Duplex with Rooftop
For Sale
$1,499,000
Pending
144 Beach 5th Street, Far Rockaway, NY 11691
Two residences offer distinct layouts, including a three-level upper home and a separate lower residence.
Property Size3,942 SF
Days on Market12
Property Features for 144 Beach 5th Street
General Information
Standard status
Pending
Size
3,942 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,970
Amenities
private balconies
rooftop terrace
dock
beach access
garage
storage rooms
in-unit washer-dryer
4
No
6
Open Floorplan
Public
Yes
Driveway, Garage
3942
Building Details
Building Size
3,942 SF
Year Built
2017
Listing Agency:
Five Towns Miller Realty Inc
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 3:02PM
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 Five Towns Miller Realty Inc
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Investment Insights
Based on property information with market context.
This 3,942-square-foot duplex contains two residences with different layouts. The lower home has two bedrooms, a bathroom, an open living and kitchen area, and a Bosch washer-dryer. The upper residence spans three levels, with a main-floor living, dining, and kitchen area, an additional room, and three or four bedrooms, including a primary suite with an en-suite bathroom. Private balconies and a rooftop terrace provide outdoor space with ocean views. The property was built in 2017 and includes a garage and two storage rooms.
The property is situated on the beach and has access to a dock and beach. Its location is 144 Beach 5th Street in Far Rockaway, New York.
The property is situated on the beach and has access to a dock and beach. Its location is 144 Beach 5th Street in Far Rockaway, New York.
Key Highlights
- 3,942‑square‑foot duplex with two residences
- Lower residence includes two bedrooms and an open living and kitchen area
- Upper residence has a three‑level layout with three or four bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,360
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,927,200
$1.9M
Cap Rate 7%
$1,376,571
$1.4M
Cap Rate 9%
$1,070,667
$1.1M
Market Conditions
NOI Build-Up for 3,942 SF
Gross rent
$182.1K $46.20/SF
− Vacancy
−$6.9K −$1.76/SF
EGI
$175.2K $44.44/SF
− OpEx
−$78.8K −$20.00/SF
NOI
$96.4K $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 Rate 5%
$1,927,200
Cap Rate 7%
$1,376,571
Cap Rate 9%
$1,070,667
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.20M – $1.61M
NOI $96,360 @ 7.0% cap · market cap 6.43%
Second Best
Multifamily LT 5
$932.1K
$815.6K – $1.09M
NOI $65,246 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$2.91M
$2.54M – $3.39M
NOI $203,426 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
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Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer distinct layouts, including a three-level upper home and a separate lower residence.
Where is this duplex located?
The property is located at 144 Beach 5th Street Far Rockaway, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 3,942‑square‑foot duplex with two residences; Lower residence includes two bedrooms and an open living and kitchen area; Upper residence has a three‑level layout with three or four bedrooms
