Historical Multifamily Sale Listing - MELROSE APARTMENTS

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MELROSE APARTMENTS

9 Melrose Avenue, Fulton, NY 13069

N/A

24 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
24
Building Size:
68,204 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
9.70%
No. Stories:
3
Year Built:
1972
Lot Size:
1.70 AC
Listing ID
13898287
Last Updated
over 1 year ago

Highlights

  • Two new boilers
  • New windows on 12 family
  • New roof and gutters
  • New carpeting, ceiling fans in renovated units
  • All 3 buildings painted.
  • Most apartments renovated

Description

24 unit garden apartments in 3 buildings near Syracuse, NY. Buildings need PARTIAL REHAB. Built in 1970's, this 3 story complex has three-3 bedrooms, nineteen- 2 bedrooms and two-1 bedrooms in two-6 family and one 12 family bldg. on 2 tax lots.in a quiet residential area. Most units have been renovated. Complex needs partial rehab work: NEW WINDOWS ON THE TWO 6 FAMILY BLDGS, AND 2 APARTMENTS NEED GUT RENOVATION. Owner pays heat, water, trash. OTHER EXPENSES: UTILITIES: $29,618 (water/elect&gas) MNGT:$6950,TRASH:$2500, INSURANCE $5100; SNOW/LANDSCAPING $2450; SUPER $3300 and MISC 512. Local management in place. IMPROVEMENTS: NEW WINDOWS IN 12 FAMILY, NEW EXTERIOR DOORS, NEW GUTTERS, NEW ROOFS, RENOVATED APARTMENTS AND HALLWAYS, NEW LANDSCAPING, ETC. RECENTLY PAINTED! (SEE ATTACHMENTS)

Off route 48 in Fulton NY which is 24 minutes Northwest of Syracuse, NY or 12 minutes south of Oswego. NY. Lakes, parks, golf and skiing nearby; 1 hour from Fingerlakes Region and Turning Stone Casino. Major access roads are NYS Thruway and I-81. 500+ new jobs coming to Fulton with reopening of NESTLE'S CHOCOLATE PLANT under new ownership.

Map of 9 Melrose Avenue, Fulton, NY 13069

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