401 Smith St | Syracuse, NY 13224
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- LoopNet Team
401 Smith St
Syracuse, NY 13224
Value-Add Multifamily | Syracuse University · Multifamily Property For Sale
·
58 Units
INVESTMENT HIGHLIGHTS
- Tremendous operational upside: Below market occupancy and rents presents value-add opportunity. | 30-DAY CLOSING EXTENSION & FINANCING AVAILABLE
- Approximately $700,000 CapEx invested in upgrades in 2022 (all units renovated including new flooring, counter tops, appliances, and more).
- Minutes from major highways (I-690, I-481, NYS Thruway) and local shopping and restaurants (Lowe’s, Walmart, Home Depot, Trader Joe's, Aldi, etc.)
- Renovated 23,200 SF two-story multifamily property with 58 studio apartments less than 10 minutes from downtown Syracuse, NY.
- Excellent for student housing: Syracuse University is less than 10 minutes away; Lemoyne College is walking distance.
- Major Syracuse developments: Micron to build $100 bn chip factory with 9,000 employees; $350 million, Amazon distribution facility 10 minute away.
PROPERTY FACTS
| Sale Condition | Auction Sale | Lot Size | 1.38 AC |
| Type of Ownership | Fee Simple | Building Size | 58,000 SF |
| No. Units | 58 | Average Occupancy | 81% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1955/2022 |
| Apartment Style | Low-Rise | Parking Ratio | 0.72/1,000 SF |
| Building Class | C | Parcel Number | 311500-034-000-0002-011-000-0000 |
| Zoning | 020 - Residential | ||
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 58 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.38 AC |
| Building Size | 58,000 SF |
| Average Occupancy | 81% |
| No. Stories | 2 |
| Year Built/Renovated | 1955/2022 |
| Parking Ratio | 0.72/1,000 SF |
| Zoning | 020 - Residential |
| Parcel Number | 311500-034-000-0002-011-000-0000 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Online Services
- Public Transportation
- Walk-Up
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