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    646-662 Port Richmond Ave Staten Island, NY 10302

    Sponsored
    For Sale
    $10,700,000

    43-unit apartment building, high occupancy.

    Property size:
    27,152 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 43-unit apartment building located at 646-662 Port Richmond Ave, Staten Island, NY 10302. Boasting a substantial 27,152 square feet, this multifamily property offers a compelling blend of strong financials and attractive features. The building, constructed in 1974, features a recently updated roof (installed within the last year) and a six-year-old heating system, minimizing immediate capital expenditure needs. The property includes 39 private parking spaces, a significant amenity in this location, and a large basement with a laundry area. The unit mix comprises 13 two-bedroom apartments, 17 one-bedroom apartments, and 12 studio apartments, along with a large first-floor office with its own address. The building sits on a sizable 200' x 180' lot and is described as an all-brick, U-shaped garden-style structure. Currently operating at 98% occupancy, the property generates a Net Operating Income (NOI) of $605,798, resulting in a 5.66% cap rate. The asking price is $10,700,000, translating to a price per square foot of $394.08 and a price per unit of $248,837.21. Its location in Port Richmond offers convenient access to shopping and public transportation, with city buses providing easy commutes to Brooklyn, Manhattan, and the Staten Island Mall. This property is not rent-stabilized. Detailed financial information is available upon request.

    Property Features for 646-662 Port Richmond Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    27,152 SF

    Building Details

    Year Built
    1974
    Units
    43

    HighLights

    • 43‑unit multifamily building at 646‑662 Port Richmond Ave, Staten Island, NY 10302.
    • 27,152 square feet on a 200' x 180' lot; all‑brick, U‑shaped garden‑style construction.
    • Recently updated roof and six‑year‑old heating system.
    • 39 private parking spaces and a large basement with laundry.
    • Unit mix: 13 two‑bedroom, 17 one‑bedroom, 12 studio apartments, plus a first‑floor office.
    • 98% occupancy, $605,798 NOI, 5.66% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.1423518
    Latitude
    40.6276713

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    FAQs

    What type of property is this?
    Multifamily property - 43-unit apartment building, high occupancy.
    Where is this multifamily property 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 $10,700,000.
    What are key features of this property?
    This property features: 43-unit multifamily building at 646-662 Port Richmond Ave, Staten Island, NY 10302.; 27,152 square feet on a 200' x 180' lot; all-brick, U-shaped garden-style construction.; Recently updated roof and six-year-old heating system.
    Request Owner's contact information
    646-662 Port Richmond Ave Staten Island, NY 10302
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    Staten Island, NY 10302
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    646-662 Port Richmond Ave Staten Island, NY 10302
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