Two-Family Duplex with Finished
For Sale
$999,000
2437 Beach Channel Drive, Far Rockaway, NY 11691
The 2021-built residence includes a garage and a two-unit layout suited to owner occupancy or rental use.
Property Size2,484 SF
Lot Size0.07 Acres
Price / SF$402.17
Days on Market19
Property Features for 2437 Beach Channel Drive
General Information
Standard status
Active
Size
2,484 SF
Lot size
0.07 Acres
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,584
Amenities
First Floor Bedroom
Open Kitchen
Other
Master Downstairs
Building Details
Building Size
2,484 SF
Year Built
2021
Units
2
Listing Agency:
Prospes Real Estate Corp
(718) 321-2800
Listed By:
Huanyan Li · License #10401267841
(347) 885-8668
Source:
Jwsrealtygroup
Added: Oct 13
Changed: Oct 29
Last Checked: Oct 29 at 2:55PM
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 Prospes Real Estate Corp
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Investment Insights
Based on property information with market context.
This two-family duplex, completed in 2021, contains 6 bedrooms and 5 full bathrooms across approximately 2,484 square feet. The property occupies a 3,087-square-foot lot and includes two residential units, a fully finished basement, and a garage. The source describes the home as being in excellent condition.
Situated on Beach Channel Drive in Far Rockaway, the property is near shopping, schools, restaurants, and public transportation. Annual property taxes are approximately $9,584.
Situated on Beach Channel Drive in Far Rockaway, the property is near shopping, schools, restaurants, and public transportation. Annual property taxes are approximately $9,584.
Key Highlights
- Two residential units with 6 bedrooms and 5 full bathrooms
- Built in 2021
- Approximately 2,484 square feet of living space on a 3,087‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,720
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,214,400
$1.2M
Cap Rate 7%
$867,429
$867.4K
Cap Rate 9%
$674,667
$674.7K
Market Conditions
NOI Build-Up for 2,484 SF
Gross rent
$114.8K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$110.4K $44.44/SF
− OpEx
−$49.7K −$20.00/SF
NOI
$60.7K $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%
$1,214,400
Cap Rate 7%
$867,429
Cap Rate 9%
$674,667
Alternative Uses
Best Use
Apartment 5plus
$867.4K
$759.0K – $1.01M
NOI $60,720 @ 7.0% cap · market cap 6.08%
Second Best
Multifamily LT 5
$587.3K
$513.9K – $685.2K
NOI $41,114 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,186 @ 7.0% cap · market cap 12.83%
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
1,859
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 - The 2021-built residence includes a garage and a two-unit layout suited to owner occupancy or rental use.
Where is this duplex located?
The property is located at 2437 Beach Channel Drive Far Rockaway, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two residential units with 6 bedrooms and 5 full bathrooms; Built in 2021; Approximately 2,484 square feet of living space on a 3,087‑square‑foot lot
