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Michael Slusser

michael@michaelslusser.com +1(680) 310-9567

$ 649,000

Est. payment -/mo

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Active

405 Cogswell AVE Syracuse, NY 13209

6 Beds

7,898 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 7,898 sqft

Price per Sqft $82

MLS Listing ID S1704002

Bedrooms 6

Construction Status Existing

HOA Y/N No

Year Built 1960

Annual Tax Amount $9,980

Lot Size 6,250 Sqft

Acres 0.1435

Lot Dimensions 50X125

Property Sub-Type Other

Property Description

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.

Location

State NY

County Onondaga

Area Solvay-Village-313201

Direction Milton Ave in Village of Solvay to Cogswell Ave

Rooms

Basement Full

Interior

Heating Baseboard, Electric

Flooring Carpet, Hardwood, Varies, Vinyl

Fireplace No

Appliance Electric Water Heater, See Remarks

Exterior

Exterior Feature Blacktop Driveway

Community Features None

Utilities Available Sewer Connected, Water Connected

Roof Type Architectural,Shingle

Garage No

Building

Lot Description Rectangular, Rectangular Lot, Residential Lot

Story 2

Sewer Connected

Water Connected, Public

Level or Stories Two

Structure Type Aluminum Siding,Brick,Frame

Construction Status Existing

Schools

School District Solvay

Others

Senior Community No

Tax ID 313201-007-000-0008-008-000-0000

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/instaview/syr/S1704002

Listed by Hunt Real Estate ERA