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447-449 NY-31 6 Unit Apartment Building $310,000 ($51,667/Unit) 7.63% Cap Rate Bridgeport, NY 13030
INVESTMENT HIGHLIGHTS
- Rents currently below market = strong upside
- Stable income with value-add potential
- Two brick buildings
- Directly across from Point Place Casino
- 20 minutes from Microns upcoming site
- Long-term tenants in place
EXECUTIVE SUMMARY
447–449 New York 31 in Bridgeport is a 5,315 square foot, six-unit multifamily property positioned directly across from Point Place Casino. The asset consists of five 1-bedroom units and one 3-bedroom unit, all currently rented below market, creating a clear value-add opportunity through rent adjustments and strategic improvements. Both buildings are primarily brick with additional siding and small extensions, offering durability and low ongoing maintenance.
The property includes two garages at the rear that can generate additional income, along with dedicated parking for all tenants. The location is strong, surrounded by everyday conveniences including gas stations, restaurants, and local shops. It also benefits from regional development, sitting roughly 20 minutes from the future Micron site in Syracuse, which is expected to drive long-term housing demand throughout the area.
The property includes two garages at the rear that can generate additional income, along with dedicated parking for all tenants. The location is strong, surrounded by everyday conveniences including gas stations, restaurants, and local shops. It also benefits from regional development, sitting roughly 20 minutes from the future Micron site in Syracuse, which is expected to drive long-term housing demand throughout the area.
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 3+1 | 1 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 254889-008-006-0001-055-000-0000 | Improvements Assessment | $112,300 |
| Land Assessment | $15,700 | Total Assessment | $128,000 |
PROPERTY TAXES
Parcel Number
254889-008-006-0001-055-000-0000
Land Assessment
$15,700
Improvements Assessment
$112,300
Total Assessment
$128,000
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447-449 NY-31
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