Two-Family
New
For Sale
$799,000
643 Beach 67th Street, Arverne, NY 11692
Tenant-occupied residence with two separate three-bedroom, two-bathroom units.
Property Size1,980 SF
Price / SF$403.54
Days on Market3
Property Features for 643 Beach 67th Street
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,459
Amenities
Primary Bathroom
Building Details
Building Size
1,980 SF
Year Built
2004
Units
2
Listing Agency:
Weissman Realty Group LLC
Listed By:
Sherri L. Slochowsky GRI
(516) 297-7995
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 2:59PM
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 Weissman Realty Group LLC
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Investment Insights
Based on property information with market context.
This legal two-family property has two units, each configured with three bedrooms and two full bathrooms. The kitchens have been renovated, and the residence is tenant occupied.
The 1,980-square-foot property was built in 2004 and is located at 643 Beach 67th Street in Arverne, New York.
The 1,980-square-foot property was built in 2004 and is located at 643 Beach 67th Street in Arverne, New York.
Key Highlights
- Legal two‑family property
- Two units, each with 3 bedrooms and 2 full bathrooms
- Renovated kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,400
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$968,000
$968.0K
Cap Rate 7%
$691,429
$691.4K
Cap Rate 9%
$537,778
$537.8K
Market Conditions
NOI Build-Up for 1,980 SF
Gross rent
$91.5K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$88.0K $44.44/SF
− OpEx
−$39.6K −$20.00/SF
NOI
$48.4K $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 Rate 5%
$968,000
Cap Rate 7%
$691,429
Cap Rate 9%
$537,778
Alternative Uses
Best Use
Apartment 5plus
$691.4K
$605.0K – $806.7K
NOI $48,400 @ 7.0% cap · market cap 6.06%
Second Best
Multifamily LT 5
$468.2K
$409.7K – $546.2K
NOI $32,772 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,178 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
496
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied residence with two separate three-bedroom, two-bathroom units.
Where is this duplex located?
The property is located at 643 Beach 67th Street Arverne, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Legal two‑family property; Two units, each with 3 bedrooms and 2 full bathrooms; Renovated kitchens
