228 Beach 32 St, Far Rockaway, NY 11691 For Sale

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.