Renovated Two-Family
For Sale
$849,000
423 Beach 63rd Street, Arverne, NY 11692
Separate owner and rental layouts provide flexible occupancy with an additional residential unit.
Property Size1,932 SF
Days on Market21
Property Features for 423 Beach 63rd Street
General Information
Standard status
Active
Size
1,932 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,895
Building Details
Building Size
1,932 SF
Year Built
1940
Buildings
1
Units
2
Listing Agency:
Keystone Realty USA Corp
(347) 419-5268
Listed By:
Gabriel Kashi
(347) 419-5268
Source:
Cohenandcohenrealty
Added: Jul 16
Changed: Aug 5
Last Checked: Aug 5 at 5:51AM
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 Keystone Realty USA Corp
Investment Insights
Based on property information with market context.
This two-family duplex, built in 1940, combines an owner-occupied upper residence with a separate lower above-ground rental. The owner’s unit includes 3 bedrooms, 1 bath, a formal living area, dining space, and a kitchen with floor-to-ceiling custom cabinetry and stainless steel appliances. A dedicated laundry and storage room is located downstairs. The rental unit offers 2 bedrooms and 2 full baths.
Recent improvements include select wood flooring, recessed lighting, and updated electrical, heating, and plumbing systems. The property is located near Beach Channel Drive, Thursby Avenue, and Rockaway Beach Boulevard, with schools, shopping centers, restaurants, cafes, parks, and other neighborhood amenities within short blocks.
Recent improvements include select wood flooring, recessed lighting, and updated electrical, heating, and plumbing systems. The property is located near Beach Channel Drive, Thursby Avenue, and Rockaway Beach Boulevard, with schools, shopping centers, restaurants, cafes, parks, and other neighborhood amenities within short blocks.
Key Highlights
- Two‑family duplex with separate owner and rental residences
- Owner’s unit includes 3 bedrooms and 1 bath
- Lower above‑ground rental offers 2 bedrooms and 2 full baths
Financial Insights For Apartment 5plus
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 | $89.3k | $46.20 |
| − Vacancy | −$3.4k | −$1.76 |
| EGI | $85.9k | $44.44 |
| − OpEx | −$38.6k | −$20.00 |
| NOI | $47.2k | $24.44 |
1,932 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$674.7K
$590.3K – $787.1K
NOI $47,227 @ 7.0% cap · market cap 5.56%
Second Best
Multifamily LT 5
$456.8K
$399.7K – $533.0K
NOI $31,978 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,700 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 11692, NY
22,776
Population
8,475
Households
2.7
Avg Household Size
36
Median Age
27%
College-Educated
86%
High-School Grad
1.0 sq mi
ZIP Area
22,776
Density / Sq Mi
$49,507
Median Household Income
$39,737
Median Earnings
$1,274
Median Rent
$650,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate owner and rental layouts provide flexible occupancy with an additional residential unit.
Where is this duplex located?
The property is located at 423 Beach 63rd Street Arverne, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two‑family duplex with separate owner and rental residences; Owner’s unit includes 3 bedrooms and 1 bath; Lower above‑ground rental offers 2 bedrooms and 2 full baths
