29 Avon Place, Staten Island, NY 10301

$2,400,000 9+F - 10301
17 Beds
17 Baths
266.67Building Sqft
7225Lot Sqft
Residential Income
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About 29 Avon, Staten Island

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.

Facts & Features

Subtype 9+F
County Richmond
Lot Size Sqft 7225
Basement Type Partial
Tax Abated No
List Price per Sqft $266.67
Bedrooms 17
Total Bathrooms 17
Zoning -
Electric 220 Volts
Heating System Hot Water
Air Conditioner Units
Area Ward Hill
Condition Good
Lot Dim 50x45
Taxes 49227
Year Built 1926
Building Sqft 266.67
Full Baths 17
Siding Stucco
Sewer City
Heating Source Natural Gas
# of Heating Units 1
Listing Office: Amerihomes Realty of NY, Inc.