Multiple Unit Investment Opportunity In Prime Location
This is an excellent opportunity for an investor to purchase this multi-unit rental in a central location on Route 20, which offers the monthly income potential of $850/900+ per unit. Two potential four teams have been recently remodeled, with new sheetrock, nice wood floors, carpeting, laminate flooring, and freshly painted. Both are approximately 900 square feet each, one on the first floor and the other on the second floor. Both are currently rented. The first-floor apartment has an additional porch/sunroom. Both rental units have two beds and one bath and the kitchen appliances as well as washers and dryers all stay with the property. Each unit is on its own separate meter and hot water tanks. Vinyl replacement windows have been installed throughout the entire house. The flat rubber roof has been maintained annually. In addition, there is a back patio with fire pit as well ...
This is an excellent opportunity for an investor to purchase this multi-unit rental in a central location on Route 20, which offers the monthly income potential of $850/900+ per unit. Two potential four teams have been recently remodeled, with new sheetrock, nice wood floors, carpeting, laminate flooring, and freshly painted. Both are approximately 900 square feet each, one on the first floor and the other on the second floor. Both are currently rented. The first-floor apartment has an additional porch/sunroom. Both rental units have two beds and one bath and the kitchen appliances as well as washers and dryers all stay with the property. Each unit is on its own separate meter and hot water tanks. Vinyl replacement windows have been installed throughout the entire house. The flat rubber roof has been maintained annually. In addition, there is a back patio with fire pit as well as a flat area towards the upper part of the property, providing an open spot for outdoor recreation and entertaining. On the other side of the house, there is the opportunity to renovate a large rental unit with four bedrooms and two baths or break the space into two additional rental units - each two-bedroom and one bath. This space is mid-renovation, having already been gutted framed, with ½ of the electrical wiring already completed and insulation has been purchased and ready to be installed. Another option is to complete the renovation for the new owner’s living area with rental from the other units, helping cover the mortgage and expenses. This property has a long, solid history of rental income. This property is conveniently located on Route 20 and is centrally located within commuting distance to Utica, Rome, Hamilton, Morrisville and even Syracuse. There is parking for six cars and a small woodlot on the property. Don't miss this opportunity to invest in a rental property with great potential and a solid rental history.
Property Features:
- Excellent investment opportunity for multi-unit rental with monthly income potential for $850-900/unit
- Two apartment recently remodeled, ~900 sq ft/each, currently rented
- Completed apartments all new sheetrock, freshly painted, wood flooring on first floor, 2nd floor carpeted and wood laminate
- Vinyl replacement windows throughout entire house
- First floor apartment has additional porch/sunroom
- Both units are 2 bed, 1 bath - kitchen appliances, washer and dryer stay
- Each unit on its own separate meters and separate hot water tanks/unit
- Back patio with firepit
- Long solid history of rental income
- Rubber roof has been maintained annually
- Remaining 1-2 unit opportunity - ready to complete remodeling already begun.
- 1-2 units mid-renovation: gutted, framed, ½ wiring completed, all insulation purchased ready to be installed
- Renovation could be 2 apartments (2 bedrooms/1 bath) or one large apartment
- Parking for 6 cars
- Small woodlot and flat spot on upper side of property
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