Description
Prime college rental property literally on the doorstep of campus, with the SUNY library adjacent to the back yard. Unbeatable convenience makes this extremely easy to lease, with significant upside on rents. The property is configured as two buildings (one original, one added in 2004) attached at the corner, with combined rent of $6,550/mo. New leases have recently been signed for each of the units, now leased through May 2023. Ample off-street parking, nice front porch, big back yard, washer/drying in each unit. Three of the eight bedrooms are large enough for legal double occupancy, which has occurred in past years and increases total rent significantly. Owners would prefer to sell this property in conjunction with one other college rental building (64 Elting Avenue with 7 bedrooms) but they are open to selling properties individually as well. Combined cap rate of 7.2%. Financials available upon request.
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0BEDS
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0.27ACRES
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0BATHS
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01/2 BATHS
Description
Prime college rental property literally on the doorstep of campus, with the SUNY library adjacent to the back yard. Unbeatable convenience makes this extremely easy to lease, with significant upside on rents. The property is configured as two buildings (one original, one added in 2004) attached at the corner, with combined rent of $6,550/mo. New leases have recently been signed for each of the units, now leased through May 2023. Ample off-street parking, nice front porch, big back yard, washer/drying in each unit. Three of the eight bedrooms are large enough for legal double occupancy, which has occurred in past years and increases total rent significantly. Owners would prefer to sell this property in conjunction with one other college rental building (64 Elting Avenue with 7 bedrooms) but they are open to selling properties individually as well. Combined cap rate of 7.2%. Financials available upon request.
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