ArianaGibbs
MLS#966480
STATUSActive
PROPERTY TYPECommercial -
Property Description
Located in the borough of Staten Island, this 38-unit multifamily apartment complex presents a rare opportunity to acquire a fully occupied, income-producing asset situated on over 1.25 acres.Property OverviewThe offering consists of four separate buildings, each independently metered with:Separate water metersSeparate electric metersSeparate gas metersIndividual hot water heatersThis setup enhances operational efficiency and simplifies expense allocation.Unit Mix (Total: 38 Units)17 One-Bedroom ApartmentsLiving Room, Kitchen, and Full Bathroom17 Two-Bedroom ApartmentsLiving Room, Kitchen, and Full Bathroom4 Studio ApartmentsKitchen and Full BathroomAll 38 units are fully occupied, providing immediate, stabilized income.Financial HighlightsGross Monthly Income: Approximately $66,000Gross Annual Income: Approximately $792,000Occupancy: 100%Estimated Cap Rate: ~8%The property is being offered at a valuation that supports a roughly 8.5% capitalization rate, presenting an attractive return profile for investors seeking stable cash flow in a strong New York City submarket.Value Add: -Room to add another 5-6 units or a laundry center for convenience (Must hire engineer & architect)-Owner is currently not charging for parking-The property typically sees one to two units per year convert to free-market rents, creating ongoing upside potential through natural tenant turnover
Property Features
Property Type: Commercial -
Cooling: Wall/Window Unit(s)
Heating: Forced Air, Natural Gas
Lot Size: 1.27 Acres
Taxes: $100,096
Year Built: 1989
Feature Descriptions
Appliances: Dishwasher, Microwave, Refrigerator, Gas Water Heater
Building Area Total: 43700
Cap Rate: 9
Days on Site: 125
Exterior: Frame, Vinyl Siding
Heating Units: 38
Maintenance Expense: 21552
Maintenance Expense: 21552
On Market Date: 2026-03-03
Parking Features: Parking Lot
Parking Total: 38
Rental Term: Monthly
Separate Electric Meters: 38
Separate Gas Meters: 38
Sewer: Public Sewer
Tenant Pays: Electricity, Gas, Heat, Water
Units: 38
Utilities: See Remarks
Water: Public
Listed By / Shown By
Listing By
Agency Name: EXP Realty
Agency Contact: 888-276-0630
Shown By
Agent Name: Ariana Gibbs
Agent Phone: (718) 206-1340
Agency Title: Coldwell Banker American Homes
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15 Davidson Court | MLS# 966480
This commercial property located at 15 Davidson Court, Staten Island, NY 10303 is currently listed for sale with an asking price of $7,500,000. Search Staten Island real estate on arianagibbs.cbamhomes.com today.