157 Beach 119th St

New York NY 11694

2576 sq. ft.

3000 sq. ft.

Duplex

Currently for sale - view listing

Overview

TURN-KEY INVESTOR'S DREAM ? LEGAL 4-FAMILY BEACH BLOCK HOME! A rare and lucrative opportunity to own a fully renovated, income-generating 4-family property just steps from the beach! This multi-family home is completely turn-key and ready for occupancy, making it an ideal investment with a high 7.1% cap rate. All the work has been done including new mechanicals comprised of 2 HVAC systems, ductless mini splits, blown in insulation, all new electric and plumbing, beautiful new kitchens and renovated bathrooms, hardwood and tile flooring. Apartments are a 3 bedroom, 2 bedroom, 1 bedroom and a studio with tenants paying their own electric and gas heating. Parking for 4 cars. The basement is massive and features new egress windows, offering potential for additional living or rental space under the City of Yes initiative. This property is guaranteed to produce income with 4 leases, three of which are pending and one long term tenant secured. Located steps from the sandy beach, boardwalk, shops, and transportation, ensuring strong rental demand year-round.

Features

6 bedrooms

4 bathrooms

4 carspaces

2576 sq. ft. floor area

3000 sq. ft. lot size

Duplex

Property history for 157 Beach 119th St

2024

Sold

$950,000

22 Jul 2024 by Barbara Ferguson, of Rockaway Properties

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