18 Maple Avenue
10-room SRO offering in-place income, immediate lease-up upside and double digit stabilized yield.
Marketing description
Cornerstone Realty is pleased to present 18 Maple Avenue, a rare 10-room Class B SRO rooming house located in Staten Island’s Port Richmond / North Shore submarket. The property offers investors a specialized New York City cash-flow asset with in-place income, immediate lease-up upside, and a compelling projected stabilized yield profile.
The asset is currently 60% occupied, with 6 of 10 rooms leased and generating $9,523.19 per month, or $114,278.28 annually, in current collected rent. Four vacant rooms provide a direct path to revenue growth. At projected stabilization, the property is underwritten to generate $16,323.19 per month, or $195,878.28 annually, in gross potential rent.
18 Maple Avenue has benefited from meaningful prior capital improvements, including modernized kitchens, renovated bathrooms, updated electrical, and fire-rated interior partition work associated with the 2017 legalization plans. The property also features shared kitchen and bathroom facilities and master-metered utilities.
Located in Port Richmond, one of Staten Island’s most accessible North Shore neighborhoods, the property sits near Richmond Terrace, the Bayonne Bridge, Staten Island Expressway access, Richmond University Medical Center, Faber Park, waterfront amenities, and public transit connections toward the St. George Ferry Terminal. The asset is also located within a designated Opportunity Zone, creating potential additional appeal for qualified investors seeking long-term tax-advantaged investment strategies.
With a sub-$1 million asking price, existing income, four immediately leaseable rooms, and a rare SRO operating profile, 18 Maple Avenue offers investors the opportunity to acquire a differentiated NYC income property with clear stabilization upside.
Buyer shall independently verify all income, expenses, leases, SRO registration, legal use, zoning, occupancy, violations, regulatory compliance, and Opportunity Zone eligibility. Financial projections are based on seller-provided information and lease-up assumptions and are not a guarantee of future performance.
Investment highlights
Rare Staten Island SRO Investment Offering
18 Maple Avenue represents a specialized opportunity to acquire a 10-room Class B SRO rooming house in Staten Island’s Port Richmond neighborhood.
In-Place Cash Flow With Immediate Lease-Up Upside
The property is currently 60% occupied, with 6 of 10 rooms leased and generating $9,523.19 per month / $114,278.28 annually in current collected rent. Four vacant rooms provide a clear path to near-term revenue growth through lease-up.
Projected Stabilized Revenue Growth
At full stabilization, the asset is projected to generate $16,323.19 per month / $195,878.28 annually
Compelling Sub-$1M NYC Basis
Offered at $948,800, the property provides investors with a rare sub-$1 million entry point into a New York City income-producing asset with meaningful upside and a projected stabilized yield profile.
Opportunity Zone Location
18 Maple Avenue is located within a designated Opportunity Zone, providing potential tax-planning advantages for qualified investors. Investors should consult their own tax advisors regarding any Opportunity Zone benefits.
Recent Capital Improvements
The property has undergone meaningful improvements, including modernized kitchens, renovated bathrooms, updated electrical, and fire-rated interior partitions tied to 2017 legalization plans, according to the OM.
Port Richmond / North Shore Location
Located one block south of Richmond Terrace, the property benefits from proximity to the Bayonne Bridge, Staten Island Expressway, Richmond University Medical Center, Faber Park, waterfront access, local bus routes, and connections toward the St. George Ferry Terminal.
Specialized Cash-Flow Asset Class
Legal and documented SRO inventory in New York City is limited. 18 Maple Avenue offers investors a differentiated income profile compared to traditional small multifamily assets, with room-level rent collection and multiple income streams from a single property.
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