29 Avon Place, Staten Island, NY 10301
PAYMENT CALCULATOR
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 |