Listing Courtesy of: Justin Gorelik - Amerihomes Realty of NY, Inc.
718-447-2626
$2,400,000
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29 Avon Pl Staten Island, NY 10301
Multi-Family
Residence
17
Beds
17
Baths
9,000
Sq. Ft.
0.17
Acre
Lot
Property Activity
Time on Site
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Discover an outstanding investment opportunity with this four-story walk-up apartment building, spanning 9,000 square feet and offering an impressive cap rate of 8.33%. This well-maintained property, featuring 17 one-bedroom units and a dedicated laundry room that generates additional monthly income..., provides immediate cash flow from day one. Situated in a thriving rental market, this building is in excellent condition, making it a prime choice for investors seeking stability and growth potential. The property demonstrates solid financial performance with a gross monthly income of $25,811.87 and a gross annual income of $309,742.44. Well-managed expenses, including real estate taxes ($49,227), water and sewer costs ($16,150), fuel ($15,300), electric ($1,700), insurance ($14,450), payroll ($5,950), and repairs/maintenance ($7,140), bring the total annual expenses to $109,917. As a result, the building generates a solid net operating income (NOI) of $199,825, making it a lucrative asset with a robust 8.33% cap rate based on the asking price of $2,400,000. Further enhancing the appeal of this investment, the property comes with an assumable loan of $1,700,000 at an interest rate of 6.75%, offering favorable financing terms for potential buyers. With its immediate cash flow, well-managed operations, and excellent condition, this building is a rare opportunity in the rental market. Don't miss your chance to invest in a property that combines financial stability with long-term growth prospects.
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MLS#
2405973
Property Type
Multi-Family
Bedrooms
17
Bathrooms
17 Full
Year Built
1926
Square Feet
9,000
sq. ft
Price per Sq. Ft.
$266.67
Lot Size
0.17
Sewer
City Sewer
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