Residential Complex for Sale in Staten Island - New York - USA

• Bedrooms: 38
• Price: $7,500,000

Located in the Staten Island district, this 38-unit multi-family apartment complex presents a rare opportunity to acquire a fully occupied, income-producing asset situated on over 0.51 hectares.

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 Cap 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 an additional 5-6 units or a laundry center for convenience (Hiring an engineer and architect is required)
• The owner currently does not charge for parking
• The property typically sees one to two units per year converted to free-market rentals, creating ongoing appreciation potential through natural tenant turnover