Available For Sale - Multifamily

8,264 SF | Show Pricing $

LISTED BY

James Lucenti
SVN | Innovative Commercial Advisors, 607-354-6206

AVAILABILITY DETAILS

Size
8,264 SF
Price/SF
Show Pricing $
Listing ID
SA534212
Notes
SVN presents a lucrative investment opportunity with this 10-unit complex situated on Main Street in Endicott. The front house comprises six units, offering a versatile mix of 1, 2, and 3 bedrooms. However, the back house currently stands vacant due to code violation. Specifically, the front porch/balcony of the back house requires reconstruction to meet code standards, rendering it temporarily uninhabitable. Despite its current status, the back house presents a potential income boost once renovated. Current cap rate based on 6 rented units. Income from renting back 4 units significantly increases GOI and cap rate. Each unit features separate electric metering, with tenants responsible for their electricity costs. Meanwhile, the landlord covers gas, water, sewer, and garbage expenses. This property represents a promising value-add opportunity, inviting prospective investors to bring their renovation ideas to the table.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
James Lucenti, SVN | Innovative Commercial Advisors
BRE# 104013002147