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Triplex Investment Property 571 Southside Dr 3 Unit Apartment Building $274,900 ($91,633/Unit) 6.37% Cap Rate Oneonta, NY 13820
Investment Highlights
- Large Pole Barn
- Great Location
- Three Apartments in Oneonta
Executive Summary
Looking to expand your rental portfolio? Need a large pole barn with plenty of clearance? This clean, well-maintained triplex offers immediate income with room to grow AND a large pole barn, making it a smart addition for investors and contractors seeking cash flow and long-term value in a prime Oneonta location. Rents are under market rate by about 30 to 35% which offers great opportunities for increased cash flow. Situated on a spacious 1.03-acre lot, this property features three well maintained rental units, off-street parking, and a large pole barn ideal for storage, equipment, or additional income potential. The covered front porch and expansive yard add curb appeal and tenant satisfaction, while a private deck at the back offers the top two apartments additional outdoor living space. The unit mix includes a spacious two-bedroom, one-bath apartment downstairs along with two additional one-bedroom, one-bath apartments upstairs. The lower level also attaches to a one car garage. This property checks the boxes investors look for: an excellent location close to local amenities, a clean and well-maintained condition that's move-in ready for tenants, and real room for improved cash flow through strategic upgrades. Whether you're a seasoned investor or just starting to build your rental portfolio, this triplex delivers the fundamentals: solid bones and a great location.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$27,120
|
$5.42
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$27,120
|
$5.42
|
| Taxes |
$5,462
|
$1.09
|
| Operating Expenses |
$3,665
|
$0.73
|
| Total Expenses |
$9,127
|
$1.83
|
| Net Operating Income |
$17,993
|
$3.60
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $27,120 |
| Annual Per SF | $5.42 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $27,120 |
| Annual Per SF | $5.42 |
| Taxes | |
|---|---|
| Annual | $5,462 |
| Annual Per SF | $1.09 |
| Operating Expenses | |
|---|---|
| Annual | $3,665 |
| Annual Per SF | $0.73 |
| Total Expenses | |
|---|---|
| Annual | $9,127 |
| Annual Per SF | $1.83 |
| Net Operating Income | |
|---|---|
| Annual | $17,993 |
| Annual Per SF | $3.60 |
Property Facts
| Price | $274,900 | Property Subtype | Apartment |
| Price Per Unit | $91,633 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.00 AC |
| Cap Rate | 6.37% | Building Size | 5,000 SF |
| Gross Rent Multiplier | 10 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1840 |
| Price | $274,900 |
| Price Per Unit | $91,633 |
| Sale Type | Investment |
| Cap Rate | 6.37% |
| Gross Rent Multiplier | 10 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 5,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1840 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $1,048 | - |
| 1+1 | 2 | $855.00 | - |
| 1+1 | 3 | $825.00 | - |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 364600-300-000-0003-052-001-0000 | Total Assessment | $172,300 |
| Land Assessment | $23,900 | Annual Taxes | $5,462 ($1.09/SF) |
| Improvements Assessment | $148,400 | Tax Year | 2025 |
Property Taxes
Parcel Number
364600-300-000-0003-052-001-0000
Land Assessment
$23,900
Improvements Assessment
$148,400
Total Assessment
$172,300
Annual Taxes
$5,462 ($1.09/SF)
Tax Year
2025
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Triplex Investment Property | 571 Southside Dr