio 0.36/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning R5

Amenities

Unit Amenities

  • Yard
  • Lawn

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+1 4 $3,753 -
2+1 2 $2,997 -
1 1
Moderately walkable
70/100
Fairly drivable
40/100
Good public transit
60/100
Very bikeable
80/100
Source: Local Logic®

Property Taxes

Parcel Number 15807-0010 Improvements Assessment $24,361 (2026)
Land Assessment $3,114 (2026) Total Assessment $27,475 (2026)

Property Taxes

Parcel Number
15807-0010
Land Assessment
$3,114 (2026)
Improvements Assessment
$24,361 (2026)
Total Assessment
$27,475 (2026)
(973) 873-8444

Still interested?

Contact the brokers for more information about this property

Contacts

  • Avraham Birnbaum
    Avraham Birnbaum
  • Liron Iskhakbayev
    Liron Iskhakbayev

  • Listing ID: 40835050

  • Date on Market: 6/8/2026

  • Last Updated:

  • Address: 228 Beach 32nd St, Far Rockaway, NY 11691

The Far Rockaway Multifamily Property at 228 Beach 32nd St, Far Rockaway, NY 11691 is currently available. Contact Twelve Stones Realty LLC for more information.

MULTIFAMILY PROPERTIES IN NEARBY NEIGHBORHOODS

NEARBY LISTINGS

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228 & 230 Beach 32nd Street | 228 Beach 32nd St
(973) 873-8444 x

228 & 230 Beach 32nd Street | 228 Beach 32nd St

Avraham Birnbaum
(973) 873-8444

Liron Iskhakbayev
(347) 876-9337

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