646-662 Port Richmond Ave
43 Unit Apartment Building$10,999,999 ($255,814/Unit) 4.69% Cap Rate
Staten Island, NY
Investment Highlights
- 43 Unit All Brick 3 Level Garden Style Apartment Including a 1st Floor Office with It’s Own Address
- Perks of Being Part of NYC: DOT Transportation & DOS Sanitation Provided
- Tenants Enjoy Easy Access to Multiple Parks, Ample Dining and Shopping Amenities in Convenient Location
- Building is not rent stabilized!
- Located in Staten Island, NY ( 1 of the 5 borough of NYC)well-known for its green park spaces, museum. Transportation: NYC DOT Bus S59 , S53Â
- 39 Private Parking Spaces on Premise
Executive Summary
*Building is not Rent Stabilized* See attached document
Presenting an amazing opportunity to own a 43 unit all brick u shape garden style apartment building with an NOI of $516,035! This all brick 27,152 ft² building features: 1 yr young roof , a 6yr young heating system, 39 private parking spaces, and a large basement with laundry area on a 200′ × 190′ lot. Property consists of 1 large 1st floor office, 13 two bedrooms apartments, 17 one bedrooms apartments and 12 studio apartments. utilize the advantages of being part of New York City yet located in the beautiful borough of Staten Island, NY. in the convenient neighborhood of Port Richmond. Shopping and city buses to Brooklyn, Manhattan, and Staten Island mall right outside the door. Financials furnished upon request. Chance of a lifetime investment!
FINANCIAL SUMMARY (PRO FORMA – 2022) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income | $712,000 | $23.79 |
| Other Income | – | – |
| Vacancy Loss | – | – |
| Effective Gross Income | $712,000 | $23.79 |
| Taxes | $105,965 | $3.54 |
| Operating Expenses | $90,000 | $3.01 |
| Total Expenses | $195,965 | $6.55 |
| Net Operating Income | $516,035 | $17.24 |
PROPERTY TAXES
| Parcel Number | 01132-0001 | Total Assessment | $854,100 (2021) |
| Land Assessment | $96,300 (2021) | Annual Taxes | $105,965 ($3.54/sf) |
| Improvements Assessment | $757,800 (2021) | Tax Year | 2022 |
ZONING
| Zoning Code | R3A (ZONING R3A – ALL BRICK 43 UNIT MULTI FAMILY GARDEN STYLE BUILDING WITH 39 PRIVATE PARKING SPACES) |
Giovanna Cardinale
NY & NJ Realtor, Neuhaus Realty Inc
DIRECT: 347-423-5926Â Â Email: ccardinalrule@aol.com
 The high levels of integrity and professionalism at Neuhaus Realty closely match my own business style. I have a highly successful track record of outstanding sales, which comes from action-oriented service that is focused on my clients’ needs. You’ll find me to be a goal-oriented, hardworking perfectionist when I work for you.
In order to stay current with the latest industry knowledge, I have a keen awareness of new and emerging trends. This enables me to work efficiently with buyers and sellers as I identify their needs and answer their questions. I look forward to helping you achieve your real-estate goals.
My outstanding sales performance had earned me Rookie of the Year Award during my first year as a member of the Neuhaus Realty team in 2005. Currently Awarded STATEN ISLAND BOARD OF REALTORS’ TOP PRODUCER CLUB & NEUHAUS ELITE PRESIDENT’S CLUB for 6 years in a row . I credit my ability in sales to the outstanding support and creative marketing Neuhaus Realty provides. Ive been acknowledged as a Multi-Million Dollar Club member, and over these years have earned a strong referral base from satisfied customers and clients.
Originally from Brooklyn, I’m able to assist buyers and sellers on either side of the Verrazzano bridge! My in depth knowledge of both Brooklyn and Staten Island provides my buyers and sellers with the information and confidence they need to realize their real estate goals! Im also a licensed NJ Realtor for the past 3 years serving Mommouth County & Middlesex County. Contact me, Giovanna whether you are buying or selling Realestate for simply the best in service.