Listed by Robert Defalco Realty, DITOMMASO REAL ESTATE NJ, INC
$7,599,900
70 Hancock Street
Details
APN 03342-0021
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 13,197
Cap Rate 6.76%
NOI $513,988
Year Built 1975
Buildings 1
Acreage 0.280
Zoning R3-2
Parking Spaces 4 spaces
Parking Per SqFt 0.30
Multifamily | 6.76% CAP
Marketing description
Once-in-a-lifetime investment opportunity with this all-brick, 27-unit multifamily building in the heart of Dongan Hills. The property features 18 one-bedroom duplexes with vaulted ceilings and 9 studios, offering a desirable unit mix with strong tenant demand.
Each apartment is separately metered for electric, with a shared heating system that helps keep expenses low. Ideally located just minutes from Hylan Boulevard and Richmond Road, with shopping, dining, and the Staten Island Railroad plus other transit options only steps away, this is a highly tenant-friendly property.
Currently grossing 657,000 annually with low operating expenses and room for growth. The building is not rent stabilized, giving investors greater income flexibility.
A true once-in-a-lifetime chance to secure a stable, income-producing property in one of Staten Island's most desirable neighborhoods—perfect for both long-term growth and immediate cash flow.
Listing Contacts
Listed by Robert Defalco Realty, DITOMMASO REAL ESTATE NJ, INC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$513,988.00
$42,832.33/mo
Valuation Metrics
0
DSCR
6.76%
Cap Rate
6.76%
ROI
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