Beachfront Duplex with Private
For Sale
$1,150,000
Pending
153 Beach 5th Street, Far Rockaway, NY 11691
Two residences pair a two-bedroom lower home with an upper residence arranged across three levels.
Property Size4,800 SF
Days on Market11
Property Features for 153 Beach 5th Street
General Information
Standard status
Pending
Size
4,800 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,267
Amenities
private balconies
rooftop terrace
private dock
beach access
garage
storage rooms
4
No
5
First Floor Bedroom,Double Vanity,High Ceilings,Marble Counters,Open Floorplan,Primary Bathroom
Public
Private, Attached
Dock,Private Roof
Building Details
Year Built
2017
Listing Agency:
(516) 703-2918
Listed By:
Michael Giordano
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 4:05PM
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 Michael Giordano
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Investment Insights
Based on property information with market context.
Built in 2017, this 4,800-square-foot duplex contains two distinct residences. The lower unit has two bedrooms, a bathroom, an open living and kitchen area, and a Bosch washer-dryer. The upper home spans three levels, with living, dining, and kitchen areas on the main floor, an additional room, and three or four bedrooms, including a primary suite with an en-suite bathroom. Balconies and a rooftop terrace provide outdoor space and coastline views. A garage and two storage rooms are also included.
The property is situated on the beach and includes beach access and a private dock. Its two-residence configuration is complemented by the separate layouts and outdoor areas of each home.
The property is situated on the beach and includes beach access and a private dock. Its two-residence configuration is complemented by the separate layouts and outdoor areas of each home.
Key Highlights
- 4,800‑square‑foot duplex built in 2017
- Two residences: a two‑bedroom lower unit and an upper home with three or four bedrooms
- Upper residence is arranged across three levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,448
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,588,960
$1.6M
Cap Rate 7%
$1,134,971
$1.1M
Cap Rate 9%
$882,756
$882.8K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$121.0K $25.20/SF
− Vacancy
−$7.5K −$1.55/SF
EGI
$113.5K $23.65/SF
− OpEx
−$34.0K −$7.09/SF
NOI
$79.4K $16.55/SF
Area
Queens County, NY
Vacancy
6.17%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,588,960
Cap Rate 7%
$1,134,971
Cap Rate 9%
$882,756
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,333 @ 7.0% cap · market cap 10.20%
Second Best
Multifamily LT 5
$1.13M
$993.1K – $1.32M
NOI $79,448 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,703 @ 7.0% cap · market cap 21.54%
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 pair a two-bedroom lower home with an upper residence arranged across three levels.
Where is this duplex located?
The property is located at 153 Beach 5th Street Far Rockaway, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4,800‑square‑foot duplex built in 2017; Two residences: a two‑bedroom lower unit and an upper home with three or four bedrooms; Upper residence is arranged across three levels
