228 Beach 32 St
Listing Notes
228 Beach 32nd Street is a solid brick 3-family property located in Far Rockaway, offering a strong combination of income stability, modern renovation, and long-term upside. The building features a 3 bed / 3 bed / 2 bed layout across three well-proportioned units, each designed for practical, functional living with strong rental appeal. The property underwent a full gut renovation in 2018, significantly reducing near-term capital needs and providing updated systems and finishes throughout. A key operational advantage is the utility configuration, with 4 electric meters and 3 gas meters, allowing for near-complete tenant responsibility for utilities and improved expense control for ownership. Additional value is found in the private driveway located in front of the property, a rare amenity in the area that enhances tenant convenience and overall desirability. Importantly, there is also an option to acquire the adjacent property at 230 Beach 32nd Street, creating a unique opportunity for a sizable assemblage on the block. This opens the door for scale-driven investors to pursue long-term development potential, increased density strategies, or a larger stabilized multifamily portfolio in a growing Far Rockaway corridor. Overall, this is a well-renovated, income-producing asset with strong fundamentals today and meaningful upside through optional expansion next door.
Price in context
Cheaper than 4% of the 24 homes listed nearby right now, which run $580,000 to $1,100,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 3012 Seagirt Ave | $580,000 | 3 bd · 3 ba |
| 2515 Far Rockaway Blvd | $619,000 | 3 bd · 2 ba |
| 2706 Deerfield Rd | $629,000 | 4 bd · 2 ba |
| 160 Beach 30th St | $669,900 | 5 bd · 3 ba |
| 195 Beach 26th St | $675,000 | 5 bd · 3 ba |
| 2431 Deerfield Rd | $679,900 | 3 bd · 2 ba |
| 2918 Beach Channel Dr | $699,999 | Studio |
| 162 Beach 27th St | $729,000 | 3 bd · 3 ba |
| 2718 Collier Ave | $749,000 | 3 ba |
| 1046 Dickens St | $749,000 | 4 bd · 3 ba |
| 2409 Brookhaven Ave | $780,000 | 6 bd · 4 ba |
| 29-64 Ocean Crest Blvd | $800,000 | 5 bd · 3 ba |
| 29-64 Ocean Crest Blvd | $800,000 | 4 bd · 2 ba |
| 436 Beach 37th St | $848,000 | 4 bd · 3 ba |
| 2417 Deerfield Rd | $869,000 | 12 bd |
| 436 Beach 29th St | $899,990 | 6 bd · 2 ba |
| 175 Beach 29 St | $900,000 | 6 bd · 2 ba |
| 175 Beach 29 St | $900,000 | 6 bd · 2 ba |
| 2528 Bessemund Ave | $950,000 | 6 bd · 4 ba |
| 2350 Oceancrest Blvd | $985,000 | 6 bd · 4 ba |
| 1010 Bay 25th St | $990,000 | 6 bd · 4 ba |
| 10-37 Bay 31st St Unit 2 | $999,000 | 7 bd · 3 ba |
| 1011 Bay 24th St | $999,000 | 4 bd · 6 ba |
| 329 Beach 29th St | $1,100,000 | Studio |
Where it is
For sale Coming soon Recently sold— zoom out for more