Staten Island Multifamily Investment Opportunity

646-662 Port Richmond Avenue, Staten Island, NY 10302

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For Sale

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43-unit apartment building in Port Richmond, Staten Island.

Type:Multifamily

Property size:

27,152 SF

Lot size:

0.83 Acres

Price / SF:

$394/SF

HighLights

43‑unit all brick garden style apartment building.
39 private parking spaces on property.
New (3 yr) roof and relatively new (6 yr) state‑of‑the‑art heating system.
Diverse unit mix: 13 two‑bedroom, 17 one‑bedroom, and 12 studio apartments plus a large office.
Large 6,000 sq ft basement with laundry area.
Convenient location in Port Richmond, Staten Island with shopping and city bus access to Brooklyn, Manhattan, and Staten Island Mall.

We can help!

Listing Contact

Lena Hamad

For Sale

Contact for pricing

43-unit apartment building in Port Richmond, Staten Island.

Type:Multifamily

Property size:

27,152 SF

Lot size:

0.83 Acres

Price / SF:

$394/SF

Added:: May 18, 2024
Days on Market:: 754
Last Refresh:: May 12 at 9:55 pm

Property Features for 646-662 Port Richmond Avenue

General Information

Standard status: Active
Size: 27,152 SF
Lot size: 0.83 Acres
Property subtype: Multifamily

Building Details

Year Built: 1974

We can help!

Listing Contact

Lena Hamad

Listing agent Lena Hamad License #0000

Listing office NEUHAUS REALTY INC.

Listing date May 18, 2024

Source Crexi

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.

HighLights

43‑unit all brick garden style apartment building.
39 private parking spaces on property.
New (3 yr) roof and relatively new (6 yr) state‑of‑the‑art heating system.
Diverse unit mix: 13 two‑bedroom, 17 one‑bedroom, and 12 studio apartments plus a large office.
Large 6,000 sq ft basement with laundry area.
Convenient location in Port Richmond, Staten Island with shopping and city bus access to Brooklyn, Manhattan, and Staten Island Mall.

Overview

This 27,152 square foot, U-shaped, all-brick garden-style apartment building features 43 units and is not rent stabilized. The building is situated on a 200' x 180' lot and includes 39 private parking spaces. The property has a 6,000 square foot basement with a laundry area. The building contains one large first-floor office, 13 two-bedroom apartments, 17 one-bedroom apartments, and 12 studio apartments. The roof is three years old, and the heating system is six years old. Located in the Port Richmond neighborhood of Staten Island, New York City, the property offers convenient access to shopping and city buses to Brooklyn, Manhattan, and the Staten Island Mall.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $602,123 @ 7.0% cap · market cap 5.63%

Second Best

—

no second resolved use

Theoretical Best

Office A

$12.96M

$11.34M – $15.11M (±1% cap)

NOI $906,883 @ 7.0% cap · market cap 8.48%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Staten Island
County: Richmond
State: New York
Longitude: -74.142262
Latitude: 40.627615

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For sale
Apartment buildings
NY
Staten Island
10302
646-662 Port Richmond Avenue

What type of property is this?

Apartment building - 43-unit apartment building in Port Richmond, Staten Island.

Where is this apartment building located?

The property is located at 646-662 Port Richmond Avenue 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 all brick garden style apartment building.; 39 private parking spaces on property.; New (3 yr) roof and relatively new (6 yr) state‑of‑the‑art heating system.