Duplex with Ocean
New
For Sale
$2,500,000
622 W Penn Street, Long Beach, NY 11561
Two adjoining townhouse-style residences provide a side-by-side configuration near the beach.
Property Size6,000 SF
Price / SF$416.67
Days on Market7
Property Features for 622 W Penn Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Residential Income
Additional Details
Gross Income
$183,600
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,197
Amenities
Breakfast Bar
Built-in Features
Cathedral Ceiling(s)
Ceiling Fan(s)
Chefs Kitchen
Eat-in Kitchen
Formal Dining
His and Hers Closets
Kitchen Island
Open Floorplan
Open Kitchen
Primary Bathroom
Quartz/Quartzite Counters
Recessed Lighting
Smart Thermostat
Stone Counters
Walk Through Kitchen
Walk-In Closet(s)
Building Details
Building Size
6,000 SF
Year Built
2026
Units
2
Listing Agency:
Paul Gold Real Estate Inc
Listed By:
Gosia Bosgang CBR
(516) 330-1278
Source:
Georgemcknight
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 23 at 2:16PM
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 Paul Gold Real Estate Inc
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Investment Insights
Based on property information with market context.
Built in 2026, this 6,000-square-foot legal two-family property is configured as two townhouses positioned side by side. The residences contain a combined 8 bedrooms, 8 full bathrooms, and 2 powder rooms, with an ocean view.
Located on W. Penn Street in Long Beach, the property is described as beachside.
Located on W. Penn Street in Long Beach, the property is described as beachside.
Key Highlights
- Legal two‑family property with 6,000 square feet
- Two side‑by‑side townhouse residences
- Combined total of 8 bedrooms, 8 full bathrooms, and 2 powder rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,307
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,286,140
$2.3M
Cap Rate 7%
$1,632,957
$1.6M
Cap Rate 9%
$1,270,078
$1.3M
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$172.8K $28.80/SF
− Vacancy
−$9.5K −$1.58/SF
EGI
$163.3K $27.22/SF
− OpEx
−$49.0K −$8.16/SF
NOI
$114.3K $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%
$2,286,140
Cap Rate 7%
$1,632,957
Cap Rate 9%
$1,270,078
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.43M – $1.91M
NOI $114,307 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $107,025 @ 7.0% cap · market cap 4.28%
Theoretical Best
Specialty Retail
$3.97M
$3.47M – $4.63M
NOI $277,695 @ 7.0% cap · market cap 11.11%
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
616
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two adjoining townhouse-style residences provide a side-by-side configuration near the beach.
Where is this duplex located?
The property is located at 622 W Penn Street Long Beach, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Legal two‑family property with 6,000 square feet; Two side‑by‑side townhouse residences; Combined total of 8 bedrooms, 8 full bathrooms, and 2 powder rooms
