Manhattan Beach Two-Family
For Sale
$1,799,900
Pending
65 Amherst St, Brooklyn, NY 11235
Spacious two-family home in Manhattan Beach with private parking.
Property Size2,772 SF
Days on Market148
Property Features for 65 Amherst St
General Information
Standard status
Pending
Size
2,772 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$14,209
Building Details
Building Size
2,772 SF
Year Built
1920
Listing Agency:
Amerihomes Realty of NY, Inc
Listed By:
Victor Li · License #40LI0944229
(718) 447-2626
Source:
Elliman
Added: Apr 15
Changed: Sep 5
Last Checked: Sep 8 at 7:49AM
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 Amerihomes Realty of NY, Inc
Investment Insights
Based on property information with market context.
Located on the eastern side of Amherst Street in Manhattan Beach, this 40x100 property features a two-family residence designed for comfortable living and entertaining. The property includes a four-car driveway and a detached garage. The current floor plan is designed to accommodate both privacy and social connectivity. The residence features a two-story foyer with double closets, leading to a finished lower level with a living area, an open kitchen, two bedrooms, a full bathroom, a laundry room, and a side entrance. The lower level also features radiant heated floors and 8-foot ceilings. The upper level includes 12-foot ceilings and natural light. A living room with a wood-burning fireplace flows into a formal dining area and an open-concept eat-in kitchen. A rear terrace and private side balcony offer outdoor space. The primary suite includes a walk-in closet and an en-suite bathroom with heated floors. Hardwood flooring is present throughout the upper level. The property has a bike score of 61, making it bikeable, a walk score of 87, making it very walkable, and a transit score of 72, indicating excellent transit options.
Key Highlights
- Rare four‑car private driveway and detached garage in Manhattan Beach.
- Two‑family residence offering versatility and potential rental income.
- Prime location on the eastern side of Amherst Street in Manhattan Beach.
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
$97,080
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
5.39%
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%
$1,941,600
$1.9M
Cap Rate 7%
$1,386,857
$1.4M
Cap Rate 9%
$1,078,667
$1.1M
Market Conditions
NOI Build-Up for 2,772 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
$141.4K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$138.7K $50.03/SF
− OpEx
−$41.6K −$15.01/SF
NOI
$97.1K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,941,600
Cap Rate 7%
$1,386,857
Cap Rate 9%
$1,078,667
Alternative Uses
Best Use
Multifamily LT 5
$1.39M
$1.21M – $1.62M
NOI $97,080 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,626 @ 7.0% cap · market cap 4.70%
Theoretical Best
Specialty Retail
$2.30M
$2.01M – $2.68M
NOI $160,665 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Spacious two-family home in Manhattan Beach with private parking.
Where is this duplex located?
The property is located at 65 Amherst St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,900.
What are key features of this property?
This property features: Rare four‑car private driveway and detached garage in Manhattan Beach.; Two‑family residence offering versatility and potential rental income.; Prime location on the eastern side of Amherst Street in Manhattan Beach.
