Legal 2-Family Duplex with ADU
For Sale
$899,999
552 Beach 68th Street, Arverne, NY 11692
MULTI_FAMILY - Arverne, NY
Property Size2,289 SF
Lot Size0.09 Acres
Price / SF$393.18
Days on Market315
Property Features for 552 Beach 68th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Basement, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 1
Parking features
Driveway, On Street
Interior features
First Floor Bedroom, First Floor Full Bath, Ceiling Fan(s), Eat-in Kitchen
Basement
Finished
Elementary school
Ps/Ms 42 R Vernam
Elementary school district
Queens 27
Middle school district
Queens 27
High school district
Queens 27
Standard status
Active
APN
16034-0025
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4876
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
2
Flooring type
Tile, Wood
Building materials
Frame, Vinyl Siding
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
James Donald
(347) 495-7396
Added: Oct 6, 2025
Changed: Aug 3
Last Checked: Aug 16 at 6:06AM
MLS# 921345
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This legal 2-family duplex offers two-bedroom living on both floors, with an added finished attic and a finished basement that may be used to create additional living space. The property has separate entrances for the two units, totaling four entrances. A large 2-car garage also has potential for additional living space through the NYC ADU program.
The home is larger than it appears from the street view, with 2,289 square feet under roof, sitting on a 4,000 square foot lot (0.0918 acres). Construction is frame with vinyl siding. Interior features include a first-floor bedroom and full bath, along with eat-in kitchen elements. Heating is radiant, with window and wall/window unit cooling. Public water and public sewer are available.
Parking includes a driveway and on-street spaces. The remarks note utilities and the roof are in great condition. The property is located in Arverne, with minutes to JFK and walking distance to public transportation, and minutes away from a senior citizen assisted living facility and the YMCA.
The home is larger than it appears from the street view, with 2,289 square feet under roof, sitting on a 4,000 square foot lot (0.0918 acres). Construction is frame with vinyl siding. Interior features include a first-floor bedroom and full bath, along with eat-in kitchen elements. Heating is radiant, with window and wall/window unit cooling. Public water and public sewer are available.
Parking includes a driveway and on-street spaces. The remarks note utilities and the roof are in great condition. The property is located in Arverne, with minutes to JFK and walking distance to public transportation, and minutes away from a senior citizen assisted living facility and the YMCA.
Key Highlights
- 2,289 square feet with a 4,000 square foot lot (0.0918 acres)
- Legal 2‑family duplex with separate entrances for both units, 4 entrances total
- Finished attic plus finished basement, with potential for additional unit setup
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,953
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,119,060
$1.1M
Cap Rate 7%
$799,329
$799.3K
Cap Rate 9%
$621,700
$621.7K
Market Conditions
NOI Build-Up for 2,289 SF
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.
Gross rent
$105.8K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$101.7K $44.44/SF
− OpEx
−$45.8K −$20.00/SF
NOI
$56.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,119,060
Cap Rate 7%
$799,329
Cap Rate 9%
$621,700
Alternative Uses
Best Use
Apartment 5plus
$799.3K
$699.4K – $932.6K
NOI $55,953 @ 7.0% cap · market cap 6.22%
Second Best
Multifamily LT 5
$541.2K
$473.6K – $631.5K
NOI $37,887 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,123 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
623
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 - Legal duplex with separate entrances, a finished attic, and a finished basement, plus ADU potential in the 2-car garage.
Where is this duplex located?
The property is located at 552 Beach 68th Street Arverne, NY.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: 2,289 square feet with a 4,000 square foot lot (0.0918 acres); Legal 2‑family duplex with separate entrances for both units, 4 entrances total; Finished attic plus finished basement, with potential for additional unit setup
