This property is Off-Market

7109 route 69
Rome, NY 13440 ·

24 Units · Multifamily For Sale

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Countryside apts

Price N/A Property Use Type Investment
No. Units 24 Commission Split 2%
Building Size 6,000 SF Cap Rate 9%
Property Type Multifamily Lot Size 2 AC
Property Sub-type Garden/Low-Rise
Listing ID: 17733262 Date Created: 07/03/2012 Last Updated: 11/06/2013

Description

THE COUNTRYSIDE APARTMENTS, LOCATED ON nearly 2 ACRES OF LAND! Laundry on the premises, huge yard, bbq grill, rehabbed in 2007 and 2012, nice quiet country apt bldg. Has 6 cottages and 18 standard apt units. Has a ton of potential because it has land and is located in a very nice neighborhood, no other apt bldg for miles. Safe and no crime.

Gross monthly rent estimate $13,200 (pro-forma)
rent roll;
#1 1 br $575
#2 studio $475
#3 studio $475
#4 studio $475
#5 studio $475
#6 studio $475
#7 studio $475
#8 studio $475
#9 studio $475
#10 studio $475
#11 studio $475
#12 studio $475
#13 2 br cottage $800
#14 1 br cottage $700
#15 2 br cottage $750
#16 2 br cottage $800
#17 1 br cottage $700
#18 1 br cottage $700
#19 1br $500
#20 studio $475
#21 studio $475
#22 studio $600
#23 studio $400
#24 1br $550
laundry $100
Total estimated annual income (pro-forma) $158,400

Estimated annual expenses
$25,000k utls
$2300 insurance
$4100 water and sewage
$15,272 taxes
$1973 lawn and snow removal
$3600 trash
management fees typically 7% of gross collected rent

Close to Griffiss Tech Center, and New York's largest casino Turning Stone are just minutes away. The only apt bldg within a mile, very desirable. About 40 min from Syracuse U, close to Hamilton College.

Research

7109 route 69, Rome, NY 13440 (Oneida County)

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