Multifamily Property with
New
For Sale
$1,199,000
121 W Chester Street, Long Beach, NY 11561
Recently renovated residences include a finished basement, backyard, garage, and driveway parking.
Property Size3,398 SF
Lot Size0.14 Acres
Price / SF$352.85
Days on Market5
Property Features for 121 W Chester Street
General Information
Standard status
Active
Size
3,398 SF
Lot size
0.14 Acres
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$17,862
Amenities
backyard
garage
driveway
private balcony
finished basement
Finished,Full
4
Yes
6
First Floor Bedroom,Open Floorplan
Finished, Full
Public
5
No
Driveway, Garage
3398
Building Details
Building Size
3,398 SF
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Last Checked: Nov 4 at 7:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Geralda Desir
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Investment Insights
Based on property information with market context.
This Long Beach multifamily property has recently renovated interiors across three floors, plus a finished basement. The first floor spans approximately 1,234 square feet with three bedrooms, two full bathrooms, a kitchen, and a living room. The second floor includes two bedrooms, two bathrooms, and a private balcony within approximately 862 square feet. A finished basement adds approximately 830 square feet, while the third floor provides approximately 472 square feet of finished space.
The property occupies a 6,000-square-foot lot measuring 60 by 100 feet. Exterior features include a large backyard, a garage, and a driveway with multiple parking spaces. Local shops, the LIRR train station, the beach, and the boardwalk are nearby.
The property occupies a 6,000-square-foot lot measuring 60 by 100 feet. Exterior features include a large backyard, a garage, and a driveway with multiple parking spaces. Local shops, the LIRR train station, the beach, and the boardwalk are nearby.
Key Highlights
- Recently renovated; finished space on three floors plus a finished basement
- First floor: approximately 1,234 SF, 3 bedrooms, and 2 full bathrooms
- Second floor: approximately 862 SF, 2 bedrooms, 2 bathrooms, and a private balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,612
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,240
$1.2M
Cap Rate 7%
$865,886
$865.9K
Cap Rate 9%
$673,467
$673.5K
Market Conditions
NOI Build-Up for 3,398 SF
Gross rent
$115.4K $33.96/SF
− Vacancy
−$5.2K −$1.53/SF
EGI
$110.2K $32.43/SF
− OpEx
−$49.6K −$14.59/SF
NOI
$60.6K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,240
Cap Rate 7%
$865,886
Cap Rate 9%
$673,467
Alternative Uses
Best Use
Apartment 5plus
$865.9K
$757.7K – $1.01M
NOI $60,612 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.62M
NOI $157,268 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,682
Businesses Nearby
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Business Placement
Demographics for 11561, NY
39,132
Population
18,442
Households
2.1
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
4.0 sq mi
ZIP Area
9,783
Density / Sq Mi
$132,903
Median Household Income
$72,221
Median Earnings
$2,462
Median Rent
$676,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Recently renovated residences include a finished basement, backyard, garage, and driveway parking.
Where is this multifamily property located?
The property is located at 121 W Chester Street Long Beach, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Recently renovated; finished space on three floors plus a finished basement; First floor: approximately 1,234 SF, 3 bedrooms, and 2 full bathrooms; Second floor: approximately 862 SF, 2 bedrooms, 2 bathrooms, and a private balcony
