Arvene Beach House For
For Sale
$959,000
74-17 Hillmeyer Ave, Queens, NY 11692
Legal 2-family house with ocean view in Far Rockaway.
Property Size1,874 SF
Lot Size0.06 Acres
Days on Market319
Property Features for 74-17 Hillmeyer Ave
General Information
Standard status
Active
Size
1,874 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,000
Building Details
Building Size
1,874 SF
Year Built
2012
Units
2
Listed By:
Sew L. Ang
(646) 639-2110
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 11
Last Checked: Oct 11 at 6:54AM
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 Sew L. Ang
Investment Insights
Based on property information with market context.
This recently built beach house is located in Arvene, Far Rockaway, NY, and offers an ocean view. The legal 2-family house can be used as three residences with a finished walkout basement. It can serve as a primary residence, vacation home, or investment property. An elevator provides access throughout the building. The first floor, which is a walkout basement, includes two bedrooms, one bathroom, and an open kitchen, and is currently renting for $1,850. The property can be delivered vacant. The second and third floors each feature three bedrooms, one bathroom, one kitchen, and a washer/dryer, and are currently renting for $2,600 each. The property is located minutes from Rockaway Beach. The annual property tax is $7,100.
Key Highlights
- Stunning ocean view.
- Legal 2‑family house usable as 3 residences with finished walkout basement.
- High income‑producing property with existing rental income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,809
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,180
$916.2K
Cap Rate 7%
$654,414
$654.4K
Cap Rate 9%
$508,989
$509.0K
Market Conditions
NOI Build-Up for 1,874 SF
Gross rent
$86.6K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$83.3K $44.44/SF
− OpEx
−$37.5K −$20.00/SF
NOI
$45.8K $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%
$916,180
Cap Rate 7%
$654,414
Cap Rate 9%
$508,989
Alternative Uses
Best Use
Apartment 5plus
$654.4K
$572.6K – $763.5K
NOI $45,809 @ 7.0% cap · market cap 4.78%
Second Best
Multifamily LT 5
$443.1K
$387.7K – $517.0K
NOI $31,018 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,707 @ 7.0% cap · market cap 10.08%
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
716
Businesses Nearby
Explore this area
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
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 - Legal 2-family house with ocean view in Far Rockaway.
Where is this duplex located?
The property is located at 74-17 Hillmeyer Ave Queens, NY.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: Stunning ocean view.; Legal 2‑family house usable as 3 residences with finished walkout basement.; High income‑producing property with existing rental income.
