Legal Two-Family
20 East Pine Street Long Beach, NY 11561
20 East Pine Street, Long Beach, NY, 11561
$919,999
For Sale
$919,999
Legal two-family with two-car garage, basement with separate entrance, and two updated units generating current rental income.
Property Size2,304 SF
Price / SF$399.31
Days on Market11
Property Features for 20 East Pine Street
General Information
- Standard status
- Active
- Size
- 2,304 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1988
Listing agency
Fave Realty Inc
(516) 519-8049
Listed by
Andrew Panton · License #10301223695
(516) 519-8049
Source
Compass
Added: Jul 12 Updated: Jul 22 at 10:59AM Checked: Jul 22 at 10:59AM
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 Fave Realty Inc
Investment Insights
Based on property information with market context.
This legal two-family home offers two income-producing units with separate living configurations. Each unit includes 3 bedrooms and 1.5 bathrooms, with spacious rooms and ample closet and storage space. The property also includes a two-car garage and a basement with bonus space and a separate entrance, along with a new rear deck.
Both units are currently occupied. The first-floor unit is leased in place through October 31, 2026, and the second-floor unit operates on a month-to-month tenancy. Updates include the roof, windows, boiler, and hot water heater, completed approximately 10–15 years ago. The home is located minutes from the beach and close to shopping, restaurants, parks, bars, and public transportation.
The current gross rental income is reported at $5,400 per month ($64,800 annually).
Both units are currently occupied. The first-floor unit is leased in place through October 31, 2026, and the second-floor unit operates on a month-to-month tenancy. Updates include the roof, windows, boiler, and hot water heater, completed approximately 10–15 years ago. The home is located minutes from the beach and close to shopping, restaurants, parks, bars, and public transportation.
The current gross rental income is reported at $5,400 per month ($64,800 annually).
Key Highlights
- Legal two‑family home currently generating $5,400/month in gross rental income ($64,800 annually)
- First‑floor unit lease in place through October 31, 2026; second‑floor unit occupied on a month‑to‑month tenancy
- Each unit features 3 bedrooms and 1.5 bathrooms with ample closet and storage space
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.4k | $28.80 |
| − Vacancy | −$3.6k | −$1.58 |
| EGI | $62.7k | $27.22 |
| − OpEx | −$18.8k | −$8.16 |
| NOI | $43.9k | $19.05 |
2,304 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$627.1K
$548.7K – $731.6K
NOI $43,894 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$587.1K
$513.7K – $685.0K
NOI $41,098 @ 7.0% cap · market cap 4.47%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,635 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Legal two-family with two-car garage, basement with separate entrance, and two updated units generating current rental income.
Where is this duplex located?
The property is located at 20 East Pine Street Long Beach, NY.
What is the asking price?
The asking price for this property is $919,999.
What are key features of this property?
This property features: Legal two‑family home currently generating $5,400/month in gross rental income ($64,800 annually); First‑floor unit lease in place through October 31, 2026; second‑floor unit occupied on a month‑to‑month tenancy; Each unit features 3 bedrooms and 1.5 bathrooms with ample closet and storage space
