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    646-662 Port Richmond Ave Staten Island, NY 10302

    For Sale
    $10,700,000

    43-Unit Apartment Building, High NOI

    Property size:
    27,152 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a 43-unit apartment building located at 646-662 Port Richmond Avenue, Staten Island, NY 10302. The property boasts 27,152 square feet on a 36,000 square foot lot, featuring a desirable mix of 12 studio, 17 one-bedroom, and 13 two-bedroom apartments, plus a vacant office space. Ample parking is provided with 39 on-site spaces. The building, constructed in 1974 and situated on a 200' x 180' lot, is a three-story, all-brick structure with a recently updated roof (3 years old) and state-of-the-art heating system (6 years old). A large 6,000 square foot basement includes a laundry area. The property is zoned R3A and offers a significant net operating income (NOI) of $610,477. This free-market (non-rent stabilized) building presents a compelling investment opportunity in a convenient location with easy access to shopping and public transportation, including buses to Brooklyn, Manhattan, and the Staten Island Mall. The asking price is $10,700,000, translating to a price per square foot of $394.08. Financial details are available upon request. The property is offered fee simple and is suitable for a 1031 exchange.

    Property Features for 646-662 Port Richmond Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    27,152 SF

    Building Details

    Year Built
    1974
    Buildings
    1
    Stories
    3
    Units
    43

    HighLights

    • 43‑unit apartment building in Staten Island, NY, offering a mix of studio, one‑bedroom, and two‑bedroom units.
    • 27,152 square feet on a 36,000 square foot lot with 39 on‑site parking spaces.
    • Three‑story brick building with a recently updated roof and heating system.
    • Features a 6,000 square foot basement with laundry facilities and a vacant office space.
    • $10,700,000 asking price, representing $394.08 per square foot; $610,477 estimated NOI.
    • Non‑rent stabilized, suitable for 1031 exchange.
    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 NOI
    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 apartment building in Staten Island, NY, offering a mix of studio, one-bedroom, and two-bedroom units.; 27,152 square feet on a 36,000 square foot lot with 39 on-site parking spaces.; Three-story brick building with a recently updated roof and 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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