6 Monroe Heights - Apartments FOR SALE


Cortland, NY 13045
$555,000 USD
607-753-6556
6 Monroe Heights, Cortland, NY for Sale
$555,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

6 Monroe Heights
Cortland, NY 13045


HIGHLIGHTS

  • Strong Per-Bed Rental Structure: $3,600 per bedroom, per semester
  • Consistent Student Demand Location
  • Owner Pays Electric & Gas Utilities
  • Large On-Site Parking Lot
  • Established Use in a Proven College Rental Market

OVERVIEW

Offered at $555,000, this well-located 3,974± SF, three-unit student housing property presents a strong investment opportunity in the heart of Cortland. The property features 15 total bedrooms (five bedrooms per unit) and is currently operated as student housing, benefiting from consistent demand driven by its walkable proximity to SUNY Cortland and the Cortland City central business district. Each bedroom leases for $3,600 per semester, providing a clear, per-bed revenue model favored by student-housing investors. The owner currently covers electric and gas utilities, simplifying tenant leasing and supporting strong occupancy. The property is further enhanced by a large on-site parking lot, a valuable amenity in this submarket. With its prime location, scale, and established student-housing use, 6 Monroe Heights offers investors a compelling opportunity to acquire a stabilized asset in a proven college rental market.

FOR SALE DETAILS

PRICE

$555,000 USD

PRICE/SF

$140 USD /SF

# OF UNITS

3

PRICE/UNIT

$185,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1974

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,377 SF

ZONING

05 - COMM

APN/PARCEL ID

110200-086-058-0001-030-000-0000

ASK ABOUT THIS PROPERTY

Philip HenrySVR Commercial LLCMore Info
607-753-6556

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Philip HenrySVR Commercial LLCMore Info
607-753-6556

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