Two-Family Home with Rooftop
For Sale
$1,350,000
138 Beach 74th Street, Arverne, NY 11692
Four finished floors provide flexible living space with ocean views and a private backyard.
Property Size2,970 SF
Days on Market65
Property Features for 138 Beach 74th Street
General Information
Standard status
Active
Size
2,970 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,203
Amenities
rooftop deck
private backyard
Building Details
Building Size
2,970 SF
Year Built
2003
Buildings
1
Stories
4
Units
2
Listing Agency:
Charles Rutenberg Realty Inc
(516) 575-7500
Listed By:
Monika M. Krynska SFR
(516) 575-7500
Source:
Maurafinnegan
Added: Jun 29
Changed: Aug 30
Last Checked: Aug 31 at 5:10PM
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 Charles Rutenberg Realty Inc
Investment Insights
Based on property information with market context.
Built in 2003, this two-family home is arranged across four fully finished floors and includes flexible interior living areas suited to multi-generational use or separate household arrangements. Ocean views, a rooftop deck, and a private backyard extend the property’s usable space beyond the interior.
The home is located in the Arverne by the Sea community, with the beach, boardwalk, parks, restaurants, shopping, and public transportation nearby. Its two-family configuration and multiple outdoor areas provide a combination of residential versatility and coastal access.
The home is located in the Arverne by the Sea community, with the beach, boardwalk, parks, restaurants, shopping, and public transportation nearby. Its two-family configuration and multiple outdoor areas provide a combination of residential versatility and coastal access.
Key Highlights
- Two‑family home built in 2003
- Four fully finished floors
- Ocean views
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,600
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,452,000
$1.5M
Cap Rate 7%
$1,037,143
$1.0M
Cap Rate 9%
$806,667
$806.7K
Market Conditions
NOI Build-Up for 2,970 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$137.2K $46.20/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$132.0K $44.44/SF
− OpEx
−$59.4K −$20.00/SF
NOI
$72.6K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,452,000
Cap Rate 7%
$1,037,143
Cap Rate 9%
$806,667
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.5K – $1.21M
NOI $72,600 @ 7.0% cap · market cap 5.38%
Second Best
Multifamily LT 5
$702.3K
$614.5K – $819.3K
NOI $49,158 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$2.19M
$1.92M – $2.55M
NOI $153,266 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
Explore this area
Business Placement
Demographics for 11692, NY
22,776
Population
8,475
Households
2.7
Avg Household Size
36
Median Age
27%
College-Educated
86%
High-School Grad
1.0 sq mi
ZIP Area
22,776
Density / Sq Mi
$49,507
Median Household Income
$39,737
Median Earnings
$1,274
Median Rent
$650,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Four finished floors provide flexible living space with ocean views and a private backyard.
Where is this duplex located?
The property is located at 138 Beach 74th Street Arverne, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two‑family home built in 2003; Four fully finished floors; Ocean views
