- Price: $7,500,000
Located in the district of Staten Island, this 38-unit multifamily apartment complex presents a rare opportunity to acquire a fully occupied, income-producing asset situated on over 0.51 hectares (approx. 54,896 sq ft). Property Overview The offering consists of four separate buildings, each with independent metering for: Separate water meters Separate electricity meters Separate gas meters Individual water heaters This configuration enhances operational efficiency and simplifies expense allocation. Unit Composition (Total: 38 Units) 17 One-Bedroom Apartments Living Room, Kitchen, and Full Bathroom 17 Two-Bedroom Apartments Living Room, Kitchen, and Full Bathroom 4 Studio Apartments Kitchen and Full Bathroom All 38 units are fully occupied, providing immediate and stabilized income. Financial Highlights Gross Monthly Income: Approximately $66,000 Gross Annual Income: Approximately $792,000 Occupancy: 100% Estimated Capitalization Rate: ~8% The property is being offered at a valuation that supports a capitalization rate of approximately 8.5%, presenting an attractive return profile for investors seeking stable cash flow in a strong New York City submarket. Value Add: - Space to add