Six-Family Apartment
For Sale
$1,950,000
76 Grove Avenue, Staten Island, NY 10302
Residential, Staten Island, NY
Property Size3,780 SF
Lot Size0.10 Acres
Price / SF$515.87
Days on Market54
Property Features for 76 Grove Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-2
Bedrooms
12
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 1, Bedroom 2, Bathroom 7, Bedroom 8, Bedroom 1, Bedroom 9, Bedroom 3, Bedroom 12, Bathroom 3, Bedroom 11, Bathroom 6, Bathroom 5, Bedroom 10, Bathroom 4, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 7
Subdivision
Port Richmond
Standard status
Active
Size
3,780 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
8625
Amenities
on-site property manager's quarters
Building Details
Year built
1987
Floors in Building
3
Number of units
6
Building materials
Brick
Roof type
Flat
Listing Agency:
DiTommaso Real Estate
(718) 667-8000
Listed By:
Hanan Abu Zahriyeh · License #10401291224
(718) 536-9838
Added: Jul 29
Changed: Sep 15
Last Checked: Sep 20 at 7:06PM
MLS# 503384
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 76 Grove Avenue in Staten Island, this detached six-family apartment building offers 3,780 square feet with 12 bedrooms and 7 bathrooms. The brick property was built in 1987 and includes basement storage, on-site quarters for a property manager, and four off-street parking spaces. A flat roof and C-2 zoning complete the core physical profile.
Recent work includes updates to the plumbing and electrical systems. Tenants pay their own heat and hot water, while the property is exempt from New York City's Rent Stabilization Law and Lead Paint Law. A gas piping inspection was completed in 2025, and the building has no HPD or Department of Buildings violations. The property is situated in Port Richmond, Staten Island.
Recent work includes updates to the plumbing and electrical systems. Tenants pay their own heat and hot water, while the property is exempt from New York City's Rent Stabilization Law and Lead Paint Law. A gas piping inspection was completed in 2025, and the building has no HPD or Department of Buildings violations. The property is situated in Port Richmond, Staten Island.
Key Highlights
- Six‑family building with 12 bedrooms and 7 bathrooms
- 3,780 square feet on a 0.1022‑acre lot
- Built in 1987 with brick construction and a flat roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,825
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,676,500
$1.7M
Cap Rate 7%
$1,197,500
$1.2M
Cap Rate 9%
$931,389
$931.4K
Market Conditions
NOI Build-Up for 3,780 SF
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.
Gross rent
$158.8K $42.00/SF
− Vacancy
−$6.4K −$1.68/SF
EGI
$152.4K $40.32/SF
− OpEx
−$68.6K −$18.14/SF
NOI
$83.8K $22.18/SF
Area
Staten Island, NY
Vacancy
4.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,676,500
Cap Rate 7%
$1,197,500
Cap Rate 9%
$931,389
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,825 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,253 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,277
Businesses Nearby
Explore this area
Business Placement
Demographics for 10302, NY
20,931
Population
6,927
Households
3
Avg Household Size
35
Median Age
29%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
17,443
Density / Sq Mi
$76,089
Median Household Income
$43,608
Median Earnings
$1,800
Median Rent
$586,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with on-site manager quarters, basement storage, updated systems, and off-street parking.
Where is this apartment building located?
The property is located at 76 Grove Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Six‑family building with 12 bedrooms and 7 bathrooms; 3,780 square feet on a 0.1022‑acre lot; Built in 1987 with brick construction and a flat roof
