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384 Fairmount Ave
Jamestown, NY 14701
Southern Tier Village · Multifamily Property For Sale
·
114 Units
PROPERTY FACTS
| No. Units | 114 | Building Size | 84,987 SF |
| Property Type | Multifamily | Average Occupancy | 89% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1960 |
| Building Class | C | Parking Ratio | 1.34/1,000 SF |
| Lot Size | 7.00 AC | ||
| Zoning | R-C & R-1 | ||
| No. Units | 114 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.00 AC |
| Building Size | 84,987 SF |
| Average Occupancy | 89% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 1.34/1,000 SF |
| Zoning | R-C & R-1 |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Window Coverings
ABOUT 384 FAIRMOUNT AVE , JAMESTOWN, NY 14701
Spanish Gates Apartments offers the investor the opportunity to acquire a well-maintained, 114-unit residential community situated on 7 acres (±) in Jamestown, NY. The property features 32 one-bedroom & 82 two-bedroom apartments, totaling 84,987 square feet. It was originally built in 1960 and has been well-maintained with continuous upgrades. Recent upgrades include roofs, siding, windows, appliances and furnaces. The property has public utilities and ample parking. With a 92% occupancy rate, $328,091 Proforma NOI and 7.9% proforma cap rate, this offering represents a unique opportunity for an investor to acquire one of the premier multi-family properties in the Jamestown Area. See attached flyer. Confidentiality Agreement required for detailed Offering Memorandum (see attached). Contact broker for additional information.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 32 | - | 450 |
| 2+1 | 82 | - | 615 |
PROPERTY TAXES
| Parcel Number | 060800-386-008-0006-038-000 | Improvements Assessment | $2,323,900 |
| Land Assessment | $176,100 | Total Assessment | $2,500,000 |
PROPERTY TAXES
