Real Estate News

Calling all investors.  Incredible opportunity to generate secondary income with massive upside.  211-213 Bement Ave is a five family home conveniently located near public transportation and shopping.  The S44 and S94 buses stop directly in front of the building.  

On the 211 side there are two apartments.  The 1st floor is a two bedroom and the 2nd floor is a 4 bedroom duplex.  On the 213 side there are three apartments.  The 1st floor is a two bedroom, the 2nd floor is a two bedroom, and the 3rd floor attic is a one bedroom.  The 213 two bedroom apartments were recently renovated.  Renovations included new heating systems for both apartments in which tenants now pay for.  Heat for the other three apartments is paid for by the owner.  Other expenses include taxes, common electric, water, and insurance.  

All apartments are currently occupied.  Current cap rate for investors is 6.2% with rent rate way below market.  Raising rent to be inline with market would increase cap rate to 8.1%.   There are two leases on the 213 two bedrooms that end on 3/31/19.  All other apartments are month to month as of now.  

Residing in the Randall Manor section of Staten Island, Bement Avenue possesses the advantage of being located in the proximity of the St. George ferry terminal.  It is regarded as one of the most desirable and attractive locations on the island.

Call us now at 718.816.7799 or email info@CasandraProperties.com for more information and showing schedule.