$ 7,100,000
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$7,100,000
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About the Listing EXP06 - 222364
Located in the borough of Staten Island, this 38-unit multifamily apartment complex presents a rare opportunity to acquire a fully occupied, income-producing asset situated on over 1.25 acres. Property Overview The offering consists of four separate buildings, each independently metered with: Separate water meters Separate electric meters Separate gas meters Individual hot water heaters This setup enhances operational efficiency and simplifies expense allocation. Unit Mix (Total: 38 Units) 17 One-Bedroom Apartments Living Room, Kitchen, and Full Bathroom 17 Two-Bedroom Apartments Living Room, Kitchen, and Full Bathroom 4 Studio Apartments Kitchen and Full Bathroom All 38 units are fully occupied, providing immediate, stabilized income. Financial Highlights Gross Monthly Income: Approximately $66,000 Gross Annual Income: Approximately $792,000 Occupancy: 100% Estimated Cap Rate: ~8% The property is being offered at a valuation that supports a roughly 8.5% capitalization rate, presenting an attractive return profile for investors seeking stable cash flow in a strong New York City submarket. Value Add: -Room to add another 5-6 units or a laundry center for convenience (Must hire engineer & architect) -Owner is currently not charging for parking -The property typically sees one to two units per year convert to free-market rents, creating ongoing upside potential through natural tenant turnover
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances: Dishwasher, Microwave, Refrigerator, Gas Water Heater
- Air Cond: Wall/Window Unit(s)
- Heating: Forced Air,Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: N/A
- Parking Spaces: 38
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Parking Lot
Financial Details
- Tax Amount: $100,096
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
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15 Davidson Ct Staten Island, NY 10303
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