$1,900,000
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1000 Bellevue Ave Syracuse, NY 13204
Other
Residence
18
Beds
Baths
...
Bed/Bath
21,280
Sq. Ft.
Property Activity
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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 ou...tlines 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.
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MLS#
S1522594
Property Type
Other
Bedrooms
18
Year Built
1940
Square Feet
21,280
sq. ft
Lot Size
0.17
Sewer
Sewer Connected
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