$215,000
$229,000
6.1%For more information regarding the value of a property, please contact us for a free consultation.
5,616 SqFt
SOLD DATE : 07/21/2021
Key Details
Sold Price $215,000
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 5,616 sqft
Price per Sqft $38
MLS Listing ID S1331110
Sold Date 07/21/21
Construction Status Existing
HOA Y/N No
Year Built 1940
Annual Tax Amount $5,357
Lot Size 3,998 Sqft
Acres 0.0918
Lot Dimensions 40X100
Property Sub-Type Other
Property Description
Having trouble looking for a multi-unit that you can write a check for that has the upside of being able to raise rents, stabilize, and refinance? This property offers just that opportunity! There are a total of 5 units: 2x(1bed/1bath) 2x(2bed/1bath) 1x(3bed/1bath) 100% occupied, with a current GI of $30,000, but with the potential to have a GI of $46,800. All tenants are verbal, month-to-month leases. A local management has agreed to manage the property for 6%. 4 of the 5 units have been renovated with new flooring, paint, updated kitchens, and bathrooms. Other capital improvements include a new roof (complete tear-off in 2019), new siding (2019), new garage roof and doors (2019), updated electrical panel boxes (2016), refurbished boiler (2011), and roughly 60% of the windows have been replaced. Will also be delivered with a transferrable Certificate of Compliance at closing!! Delayed showings and negotiations until 4/25. Income & Expense, Pro-forma, and other property information attached to the listing. SELLER FINANCING AVAILABLE. Video tour link: https://youtu.be/m19PBk3r5J4
Location
State NY
County Onondaga
Area Syracuse City-311500
Direction South Geddes St to Rowland St
Rooms
Basement Exterior Entry, Full, Walk-Up Access
Interior
Heating Gas, Hot Water, Steam
Flooring Carpet, Hardwood, Laminate, Varies, Vinyl
Fireplace No
Appliance Electric Oven, Electric Range, Electric Water Heater, Gas Water Heater, Refrigerator
Exterior
Exterior Feature Concrete Driveway
Utilities Available Sewer Connected, Water Connected
Roof Type Shingle
Building
Lot Description Corner Lot, Near Public Transit, Residential Lot
Story 2
Sewer Connected
Water Connected, Public
Level or Stories Two
Structure Type Vinyl Siding
Construction Status Existing
Schools
School District Syracuse
Others
Senior Community No
Tax ID 311500-091-000-0011-007-000-0000
Acceptable Financing Cash, Other, See Remarks
Listing Terms Cash, Other, See Remarks
Financing Seller Financing
Special Listing Condition Standard
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