Welcome to 1000 Bellevue, a meticulously maintained property offering an exceptional investment opportunity. This 18-unit has been thoughtfully managed and optimized for a seamless transition. Extensive work has been done to enhance the property's value and reduce maintenance costs. The pro forma outlines significant revenue growth opportunities. With 16 2-bed units currently renting at $1,100, owner has converted 3 of them into 3 bed units, capturing market rents of $1,380. This leaves the remaining 13 units for the new owner. This will increase rental income by $$4,480 a month and $53,760. Additionally, $21,600 can be added from a basement storage area that can be built out for tenant use per $100 per unit. With a current NOI of $17900 and a pro forma NOI of $240,000, the property offers solid returns. Various cap rate scenarios ranging from 8%-9% present attractive investment options to buy with existing equity already built in. Don't miss this opportunity to acquire a turnkey investment with significant upside.
S1522594
Single Family, 3+ Story
18
Onondaga
1940
0.1682
Acres
Connected,Public
4
Brick
Connected
21,280
Sq. Ft.
Fitch & Putnam Tract
School Information
Syracuse
Interior Features
- Appliances
- Appliances Negotiable,Gas Water Heater
- Flooring
- See Remarks
- Heating
- Gas Heat. Forced Air.
- Basement
- Full,Partially Finished
Exterior / Lot Features
- Parking
- 0 Covered Parking Spaces. None,No Garage.
- Exterior
- Brick
- Roof
- Flat
- Lot Dimensions
- 99x74
- Structural Condition
- Resale
- Additional Exterior/Lot Features
- See Remarks. Near Public Transit,Residential Lot.
Financial Considerations
311500-092-000-0021-017-000-0000
$23,584
Cash
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