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Skye View Heights 501 E Franklin St 54 Unit Apartment Building $12,499,900 ($231,480/Unit) 6.31% Cap Rate Endicott, NY 13760
Investment Highlights
- 54 units for 55+ independent living
- 100% occupancy with waiting list
- Turnkey investment with rent-improvement potential
- Convenient location close to shopping, restaurants and medical care
- Beautiful low-maintenance units
Executive Summary
Discover this premier development in Endicott, an unrivaled investment opportunity in Broome County. Featuring 54 units of 55+ housing, Skye View Heights is ready for new owners. Invest now in this growing asset class; the need for adult independent living will only continue to rise. These communities have very low vacancy rates nationwide, and Skye View Heights is no exception. Pristine units boast renovated interior spaces, modern kitchens and baths, laundry, private garages, fireplaces, patios, spacious bedrooms and more. A stable clientele call these buildings home, and owners report no evictions, but rather have a waiting list for occupants. Between the current performance, ability to increase income, and additional development parcels available, this one is a home run.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $12,499,900 | Building Class | B |
| Price Per Unit | $231,480 | Lot Size | 12.81 AC |
| Sale Type | Investment | Building Size | 29,900 SF |
| Cap Rate | 6.31% | Average Occupancy | 100% |
| No. Units | 54 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 2012/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.8/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | SSF | ||
| Price | $12,499,900 |
| Price Per Unit | $231,480 |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 12.81 AC |
| Building Size | 29,900 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 2012/2024 |
| Parking Ratio | 0.8/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | SSF |
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Dock
- Freezer
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 47 | - | - |
| 3+2 | 1 | - | - |
1 1
Walk Score®
Very Walkable (75)
Property Taxes
| Parcel Number | 034601-157-005-0005-022-000-0000 | Total Assessment | $1,200 |
| Land Assessment | $1,200 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2024 |
Property Taxes
Parcel Number
034601-157-005-0005-022-000-0000
Land Assessment
$1,200
Improvements Assessment
$0
Total Assessment
$1,200
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Skye View Heights | 501 E Franklin St
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