Duplex with Rooftop
New
For Sale
$1,399,000
Pending
162 Beach 5th Street, Far Rockaway, NY 11691
Two residences offer separate layouts with access to a private beach and dock.
Property Size1,788 SF
Days on Market6
Property Features for 162 Beach 5th Street
General Information
Standard status
Pending
Size
1,788 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA lower unit, 1 x 3-4BR/1BA upper unit
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,809
Amenities
private beach
dock
private balconies and rooftop terrace
garage
storage rooms
Walk-Out Access
4
No
5
Kitchen Island
Public
Yes
Private, Attached
Dock
Building Details
Year Built
2017
Listing Agency:
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 26
Changed: Oct 29
Last Checked: Oct 28 at 4:20PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2017 duplex contains two residences with distinct floor plans. The lower unit has two bedrooms, a bathroom, an open living and kitchen area, and a Bosch washer-dryer. The upper residence spans three levels, with a living, dining, and kitchen area, an additional room, and three or four bedrooms, including a primary suite with an en-suite bathroom. Both homes feature private outdoor areas, and the upper residence includes a rooftop terrace. A garage and two storage rooms provide additional on-site space.
The property is situated on the beach and includes access to a private beach and dock. Balconies and rooftop space offer ocean views. Contemporary design is credited to architect CetraRuddy; the kitchens feature double sinks, marble counters and backsplash, and Porcelanosa fixtures.
The property is situated on the beach and includes access to a private beach and dock. Balconies and rooftop space offer ocean views. Contemporary design is credited to architect CetraRuddy; the kitchens feature double sinks, marble counters and backsplash, and Porcelanosa fixtures.
Key Highlights
- Two residences with distinct layouts
- Lower unit includes 2 bedrooms and an open living and kitchen area
- Upper residence spans 3 levels and has 3 or 4 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,707
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$874,140
$874.1K
Cap Rate 7%
$624,386
$624.4K
Cap Rate 9%
$485,633
$485.6K
Market Conditions
NOI Build-Up for 1,788 SF
Gross rent
$82.6K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$79.5K $44.44/SF
− OpEx
−$35.8K −$20.00/SF
NOI
$43.7K $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%
$874,140
Cap Rate 7%
$624,386
Cap Rate 9%
$485,633
Alternative Uses
Best Use
Apartment 5plus
$624.4K
$546.3K – $728.5K
NOI $43,707 @ 7.0% cap · market cap 3.12%
Second Best
Multifamily LT 5
$422.8K
$369.9K – $493.2K
NOI $29,594 @ 7.0% cap · market cap 2.12%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,269 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer separate layouts with access to a private beach and dock.
Where is this duplex located?
The property is located at 162 Beach 5th Street Far Rockaway, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Two residences with distinct layouts; Lower unit includes 2 bedrooms and an open living and kitchen area; Upper residence spans 3 levels and has 3 or 4 bedrooms
