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188 Beach 123rd St 11 Unit Apartment Building $3,572,009 CAD ($324,728 CAD/Unit) 5.20% Cap Rate Rockaway Park, NY 11694
INVESTMENT HIGHLIGHTS
- Refreshing Outdoor Shower – Perfect for rinsing off after a day in the sun.
- Convenient Location – Close to shops, dining, and entertainment.
- Steps from the Beach – Enjoy easy access to the shoreline.
- On-Site Fitness Center – Stay active without leaving home.
EXECUTIVE SUMMARY
Welcome to Belle Harbor, one of Rockaway Beach’s sought-after neighborhoods. Perfectly positioned on a quiet beach block just steps from the sand and surf, this six-unit multifamily property offers both charm and investment potential. Converted to a 6 family in the late 80's. This property features a mix of three 2-bedroom apartments, two 1-bedroom apartments, and one studio, creating a balanced layout that appeals to both long-term tenants and short-term rental strategies. The partially finished basement includes an outside separate entrance (OSE), laundry area, storage space, and a bonus room, offering added functionality for tenants or management use. Outdoors, enjoy a beautiful backyard complete with an outdoor shower—perfect for beach days, along with a detached garage and double driveway. In Belle Harbor, parking is an invaluable amenity, and this property provides ample space for residents and guests alike. Rockaway Beach is experiencing continuous growth with new residential developments, restaurants, and easy access to the NYC Ferry. Whether you’re looking to expand your portfolio or secure a stable income-producing property, this six-family home delivers the ideal blend of location, reliability, and upside potential. Property is currently being used as 4 units that are air bnb and 2 are occupied by family. Property will be delivered vacant.
PROPERTY FACTS
| Price | $3,572,009 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $324,728 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.20% | Building Size | 3,040 SF |
| No. Units | 11 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | ||
| Zoning | R3X - Multi-Family Dwelling | ||
| Price | $3,572,009 CAD |
| Price Per Unit | $324,728 CAD |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,040 SF |
| No. Stories | 3 |
| Year Built | 1929 |
| Zoning | R3X - Multi-Family Dwelling |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
- Yard
SITE AMENITIES
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | $3,663 CAD | - |
1 1
Walk Score®
Very Walkable (79)
Transit Score®
Excellent Transit (80)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 16232-0083 | Improvements Assessment | $188,984 CAD |
| Land Assessment | $4,585 CAD | Total Assessment | $193,568 CAD |
PROPERTY TAXES
Parcel Number
16232-0083
Land Assessment
$4,585 CAD
Improvements Assessment
$188,984 CAD
Total Assessment
$193,568 CAD
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188 Beach 123rd St
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