3 Racal CtStaten Island, NY 10314

Property Details for 3 Racal Ct

Year built

1982

Property size (Sq ft)

19,800 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment opportunity comprises five three-story apartment buildings located at 3, 15, 23, 31, and 39 Racal Court, Staten Island, NY 10314. The portfolio boasts a total of 15 units, offering a mix of one, two, and three-bedroom apartments, each with a desirable layout. With a combined 19,800 square feet of net rentable space situated on a 14,410 square foot lot, the property presents a compelling value-add proposition. Built in 1982 and renovated in 2000, the buildings are zoned C4-1 and include 15 parking spaces. Currently operating at 90% occupancy, the portfolio generates a pro-forma NOI of $513,675, representing a pro-forma cap rate of 10.81%. The asking price is $4,750,000, translating to $239.90 per square foot and $316,667 per unit. This prime location in Heartland Village, adjacent to the Staten Island Mall, ensures strong tenant demand and future appreciation potential. The property is being offered as-is, with existing tenants in place. This is an ideal investment for those seeking a strong return in a highly desirable Staten Island location. Each building features a full basement, adding further potential for value enhancement. The portfolio presents a rare opportunity to acquire a well-maintained, income-producing multifamily asset with significant upside potential.

Location Insight

City

Staten Island

County

Richmond

State

New York

Latitude

40.5863

Longitude

-74.1645

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