Five-Unit Brick Apartment
For Sale
Contact for pricing
Pending
937 Forest Avenue, Staten Island, NY 10310
Well-maintained 5-unit brick income property with separate utilities, off-street parking, and on-site laundry.
Property Size3,266 SF
Days on Market67
Property Features for 937 Forest Avenue
General Information
Standard status
Pending
Size
3,266 SF
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$117,453
Financials
Cap Rate
6%
Business Included
Yes
Additional Details
Multifamily Units
5
Building Details
Buildings
1
Units
5
Listing Agency:
DITOMMASO REAL ESTATE NJ, INC
Listed By:
Francis Shearon
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Jul 24 at 9:34AM
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 DITOMMASO REAL ESTATE NJ, INC
Investment Insights
Based on property information with market context.
This well-maintained five-unit brick apartment building offers five spacious two-bedroom apartments. The units are currently occupied by long-term tenants, and the property is described as not subject to any stabilization laws. Each apartment has separate utilities, which can help reduce shared utility expenses for an owner. The building also features minimal common areas for easier day-to-day management, along with off-street parking and on-site laundry.
Located at 937 Forest Avenue in Staten Island, the property is positioned in a highly convenient area. The public remarks note proximity to shopping, restaurants, public transportation, and major roadways, providing convenient access for tenants and visitors.
For investors and buyers seeking a manageable residential income asset, this configuration of five separate apartments with individual utility setups may appeal to those looking for straightforward operations. With minimal common areas, on-site laundry, and off-street parking, the building supports practical tenant convenience while keeping physical upkeep limited. Please review offering materials for details on current tenancy and operating components.
Located at 937 Forest Avenue in Staten Island, the property is positioned in a highly convenient area. The public remarks note proximity to shopping, restaurants, public transportation, and major roadways, providing convenient access for tenants and visitors.
For investors and buyers seeking a manageable residential income asset, this configuration of five separate apartments with individual utility setups may appeal to those looking for straightforward operations. With minimal common areas, on-site laundry, and off-street parking, the building supports practical tenant convenience while keeping physical upkeep limited. Please review offering materials for details on current tenancy and operating components.
Key Highlights
- Well‑maintained 5‑unit brick apartment building with five spacious 2‑bedroom apartments
- All five units are occupied by stable, long‑term tenants for immediate, consistent income
- Separate utilities for each unit, helping reduce owner expenses
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
$72,427
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
4.53%
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%
$1,448,540
$1.4M
Cap Rate 7%
$1,034,671
$1.0M
Cap Rate 9%
$804,744
$804.7K
Market Conditions
NOI Build-Up for 3,266 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
$137.2K $42.00/SF
− Vacancy
−$5.5K −$1.68/SF
EGI
$131.7K $40.32/SF
− OpEx
−$59.3K −$18.14/SF
NOI
$72.4K $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%
$1,448,540
Cap Rate 7%
$1,034,671
Cap Rate 9%
$804,744
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$905.3K – $1.21M
NOI $72,427 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,085 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,659
Businesses Nearby
Explore this area
Business Placement
Demographics for 10310, NY
26,667
Population
9,909
Households
2.7
Avg Household Size
37
Median Age
31%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
14,815
Density / Sq Mi
$106,118
Median Household Income
$57,861
Median Earnings
$1,638
Median Rent
$623,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 5-unit brick income property with separate utilities, off-street parking, and on-site laundry.
Where is this apartment building located?
The property is located at 937 Forest Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Well‑maintained 5‑unit brick apartment building with five spacious 2‑bedroom apartments; All five units are occupied by stable, long‑term tenants for immediate, consistent income; Separate utilities for each unit, helping reduce owner expenses
