22 Spartan Ave 2 Unit Apartment Building $795,000 ($397,500/Unit) 9.77% Cap Rate Staten Island, NY 10303
INVESTMENT HIGHLIGHTS
- Calling All Investors, Developers, & End-Users!!! Free Market Multifamily With Garage On Staten Island For Sale!!!
- The Property Is Located In The Heart Of Graniteville Just Off Forest Avenue Situated Between I-278 & The Dr. MLK Jr. Expy.!!!
- This Property Offers HUGE Upside Potential!!!
- The Property Features Excellent Signage, Great Exposure, (2) 3 Br. Apartments, B9 Zoning, High 8’ Ceilings, Low Property Taxes, 6 Parking Spaces, +++!
- Neighbors Include Hilton Hotels, Amazon, The Home Depot, ShopRite, Public Storage, LA Fitness, Planet Fitness, Lowe’s Home Improvement, Kohl’s, +++!!!
- This Could Be Your Next Development Site / The Next Home For Your Business!!!
EXECUTIVE SUMMARY
Calling All Investors, Developers, & End-Users!!! Free Market Multifamily With Garage On Staten Island For Sale!!! The Property Features Excellent Signage, Great Exposure, (2) 3 Br. Apartments, B9 Zoning, High 8’ Ceilings, Low Property Taxes, 6 Parking Spaces, Private Driveway & Garage, Separate Meters, 200 Amp Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Graniteville Just Off Forest Avenue Situated Between I-278 & The Dr. MLK Jr. Expy.!!! Neighbors Include Hilton Hotels, Amazon, The Home Depot, ShopRite, Public Storage, LA Fitness, Planet Fitness, Lowe’s Home Improvement, Kohl’s, Mavis Discount Tire, Meineke Car Care Center, Popeyes Louisiana Kitchen, Harbor Freight, Checkers, Carvel, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site / The Next Home For Your Business!!!
Income:
1st Floor 3 Br. Apt.: $28,800 Ann.; M-M.; Been Here 5-6 Years So Far.
2nd Floor 3 Br. Apt.: $26,400 Ann.; M-M.; Been Here 3 Years So Far.
LL: $25,200 Ann. (Available)
1 Car Garage: $6,000 Ann. (Available)
Pro Forma Gross Income: $86,400 Ann.
Expenses:
Gas: $0 Ann.
Electric: $0 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $720 Ann
Insurance: $2,173 Ann.
Taxes: $5,564.16 Ann.
Total Expenses: $8,707.16 Ann.
Net Operating Income (NOI): $77,692.84 Ann. (Pro Forma 9.77 Cap!!!)
Income:
1st Floor 3 Br. Apt.: $28,800 Ann.; M-M.; Been Here 5-6 Years So Far.
2nd Floor 3 Br. Apt.: $26,400 Ann.; M-M.; Been Here 3 Years So Far.
LL: $25,200 Ann. (Available)
1 Car Garage: $6,000 Ann. (Available)
Pro Forma Gross Income: $86,400 Ann.
Expenses:
Gas: $0 Ann.
Electric: $0 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $720 Ann
Insurance: $2,173 Ann.
Taxes: $5,564.16 Ann.
Total Expenses: $8,707.16 Ann.
Net Operating Income (NOI): $77,692.84 Ann. (Pro Forma 9.77 Cap!!!)
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$86,400
|
$38.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$86,400
|
$38.23
|
| Taxes |
$5,564
|
$2.46
|
| Operating Expenses |
$3,143
|
$1.39
|
| Total Expenses |
$8,707
|
$3.85
|
| Net Operating Income |
$77,693
|
$34.38
|
PROPERTY FACTS
| Price | $795,000 |
| Price Per Unit | $397,500 |
| Sale Type | Investment |
| Cap Rate | 9.77% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.06 AC |
| Building Size | 2,260 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 3.1/1,000 SF |
| Zoning | B9 |
AMENITIES
SITE AMENITIES
- 24 Hour Access
- Security System
- Gas Range
- Storage Space
- Bicycle Storage
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 2 | - | 1,130 |
Walk Score®
Very Walkable (81)
