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41 Prospect Ter 13 Unit Apartment Building $1,725,000 ($132,692/Unit) 8% Cap Rate Cortland, NY 13045
Executive Summary
- 8% Cap Rate
- (6) 2 Bedroom/1 Bath and (7) 3 Bedroom/1 Bath Units
- Fully Pre-Leased for the 2026-2027 Academic Year
- Major Capital Improvements Completed within the Last 5 Years
- (6) 2 Bedroom/1 Bath and (7) 3 Bedroom/1 Bath Units
- Fully Pre-Leased for the 2026-2027 Academic Year
- Major Capital Improvements Completed within the Last 5 Years
Property Facts
| Price | $1,725,000 | Building Class | C |
| Price Per Unit | $132,692 | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 12,874 SF |
| Cap Rate | 8% | Average Occupancy | 92% |
| No. Units | 13 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2010 |
| Property Subtype | Apartment | Parking Ratio | 1.79/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | 05 | ||
| Price | $1,725,000 |
| Price Per Unit | $132,692 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 12,874 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2010 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | 05 |
Amenities
Site Amenities
- Laundry Facilities
- Security System
- Furnished Units Available
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 635 - 735 |
| 3+1 | 7 | - | 830 - 920 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 110200-086-065-0001-004-000-0000 | Improvements Assessment | $660,700 |
| Land Assessment | $49,300 | Total Assessment | $710,000 |
Property Taxes
Parcel Number
110200-086-065-0001-004-000-0000
Land Assessment
$49,300
Improvements Assessment
$660,700
Total Assessment
$710,000
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