This Multifamily Property is Off-Market.

9 Melrose Avenue
Fulton, NY 13069 ·

24 Units · Multifamily For Sale

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MELROSE APARTMENTS

Price N/A Property Use Type Investment
No. Units 24 Cap Rate 9.70%
Building Size 68,204 SF No. Stories 3
Property Type Multifamily Year Built 1972
Property Sub-type Garden/Low-Rise Lot Size 1.70 AC
Listing ID: 13898287 Date Created: 04/11/2004 Last Updated: 11/10/2005

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.

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

Research

9 Melrose Avenue, Fulton, NY 13069 (Oswego County)

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