308 Beach 86th ST Active Save Request In-Person Tour Request Virtual Tour
Far Rockaway,NY 11693
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 883404
Bedrooms 8
Full Baths 4
Year Built 2005
Annual Tax Amount $6,629
Lot Size 4,351 Sqft
Property Sub-Type Triplex
Property Description
This meticulously upgraded property features two spacious 3-bedroom, 1-bath units and a stylish 2-bedroom, 1-bath apartment currently rented for $2,850, with tenants covering their own utilities. With projected rents of $3,877 for each 3-bedroom unit, this property delivers a strong cap rate of approximately 9.15% based on a purchase price of $1,225,000—an exceptional opportunity for investors seeking solid cash flow and long-term growth. Inside, discover high-end finishes throughout, while a large partially finished basement offers additional space for storage or future customization. Beyond your doorstep, embrace a lively coastal lifestyle with popular local spots like Cuisine by Claudette, the Rockaway Beach Surf Club for cocktails and bites, and shopping along Rockaway Beach Boulevard. Commuting is seamless thanks to nearby A train service and the NYC Ferry, whisking you to Manhattan or Brooklyn in no time. Whether you're an investor seeking impressive returns or looking to live steps from the beach while generating income, 308 Beach 86th Street offers the perfect blend of luxury, location, and lucrative potential!
Projected Annual Income:
Two 3-bed units @ $3,877 each ($3,877 x 2 x 12 = $93,048)
One 2-bed unit @ $2,850 ($2,850 x 12 = $34,200)
Total Annual Income = $127,248
Annual Expenses:
Property Taxes = $6,629
Insurance = $3,500
Water, Electric, Misc. = $5,000
Total Annual Expenses = $15,129
Net Operating Income (NOI):
$127,248 - $15,129 = $112,119
Cap Rate:
$112,119 ÷ $1,225,000 = 9.15%
Location
State NY
County Queens
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Exterior
Utilities Available Electricity Connected,Natural Gas Connected,Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None