43-Unit Brick Apartment Building
646-662 Port Richmond Ave Staten Island, NY 10302
For Sale
$10,800,000
43 units, high income, Port Richmond neighborhood, Staten Island.
Property Size27,152 SF
Lot Size0.83 Acres
Price / SF$397.76
Days on Market118
Property Features for 646-662 Port Richmond Ave
General Information
- Standard status
- Active
- Size
- 27,152 SF
- Lot size
- 0.83 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1971
Listing Agency:
Neuhaus Realty Inc.
(347) 423-5926
Listed By:
Giovanna Cardinale · License #40CA1050108
(347) 423-5926
Source:
Elliman
Added: Mar 31
Changed: Jul 10
Last Checked: Jul 25 at 10:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Neuhaus Realty Inc.
Investment Insights
Based on property information with market context.
This 27,152 square foot, all-brick, U-shaped garden-style apartment building complex features 43 units and is not rent stabilized. The building includes one large first-floor office, 13 two-bedroom apartments, 17 one-bedroom apartments, and 12 studio apartments. The property, situated on a 200' x 180' lot, offers 39 private parking spaces. A 6,000 sq ft basement includes a laundry area. The building has a relatively new roof (3 years old) and a state-of-the-art heating system (6 years old). Located in the Port Richmond neighborhood of Staten Island, New York, the property benefits from convenient access to shopping and city buses to Brooklyn, Manhattan, and the Staten Island Mall. The property's gross income is $1,007,460, with total expenses of $283,000, resulting in a net income of $724,460 yearly. The location has a walk score of 88, indicating it is very walkable, a transit score of 58, indicating good transit options, and a bike score of 50, indicating it is bikeable.
Key Highlights
- High Net Operating Income: $724,460 yearly.
- 43‑unit all‑brick garden‑style apartment building complex.
- 39 private parking spaces on property.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.14M | $42.00 |
| − Vacancy | −$45.6k | −$1.68 |
| EGI | $1.09M | $40.32 |
| − OpEx | −$492.6k | −$18.14 |
| NOI | $602.1k | $22.18 |
27,152 SF · lease $42.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$8.60M
$7.53M – $10.04M
NOI $602,123 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.96M
$11.34M – $15.11M
NOI $906,883 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 43 units, high income, Port Richmond neighborhood, Staten Island.
Where is this apartment building located?
The property is located at 646-662 Port Richmond Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $10,800,000.
What are key features of this property?
This property features: High Net Operating Income: $724,460 yearly.; 43‑unit all‑brick garden‑style apartment building complex.; 39 private parking spaces on property.
