Four-Unit Coastal
New
For Sale
$1,800,000
175 Beach 113th Street, Queens, NY 11694
MULTI_FAMILY - Queens, NY
Property Size3,750 SF
Lot Size0.09 Acres
Price / SF$480
Days on Market2
Property Features for 175 Beach 113th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5A
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 5, Bathroom 3
Interior features
A/C Unit - Wall, Dishwasher, Fireplace, Laundry Area, Microwave, Refrigerator, Stove, Washer, Window Treatments
Fireplace
1
Subdivision
Rockaway Park
Standard status
Active
Size
3,750 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
14828
Building Details
Floors in Building
3
Number of units
4
Flooring type
Carpet, Ceramic
Building materials
Block, Brick
Roof type
Shingle
Listing Agency:
RE/MAX Elite
(718) 690-3900
Listed By:
Melissa M. Carrington · License #10491209088
(718) 690-3900
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 5:06PM
MLS# 503683
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit property at 175 Beach 113th Street contains 3,750 square feet across three residential levels. The first floor includes a two-bedroom, 2.5-bath residence, while the second floor contains two one-bedroom, one-bath apartments. A two-bedroom, one-bath penthouse occupies the third floor and includes high ceilings and ocean views. All four residences feature stone countertops, updated cabinetry, tiled bathrooms, plate-glass shower doors, and Marvin double-hung windows with custom wood window boxes. The building is constructed with brick and block, with 3/4-inch plywood sheathing and interior spray insulation. Wall A/C sleeves serve the tenant apartments, and the property includes five electric meters and four gas meters. The 0.0918-acre site is near the ocean and Rockaway Boardwalk. Interior features include dishwashers, refrigerators, stoves, laundry areas, and a fireplace.
Key Highlights
- Four‑unit layout with two‑bedroom, 2.5‑bath owner residence, two one‑bedroom apartments, and a two‑bedroom penthouse
- 3,750 square feet across three residential levels
- Five electric meters and four gas meters support separate utility tracking
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
$91,667
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
5.09%
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%
$1,833,340
$1.8M
Cap Rate 7%
$1,309,529
$1.3M
Cap Rate 9%
$1,018,522
$1.0M
Market Conditions
NOI Build-Up for 3,750 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
$173.3K $46.20/SF
− Vacancy
−$6.6K −$1.76/SF
EGI
$166.7K $44.44/SF
− OpEx
−$75.0K −$20.00/SF
NOI
$91.7K $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 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%
$1,833,340
Cap Rate 7%
$1,309,529
Cap Rate 9%
$1,018,522
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,667 @ 7.0% cap · market cap 5.09%
Second Best
Multifamily LT 5
$886.7K
$775.9K – $1.03M
NOI $62,069 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$2.76M
$2.42M – $3.23M
NOI $193,518 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Explore this area
Business Placement
Demographics for 11694, NY
19,780
Population
9,103
Households
2.2
Avg Household Size
46
Median Age
43%
College-Educated
90%
High-School Grad
1.7 sq mi
ZIP Area
11,635
Density / Sq Mi
$103,792
Median Household Income
$65,602
Median Earnings
$1,787
Median Rent
$839,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences offer varied layouts, updated interiors, and separately metered utilities near the oceanfront boardwalk.
Where is this quadplex located?
The property is located at 175 Beach 113th Street Queens, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Four‑unit layout with two‑bedroom, 2.5‑bath owner residence, two one‑bedroom apartments, and a two‑bedroom penthouse; 3,750 square feet across three residential levels; Five electric meters and four gas meters support separate utility tracking
