9-Bedroom Triplex
For Sale
$729,900
Pending
29-55 Far Rockaway Boulevard, Far Rockaway, NY 11691
Three full bathrooms and driveway parking support the property's residential configuration.
Property Size2,672 SF
Days on Market13
Property Features for 29-55 Far Rockaway Boulevard
General Information
Standard status
Pending
Size
2,672 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,912
Amenities
Formal Dining Room
Eat In Kitchen
Driveway Parking
First Floor Bedroom
First Floor Full Bath
Eat-in Kitchen
Formal Dining
Soaking Tub
Building Details
Building Size
2,672 SF
Year Built
1910
Units
3
Listing Agency:
Island Advantage Realty LLC
Listed By:
Todd A. Yovino · License #49YO0956714
(631) 351-6000
Source:
Georgemcknight
Added: Oct 19
Changed: Oct 26
Last Checked: Oct 29 at 10:08PM
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 Island Advantage Realty LLC
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Investment Insights
Based on property information with market context.
This triplex property contains 9 bedrooms and 3 full baths, with a formal dining room and an eat-in kitchen. Driveway parking is also part of the property. The building dates to 1910 and encompasses 2,672 square feet.
Located at 29-55 Far Rockaway Boulevard in Far Rockaway, the property is a residential income asset with a three-unit configuration.
Located at 29-55 Far Rockaway Boulevard in Far Rockaway, the property is a residential income asset with a three-unit configuration.
Key Highlights
- 9 bedrooms and 3 full baths
- Formal dining room and eat‑in kitchen
- Driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,315
Cap Rate
8.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,306,300
$1.3M
Cap Rate 7%
$933,071
$933.1K
Cap Rate 9%
$725,722
$725.7K
Market Conditions
NOI Build-Up for 2,672 SF
Gross rent
$123.4K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$118.8K $44.44/SF
− OpEx
−$53.4K −$20.00/SF
NOI
$65.3K $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%
$1,306,300
Cap Rate 7%
$933,071
Cap Rate 9%
$725,722
Alternative Uses
Best Use
Apartment 5plus
$933.1K
$816.4K – $1.09M
NOI $65,315 @ 7.0% cap · market cap 8.95%
Second Best
Multifamily LT 5
$631.8K
$552.8K – $737.1K
NOI $44,226 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,888 @ 7.0% cap · market cap 18.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,763
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?
Triplex - Three full bathrooms and driveway parking support the property's residential configuration.
Where is this triplex located?
The property is located at 29-55 Far Rockaway Boulevard Far Rockaway, NY.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: 9 bedrooms and 3 full baths; Formal dining room and eat‑in kitchen; Driveway parking
