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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
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.
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 Under Contract
| 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 | Opportunity Zone |
Yes
|
| 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 |
| 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 |
| 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 | - |
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Moderately walkable
70/100
Fairly drivable
40/100
Good public transit
60/100
Very bikeable
80/100
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)
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