The Tuccillo Group of Marcus and Millichap is pleased to present this opinion of value to ownership for 630 & 634 E Broadway, two side-by-side multifamily buildings located in Long Beach, NY.
630 & 634 E Broadway consists of eight (8) total apartments with four (4) units in each building. 630 E Broadway was recently renovated, and 634 E Broadway is a value-add opportunity with below-market rents. Situated in Long Beach, the property is close to the beach and the new Super Block development. The location provides good access to the main commercial areas of Long Beach, public transportation (LIRR), and the amenities of the beach town, like restaurants, shops, and recreational activities. Tenants are responsible for their own electric, and the owner provides water/heat. On-site parking and yard in the rear.
The area demographics paint a picture of opportunity – over 51,000 people live within a three miles radius and an average household income over $141,000.