This Multifamily Property is Off-Market.

759 E. MONROE ST.
LITTLE FALLS, NY 13365 ·

50 Units · Multifamily For Sale

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FALLS COURT

Price N/A Commission Split 1.5%
No. Units 50 Cap Rate 9%
Building Size 750 SF Occupancy 95%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise Year Built 1979
Property Use Type Investment Lot Size 1.77 AC
Listing ID: 14150461 Date Created: 03/13/2005 Last Updated: 01/05/2007

Description

COMPLEX IS OFFERED IN PACKAGE WITH 50 UNIT PROPERTY IN CAZENOVIA,NY AND 32 UNIT LOCATED IN CHITTENANGO,NY. THESE ARE ALL CURRENTLY HUD PROPERTIES THAT PRODUCE A 9% CAP RATE AT PACKAGE PRICE OF $3,800.00

TAKEN OUT OF HUD AND RENTED AT FREE MARKET RENTS PROPERTIES WOULD PRODUCE UP TO 14% CAP.

BUILT IN 1979 ON 1.77 ACRE PARCEL THIS SENIOR HOUSING COMPLEX OF 50 ONE BEDROOM APARTMENTS HAS BEEN WELL MAINTAINED AND UPGRADED.

PROPERTY IS SITUATED IN AREA OF THE CITY OF LITTLE FALLS POPULATED WITH SENIOR HOUSING, ASSISITED LIVING, AND NURSING HOME FACILITY.

LITTLE FALLS IS A SMALL CITY LOCATED ON THE ERIE/BARGE CANAL. PROPERTY IS MINUTES FROM NYS THRUWAY (I-90) 45 MILES WEST OF ALBANY AND 25 MILES EAST OF UTICA. PACKAGED COMPLEX'S ARE APPROXIMATELY 60 MILES WEST, NEAR SYRACUSE.

Highlights

  • DESIREABLE SENIOR HOUSING UNITS
  • REMOVEABLE FROM HUD TO INCREASE CAP RATE
  • MINUTES FROM EXIT 29 OF NYS THRUWAY (I-90)
  • WELL MAINTAINED
  • SPECTACULAR VIEW OF THE MOHAWK VALLEY

Research

759 E. MONROE ST., LITTLE FALLS, NY 13365 (Herkimer County)

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