Renovated Two-Family
448 Beach 64th Street, Arverne, NY 11692
For Sale
$779,000
Separate residential units include one occupied apartment and a vacant second-floor residence.
Property Size2,016 SF
Price / SF$386.41
Days on Market18
Property Features for 448 Beach 64th Street
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
First Floor Bedroom
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Royal Realty Group Inc
Listed By:
Hanan Sheleg
(347) 444-8520
Source:
Georgemcknight
Added: Oct 23
Changed: Nov 7
Last Checked: Nov 8 at 8:59PM
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 Royal Realty Group Inc
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Investment Insights
Based on property information with market context.
At 448 Beach 64th Street in Arverne, this renovated duplex contains 2,016 square feet and dates to 1940. The first-floor apartment is occupied, while the second-floor unit is vacant. Each residence has its own living area, with updated kitchens and bathrooms, modern cabinetry, and stainless steel appliances. Interior finishes include hardwood and tile flooring, and the rooms receive natural light. A private driveway serves the property.
Transportation, shopping, schools, and local services are nearby. The two-unit configuration combines an occupied apartment with a separate vacant residence.
Transportation, shopping, schools, and local services are nearby. The two-unit configuration combines an occupied apartment with a separate vacant residence.
Key Highlights
- 2,016‑square‑foot duplex built in 1940
- First‑floor unit is tenant‑occupied; second‑floor unit is vacant
- Updated kitchens and bathrooms with modern cabinetry and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,817
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,340
$996.3K
Cap Rate 7%
$711,671
$711.7K
Cap Rate 9%
$553,522
$553.5K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$77.4K $38.40/SF
− Vacancy
−$6.2K −$3.10/SF
EGI
$71.2K $35.30/SF
− OpEx
−$21.4K −$10.59/SF
NOI
$49.8K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,340
Cap Rate 7%
$711,671
Cap Rate 9%
$553,522
Alternative Uses
Best Use
Multifamily LT 5
$711.7K
$622.7K – $830.3K
NOI $49,817 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$704.0K
$616.0K – $821.3K
NOI $49,280 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,035 @ 7.0% cap · market cap 13.35%
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
716
Businesses Nearby
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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
$650,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Arverne, NY
Properties on Market for Duplexes in Arverne
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residential units include one occupied apartment and a vacant second-floor residence.
Where is this duplex located?
The property is located at 448 Beach 64th Street Arverne, NY.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: 2,016‑square‑foot duplex built in 1940; First‑floor unit is tenant‑occupied; second‑floor unit is vacant; Updated kitchens and bathrooms with modern cabinetry and stainless steel appliances
