412 Adams Ave - Apartments FOR SALE


Endicott, NY 13760
$449,000 USD
607-651-3369
412 Adams Ave, Endicott, NY for Sale
$449,000 USD
Apartments - FOR SALE
1/38
null | 11.45% Cap Rate

412 Adams Ave
Endicott, NY 13760


HIGHLIGHTS

  • Fully Leased
  • Turn Key
  • Off Street Parking for 10 spaces
  • Two Buildings on One Parcel
  • Separate Utilities
  • All electric heat

OVERVIEW

Howard Hanna Real Estate Services is pleased to present 412 & 412½ Adams Avenue, a fully leased five-unit multifamily offering in the Village of Endicott, NY. The property consists of two buildings on a single parcel: a four-unit apartment building featuring two oversized 3BR/1.5BA lower units and two 2BR/1BA upper units, plus a detached, fully renovated 4BR/2BA single-family residence at the rear with a new kitchen, new flooring, newer gas-fired boiler, and an operational radon mitigation system. The offering produces $76,800 in scheduled gross income ($6,400/month) against a minimal owner expense load — tenants pay electric, gas, heat, and trash, with the landlord responsible only for water/sewer (approx. $2,100/yr) and insurance (approx. $2,400/yr). Net operating income of $51,423 (inclusive of 10% professional management) delivers an 11.5% capitalization rate and a 5.85 GRM at the asking price. The two upper units rent $100–$250 below the prevailing Endicott 2BR market, providing immediate organic upside at turnover. Utilities are fully separated: six electric meters and two gas meters. Off-street parking accommodates approximately ten vehicles. All-in 2025/26 property taxes are $8,197 on one tax bill (Tax Map 157.11-5-11). The property benefits from Endicott's deep rental pool — 60.6% of village households are renters — and its proximity to BAE Systems' Endicott campus, where a $65 million, 150,000 SF expansion completed its first phase in 2026, as well as Binghamton University, one of the region's largest employers, 15 minutes east.

FOR SALE DETAILS

PRICE

$449,000 USD

PRICE/SF

$59 USD /SF

# OF UNITS

5

PRICE/UNIT

$89,800

CAP RATE

11.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

412 & 412 1/2 Adams Avenue

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1940

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

Multi-Residential

APN/PARCEL ID

034601-157-011-0005-011-000-0000

ASK ABOUT THIS PROPERTY

Keith ArnoldHoward Hanna Real Estate ServicesMore Info
607-651-3369

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Keith ArnoldHoward Hanna Real Estate ServicesMore Info
607-651-3369

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