437 Midland Avenue, Unit 39

Syracuse, NY 13202

$680,000
Price
8
Beds
9,000 Sq. Ft.
$76 / Sq. Ft.
9,000
Sq. Ft.
$76
per Sq. Ft.

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.
  1. Listed by Dante Belmonte • Hunt Real Estate ERA
    P: (315)-682-7197 C: (315)-446-4681 dante.belmonte@huntrealestate.com

Property Details for 437 Midland Avenue, Unit 39

On Waterfront
No
Parking Description
Three Or More Spaces, Driveway, No Garage
Nearest Cross Street
Midland
LISTING UPDATED: 11/18/2024 12:02 PM

Property Details for 437 Midland Avenue, Unit 39

StatusActive
MLS #S1578128
Days on Market6
Taxes$6,093 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Other
Year Built1960
Lot Size0.38 AC / 16,560 SF
CountyOnondaga 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

Summary
Location and General Information
  • Elementary School District: Syracuse
  • High School District: Syracuse
  • Middle Or Junior School District: Syracuse
  • Village: Not Applicable
  • Human YN: No
Parking
  • Garage Spaces per Apt: .00
  • Garage YN: No
Taxes and HOA Information
  • Area NYSWIS Code: Syracuse City-311500
  • Tax Annual Amount: $6,093.00
Property
Lot Information
  • Building Area Source: Public Records
  • Building Area Total: 9000.0
  • Land Features: Rectangular, Residential Lot
  • Num Of Acres: 0.3802
  • Lot Size Area: 0.3802
  • Lot Size Square Feet: 16560.0
  • Lot Size Units: Acres
  • Parcel Number: 311500-094-000-0023-018-001-0000
  • Road Frontage: City Street
  • Lot Number: 18
Property and Assessments
  • Property Condition: Resale
  • Senior Community YN: No
  • Assessed Value: $80,000
  • Year Built: 1960
  • Year Built Description: Existing
  • Property Sub Type Additional: Other
Utilities
  • Sewer Description: Connected
  • Utilities Available: Sewer Connected, Water Connected
  • Water Supply: Connected, Public
Interior and Exterior Features
Exterior Features
  • Construction Materials: Brick
  • Exterior Features: Blacktop Driveway
  • Roof Description: Asphalt
Interior Features
  • Appliances: Gas Oven, Gas Range, Gas Water Heater, Refrigerator
  • Basement Description: Full
  • Basement YN: Yes
  • Num Of Possible Bedrooms: 8
  • Num Fireplaces Total Calculated: 0
  • Fireplace YN: No
  • Floor Description: Varies, Vinyl
  • Heating: Gas, Forced Air
  • Heating YN: Yes
  • Levels: Two
  • Sq Ft Total: 9000.0
  • Main Level Bathrooms: 0
Multi Family
Multi-Family Information
  • Number Of Units Total: 8
  • Operating Expense Includes: Water Sewer
  • Stories: 2
  • Stories Total: 2
Rental
Rental Information
  • Rent Includes: Snow Removal, Water
  • Lease Amount Per Area Unit: Dollars Per Square Foot

Property History for 437 Midland Avenue, Unit 39

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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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437 Midland Avenue, Unit 39 is a multi-family home for sale in Syracuse, NY 13202. This property was listed for sale on November 18, 2024 by Hunt Real Estate ERA, it's currently listed at $680,000. It has been on the market for a total of 6 days and was last sold on December 28, 2023. This listing's school district is Syracuse City School District. Nearby schools include Dr King Elementary School, Westside Academy At Blodgett and Institute Of Technology At Syracuse Central. 437 Midland Avenue, Unit 39 is a 8-bed, 0-bath, 9,000 sqft multi-family home built in 1960.

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Listing Courtesy of Hunt Real Estate ERA

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