408 James St - Apartments FOR SALE


Syracuse, NY 13203- Northside
$5,800,000 USD
315-445-8503
408 James St, Syracuse, NY for Sale
$5,800,000 USD
Apartments - FOR SALE
1/28
null | Request Cap Rate

408 James St
Syracuse, NY 13203
Northside


HIGHLIGHTS

  • 175 unit apartment building with off-street parking.
  • Comprised of a mix of traditional residential apartments and SRO units, with the majority being SRO units.
  • By converting the building to 94 conventional residential units presents a strong value-add and long-term stabilization strategy.
  • Building is fully sprinklered with a dissolvable ceiling so you can't see them.
  • Well protected with security cameras, emergency doors with alarms, fob access, and there is an alarm system for the sprinklers.
  • Additional parcels involved in sale 106 Burnet Ave; Tax Map: 103.-08-02.1 an off-street surface parking lot with 30 spaces.

OVERVIEW

For sale is a six-story 175 unit apartment building with off-street parking. The property currently consists of 175 units, comprised of a mix of traditional residential apartments and SRO units, with the majority being SRO units that feature shared kitchens and bathrooms. By converting the building to 94 conventional residential units presents a strong value-add and long-term stabilization strategy. Building is fully sprinklered with a dissolvable ceiling so you can't see them. Well protected with security cameras, emergency doors with alarms, fob access, and there is an alarm system for the sprinklers. Additional parcels involved in sale 106 Burnet Ave; Tax Map: 103.-08-02.1 an off-street surface parking lot with 30 spaces.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$33 USD /SF

# OF UNITS

163

PRICE/UNIT

$35,583

CAP RATE

Request Cap Rate

% LEASED

47%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Snowdon Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1902

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

MX-3, MX-5

APN/PARCEL ID

311500-103-000-0003-001-000-0000

ASK ABOUT THIS PROPERTY

David CarnieCushman & Wakefield | Pyramid Brokerage CompanyMore Info
315-445-8503

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David CarnieCushman & Wakefield | Pyramid Brokerage CompanyMore Info
315-445-8503

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