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.
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.
Rent Includes: SnowRemoval, TrashCollection, Water
Road Frontage: CityStreet, MainThoroughfare
Roof: Architectural, Shingle
StateOrProvince: NY
Stories: 2
Street Name: Cogswell
Street Number: 405
Street Number Numeric: 405
Street Suffix: Avenue
Total Taxes: 9980
Assessed Value: 124000
Town: Solvay-Village
Utilities: SewerConnected, WaterConnected
Water Source: Connected, Public
Year Built: 1960
YearBuiltDetails: Existing
Amenities and Features
Other Features
Basement Y/N 1
BlacktopDriveway
ElectricWaterHeater
Has Heating System
SeeRemarks
Virtual Tour
Map
Courtesy Of : Hunt Real Estate ERA
315-699-3200
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