5458 Van Riper Street, Staten Island, NY 10302 (MLS # 2602258)

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PRICE $1,299,900 BEDS 0 BATHS 0 HOME SIZE n/a LOT SIZE 8,712 sqft Request More Info Schedule a Showing

Development Site + Income-Producing Asset - Port Richmond, Staten Island Exceptional opportunity for developers and investors to acquire an oversized 88 x 101 parcel in the rapidly evolving Port Richmond section of Staten Island. Positioned near major retail corridors, public transportation, and with convenient access to highways and bridges, this property offers both strong in-place income potential and significant future development upside. The site currently consists of two detached two-family homes (four total units), each configured as spacious five-room apartments with 2-bedroom layouts and the potential to convert to 3-bedroom units. Both buildings include basements and walk-up attics, providing additional flexibility for storage or future use. Projected gross annual income ranges from approximately $127,200 to $168,000, with estimated net income between $104,841 and $145,741, yielding a projected cap rate of 7%-10%. This makes the property well-suited as a cash-flowing hold while plans and approvals are pursued. The true value lies in the zoning: C2-1, R3-2, and R3A. This flexible designation opens the door for multiple development strategies. With proper architectural and zoning analysis, the site offers the potential to expand the existing structures, add additional units, or pursue a full redevelopment. Possible scenarios may include constructing three new buildings"”such as two residential homes and one mixed-use structure"”maximizing both residential and commercial potential. Delivered fully vacant at closing and being sold as-is, this property provides a clean slate for immediate repositioning, redevelopment, or ground-up construction.