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20784695
20784693

290 N Railroad Ave, Staten Island, NY 10304

MG
NY 10401340435
Robert Defalco Realty
Listed by Robert Defalco Realty
$1,999,900
564 days on market
Updated 108 days ago

7 UNIT DESTABILIZED ALL BRICK BUILDING FOR SALE

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,040
Units 7
Cap Rate 5.9%
NOI $118,000
Occupancy 100%
Pro-Forma Cap Rate 8.50%
Broker Co-Op Yes
Year Built 1975
Year Renovated 2023
Stories 2
Lot Size (SqFt) 100,000

Multifamily | 7% CAP | 7 Units

Marketing description

290 North Railroad Ave presents an exceptional investment opportunity with 7 meticulously maintained units, consisting of 6 studios and 1 one-bedroom apartment. Located just steps from Hylan Blvd, this full brick building benefits from easy access to public transportation, including bus services and the ferry, making it not only deal for commuters but ensuring occupancy for years to come. Each apartment has been recently renovated, showcasing modern finishes and thoughtful layouts. All units have separate utilities, which have been updated to ensure efficiency and tenant comfort.Currently generating a monthly gross income of 11K, there's substantial potential to increase this to 18K, providing an impressive opportunity for investors. With the potential to enhance the cap rate to 8.5, this property is not rent-stabilized, allowing for greater flexibility in management and rental rates. Don't miss the chance to invest in this prime real estate opportunity in a thriving area with unmatched growth potential. Contact us today for more details or to schedule a viewing!

Investment highlights

Directly Next to the train/ walking distance from buses & Hylan Blvd.

All brick Exterior.

Maintenance free building.

Apartments are all electric.

Studios rent for $2,440!

Single occupants=less wear & tear/ usage.

Listing Contacts

MG
NY 10401340435
Robert Defalco Realty
Listed by Robert Defalco Realty

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$118,000.00
$9,833.33/mo

Valuation Metrics

0
DSCR
5.9%
Cap Rate
5.9%
ROI

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Additional Information

Name
Monica Girgis
License
10401340435
Brokerage
Robert DeFalco Realty
Brokerage Phone
7189877900
Brokerage Address
1678 Hylan Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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