Arverne Two-Family Home with Expansion
552 Beach 68th Street, Arverne, NY 11692
MULTI_FAMILY - Arverne, NY
Property size:
2,289 SFLot size:
0.09 AcresPrice / SF:
$393/SF- Added:
- Oct 6, 2025
- Days on Market:
- 224
- Last Refresh:
- May 17 at 12:06 am
Property Features for 552 Beach 68th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Basement, Bathroom 1, Bedroom 3
- Parking features
- On Street, Driveway
- Interior features
- First Floor Bedroom, First Floor Full Bath, Ceiling Fan(s), Eat-in Kitchen
- Basement
- Finished
- Standard status
- Active
- APN
- 16034-0025
- Size
- 2,289 SF
- 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
- Window Unit(s), Wall/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 agent James Donald (347) 495-7396
Listing office EXP Realty 70 E Sunrise Hwy Ste 500, Hauppauge, NY (888) 276-0630
Listing date Oct 6, 2025
MLS# 921345
Listing URL
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.
HighLights
- Legal 2‑family residence with expansion potential up to a 4‑family property.
- Potential for additional income‑generating units in the attic and basement.
- Large 2‑car garage with ADU potential for additional living space.
- Low taxes.
- Convenient location: minutes from JFK and walking distance to public transportation.
- Spacious 2,289 sq ft house on a 4,000 sq ft lot with a driveway and backyard.
Overview
This legal two-family residence in Arverne, New York City, presents a prime investment opportunity with potential for expansion. The property could be converted into a four-family income-producing property or utilized as a large single-family home. It features a two-bedroom unit with a finished attic that offers the potential to be set up as an additional unit. There is also a two-bedroom unit on the ground floor with a finished basement, which could also be converted into another unit. A large two-car garage presents further living space possibilities via the NYC ADU program. Both units have separate entrances, with a total of four entrances to the property. The house, with 2,289 square feet of living space, is situated on a 4,000 square foot lot that includes a driveway and ample backyard space. The property is located minutes from JFK airport and within walking distance of public transportation, a senior citizen assisted living facility, and the YMCA. This property is suitable for large families, investors seeking income, or owner-occupants looking to offset their mortgage.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$621.7K
NOI $55,953 @ 9.00% cap · cautious / downside scenario
Moderate
$799.3K
NOI $55,953 @ 7.00% cap · market / base-case scenario
Aggressive
$1.12M
NOI $55,953 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.8k | $46.20 |
| − Vacancy | −$4.0k | −$1.76 |
| EGI | $101.7k | $44.44 |
| − OpEx | −$45.8k | −$20.00 |
| NOI | $56.0k | $24.44 |
2,289 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
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 local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Arverne
- County
- Queens
- State
- New York
- Longitude
- -73.797203
- Latitude
- 40.596329
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Legal two-family home with expansion potential in Arverne, New York.
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: Legal 2‑family residence with expansion potential up to a 4‑family property.; Potential for additional income‑generating units in the attic and basement.; **Large 2‑car garage with ADU potential** for additional living space.
