405 Cogswell Ave - Apartments FOR SALE


Syracuse, NY 13209- Solvay
$649,000 USD
315-457-7170
405 Cogswell Ave, Syracuse, NY for Sale
$649,000 USD
Apartments - FOR SALE
1/41
null | 12.27% Cap Rate

405 Cogswell Ave
Syracuse, NY 13209
Solvay


OVERVIEW

Historically high occupancy, very low vacancy, consistent rental demand, and additional upside potential make this 6-unit Solvay property a strong addition to an investment portfolio. The property is currently 100% occupied, generating $6,635 in gross monthly rent and $79,620 in gross annual rental income. Several units are currently rented below prevailing market rates, creating an opportunity for future income growth as leases turn over and rents are adjusted over time. Each tenant pays their own apartment utilities, including heat, electric and cable. Connections to Route 690, Fairmount retail centers, Downtown Syracuse, area hospitals and major employers. 405 Cogswell Ave offers an attractive opportunity for investors seeking both current cash flow and future income growth.

FOR SALE DETAILS

PRICE

$649,000 USD

PRICE/SF

$125 USD /SF

# OF UNITS

10

PRICE/UNIT

$64,900

CAP RATE

12.27%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,057 SF

ZONING

R

APN/PARCEL ID

313201-007-000-0008-008-000-0000

ASK ABOUT THIS PROPERTY

Stephen SchmittHunt Real EstateMore Info
315-457-7170

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Stephen SchmittHunt Real EstateMore Info
315-457-7170

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.