About 40 Hancock Street
4-FAMILY! SEPARATE UTILITIES! COMMERCIAL OVERLAY! Great investment opportunity! Located in the desirable Dongan Hills community very near the Staten Island Railroad, Dongan Hills Station. This very well kept 4 family building features 4 gas meters, 5 electric meters, 4 heating systems, and 4 domestic hot water heaters. Each of the four apartments have 2 bedrooms, a living room, an eat-in kitchen and a full bathroom. The two front units are 980 sq ft and the two rear units are 1080 sq ft. There is a separate spacious apartment in the basement, not currently rented, with a kitchen, a living room, a 3/4 bathroom and a bedroom. There is the potential for expanding the two rear apartments to 3 bedrooms. There is a four car garage on the ground floor that could be converted for commercial business use. Each apartment (except the owner occupied unit which can be rented at the same rate) is currently rented at 2500 dollars/month. Net Operating Income calculates to a 5+ percentage CAP rate. In addition to the nearby SIR, there are numerous local and express bus lines nearby (S78, S79, SIM1, SIM1C, SIM7, SIM10 and SIM11). Location is also convenient to the Hylan Blvd retail district. Recent Upgrades include: new roof coating (done annually), kitchen upgrades (first floor front unit & second floor front unit - 2023, first floor rear unit upgraded in 2015 and second floor rear unit in 2018), new hot water heaters (2023), new stucco exterior for added insulation. Home automation features are automatic garage door openers and a comprehensive internet based security system (14 cameras).
