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    638 Grassmere Ter Far Rockaway, NY 11691

    For Sale
    $998,000

    Three-family property near Rockaway Beach with upside rental income potential.

    Lot size:
    0.03 Acres

    Property Features for 638 Grassmere Ter

    General Information

    Lot size
    0.03 Acres

    Building Details

    Year built
    2005

    Source: Brooklyn New York MLS Agent NON MEMBER

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Three-Family Property Near Rockaway Beach

    This three-family property, constructed of brick in 2005 in the Colonial style, is located minutes from Rockaway Beach and the Boardwalk. Situated on a 1,455 square foot lot (20.5 X 71) , the property features a total living area of 3,444 square feet and a total area of 1,148 square feet. The interior includes 9 bedrooms, 6 bathrooms, and 21 total rooms. The kitchens feature an eat-in area, oven/range, and refrigerator. Hardwood flooring is present throughout. Heating is provided by natural gas and hot water. The property also has a full unfinished basement. Located in Queens, the property is part of Elementary School District 29, High School District 29, and Middle or Junior School District 29. The annual tax amount is $7,449. All tenants are currently on month-to-month leases, offering potential for increased rental income.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Far Rockaway
    County
    Queens
    State
    New York
    Longitude
    -73.757682
    Latitude
    40.601098

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    FAQs

    What type of property is this?
    Triplex - Three-family property near Rockaway Beach with upside rental income potential.
    Where is this triplex located?
    The property is located at 638 Grassmere Ter Far Rockaway, NY.
    What is the asking price?
    The asking price for this property is $998,000.
    What are key features of this property?
    This property features: - Excellent investment opportunity with good upside rental income potential.; - Located minutes from Rockaway Beach and the Boardwalk.; - Three-family property built in 2005.
    (718) 253-8815
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    638 Grassmere Ter Far Rockaway, NY 11691
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    Far Rockaway, NY 11691
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    638 Grassmere Ter Far Rockaway, NY 11691
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