Two-Unit Duplex with Separate
60 E Market St, Long Beach, NY 11561
For Sale
$750,000
The two apartments share a driveway, while each has separate gas and electric meters.
Property Size1,674 SF
Price / SF$448.03
Days on Market24
Property Features for 60 E Market St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Public Transit
Building Details
Year Built
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Karla Grasso CBR
(516) 432-3400
Source:
Searchhomesinlongisland
Added: Oct 16
Changed: Nov 7
Last Checked: Nov 7 at 2:21PM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,674 square feet and dates to 1926. The first-floor apartment has three bedrooms and two full bathrooms; the upper apartment has three bedrooms and one full bathroom. A basement and shared driveway are also part of the property, and each unit has its own electric and gas meters.
Public transportation is less than two blocks away. Schools, shopping, and other local amenities are nearby.
Public transportation is less than two blocks away. Schools, shopping, and other local amenities are nearby.
Key Highlights
- Two apartments: one with 3 bedrooms and 2 full baths, the other with 3 bedrooms and 1 full bath
- 1,674 square feet; built in 1926
- Separate electric and gas meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,892
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,840
$637.8K
Cap Rate 7%
$455,600
$455.6K
Cap Rate 9%
$354,356
$354.4K
Market Conditions
NOI Build-Up for 1,674 SF
Gross rent
$48.2K $28.80/SF
− Vacancy
−$2.7K −$1.58/SF
EGI
$45.6K $27.22/SF
− OpEx
−$13.7K −$8.16/SF
NOI
$31.9K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,840
Cap Rate 7%
$455,600
Cap Rate 9%
$354,356
Alternative Uses
Best Use
Multifamily LT 5
$455.6K
$398.7K – $531.5K
NOI $31,892 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$426.6K
$373.3K – $497.7K
NOI $29,860 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$1.11M
$968.5K – $1.29M
NOI $77,477 @ 7.0% cap · market cap 10.33%
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
1,682
Businesses Nearby
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Business Placement
Demographics for 11561, NY
39,132
Population
18,442
Households
2.1
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
4.0 sq mi
ZIP Area
9,783
Density / Sq Mi
$132,903
Median Household Income
$72,221
Median Earnings
$2,462
Median Rent
$676,600
Median Home Value
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Market
Properties on Market for Duplexes in Long Beach
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two apartments share a driveway, while each has separate gas and electric meters.
Where is this duplex located?
The property is located at 60 E Market St Long Beach, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two apartments: one with 3 bedrooms and 2 full baths, the other with 3 bedrooms and 1 full bath; 1,674 square feet; built in 1926; Separate electric and gas meters for each unit
