437 Midland Avenue, Unit 39
$680,000
8
9,000
9,000
$76
Description
Great opportunity to own a well maintained 8-unit apartment building. All units are identical 2 bedroom/1 bathroom, just shy of 1,000 square feet each. The entire roof is only 3 years only & about 80% of all hot water tanks and furnaces are 1-2 year old. Property has a majority of CapEx into the property complete with no deferred maintenance at play here. Each tenant pays for their own gas/electric and has their own hot water tank and furnace. In the basement there is a coin operated washer/dryer...Great opportunity to own a well maintained 8-unit apartment building. All units are identical 2 bedroom/1 bathroom, just shy of 1,000 square feet each. The entire roof is only 3 years only & about 80% of all hot water tanks and furnaces are 1-2 year old. Property has a majority of CapEx into the property complete with no deferred maintenance at play here. Each tenant pays for their own gas/electric and has their own hot water tank and furnace. In the basement there is a coin operated washer/dryer set for additional income that conveys and is tied into the 9th house electric meter. Brick exterior is facade not structural. Property on the sides ends at the driveway coming up and the fenced in grass area. Plenty of parking out back for the tenants with the newly paved parking area. Great opportunity to bring rents up to market rate of $1,200+ per unit. NOI is currently ~$73,351 offering this property at a 10.79% cap rate based on the current pricing guidance. NOI at market rents would be $87,408 or a 12.95% cap rate. Property is ran extremely efficiently and brings in strong cashflow.
- Listed by Dante Belmonte • Hunt Real Estate ERAP: (315)-682-7197 C: (315)-446-4681 dante.belmonte@huntrealestate.com
Property Details for 437 Midland Avenue, Unit 39
On Waterfront
No
Parking DescriptionThree Or More Spaces, Driveway, No Garage
Nearest Cross StreetMidland
LISTING UPDATED: 11/18/2024 12:02 PM
Property Details for 437 Midland Avenue, Unit 39
Status | Active |
---|---|
MLS # | S1578128 |
Days on Market | 6 |
Taxes | $6,093 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family / Other |
Year Built | 1960 |
Lot Size | 0.38 AC / 16,560 SF |
County | Onondaga County |
Building Information for 437 Midland Avenue, Unit 39
Stories2Residences8Year Built1960Building Size-Lot Size0.38 AC / 16,560 SF
Property Information for 437 Midland Avenue, Unit 39
Property History for 437 Midland Avenue, Unit 39
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 437 Midland Avenue, Unit 39
Taxable ValueLand$49,400Additions$30,600Total$80,000
Home Facts
Total Finished SqFt6,000 SqFtAbove Grade Finished SqFt6,000 SqFtUnfinished Basement SqFt3,000 SqFtStories2Lot Size16,560 SqFtStyleMulti-Family Res (5+ Units)Year Built1960Zoning06 - INDUSTRICountyONONDAGAAPN311500 094.-23-18.1
Schools near 437 Midland Avenue, Unit 39
This home is within Syracuse City School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 7 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Dr King Elementary School PublicPK to 7 | ||
Westside Academy At Blodgett Public6 to 8 | ||
Institute Of Technology At Syracuse Central Public9 to 12 | ||
SYRACUSE STEM AT BLODGETT Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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