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361-369 Broad St 4 Unit Apartment Building $625,000 ($156,250/Unit) 9.32% Cap Rate Waverly, NY 14892
INVESTMENT HIGHLIGHTS
- Located on a high visibility corridor with approximately 17,460 vehicles per day.
- Exterior has been remodeled, the property includes laundry income, low expenses and requires little to no upfront capital expenditures.
- All current units are occupied, generating strong cash flow from day one.
EXECUTIVE SUMMARY
Exceptional investment opportunity in the heart of Waverly’s business district! This high performing mixed-use building features 6 units: 1 commercial restaurant, 4 residential apartments, and 1 unit used as storage that could be converted to a 1 bed 1 bath for additional income. All current units are occupied, generating strong cash flow from day one. The exterior has been remodeled, and the property includes laundry income, low expenses, and requires little to no upfront capital expenditures. Located on a high visibility corridor with approximately 17,460 vehicles per day. At 9,643sqft and priced at $625,000 ($64.81/sqft), it offers a 9.32% cap rate and $58,224 in NOI. Financing a 20yr 5/1 ARM with 25% down yields an 8.26% COC return. The potential for growth and long term value due to this location is unmatched. Rent roll, lease terms, entire investment highlight PDF, additional photos/videos, etc. are available to serious inquires.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$69,000
|
$5.39
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$69,000
|
$5.39
|
| Taxes |
$4,500
|
$0.35
|
| Operating Expenses |
$10,776
|
$0.84
|
| Total Expenses |
$15,276
|
$1.19
|
| Net Operating Income |
$53,724
|
$4.20
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $69,000 |
| Annual Per SF | $5.39 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $69,000 |
| Annual Per SF | $5.39 |
| Taxes | |
|---|---|
| Annual | $4,500 |
| Annual Per SF | $0.35 |
| Operating Expenses | |
|---|---|
| Annual | $10,776 |
| Annual Per SF | $0.84 |
| Total Expenses | |
|---|---|
| Annual | $15,276 |
| Annual Per SF | $1.19 |
| Net Operating Income | |
|---|---|
| Annual | $53,724 |
| Annual Per SF | $4.20 |
PROPERTY FACTS
1 1
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 492001-166-019-0003-031-000-0000 | Total Assessment | $55,000 |
| Land Assessment | $8,200 | Annual Taxes | $4,500 ($0.35/SF) |
| Improvements Assessment | $46,800 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
492001-166-019-0003-031-000-0000
Land Assessment
$8,200
Improvements Assessment
$46,800
Total Assessment
$55,000
Annual Taxes
$4,500 ($0.35/SF)
Tax Year
2024
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361-369 Broad St
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