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Winthrop Apartments 632 & 626 State Highway 11C Hwy 13 Unit Apartment Building $565,000 ($43,462/Unit) Winthrop, NY 13697
EXECUTIVE SUMMARY
Back on market due to no fault of the property - Excellent Investment Opportunity – Fully Occupied 13-Unit Multifamily on Corner Lot
Welcome to this outstanding investment opportunity featuring two multifamily buildings with a total of 13 fully rented units, situated on a corner lo. This well-maintained property offers a strong rental history, consistent income, and a projected capitalization rate of approximately 11% at the current listing price—making it a smart, low-risk addition to any investor’s portfolio. Recent updates by the current owners include a new rubber roof and new hot water heater at the 626 building, along with renovations to approximately half of the units, enhancing overall tenant satisfaction and reducing maintenance costs. The parking areas have been expanded and upgraded to accommodate tenants and guests with ease. With all units currently rented and improvements already completed, this property presents immediate cash flow and minimal upfront work. Whether you’re a seasoned investor or new to multifamily real estate, this turnkey property is an exceptional opportunity in a growing market. Don't miss this chance to add a high-performing asset to your real estate portfolio. Schedule your private showing today! Additional notes: There are 8 electric meters, 6 of the apartments pay their own electric. All other utilities are covered by the building owner.
Welcome to this outstanding investment opportunity featuring two multifamily buildings with a total of 13 fully rented units, situated on a corner lo. This well-maintained property offers a strong rental history, consistent income, and a projected capitalization rate of approximately 11% at the current listing price—making it a smart, low-risk addition to any investor’s portfolio. Recent updates by the current owners include a new rubber roof and new hot water heater at the 626 building, along with renovations to approximately half of the units, enhancing overall tenant satisfaction and reducing maintenance costs. The parking areas have been expanded and upgraded to accommodate tenants and guests with ease. With all units currently rented and improvements already completed, this property presents immediate cash flow and minimal upfront work. Whether you’re a seasoned investor or new to multifamily real estate, this turnkey property is an exceptional opportunity in a growing market. Don't miss this chance to add a high-performing asset to your real estate portfolio. Schedule your private showing today! Additional notes: There are 8 electric meters, 6 of the apartments pay their own electric. All other utilities are covered by the building owner.
PROPERTY FACTS
| Price | $565,000 | Building Class | C |
| Price Per Unit | $43,462 | Lot Size | 0.41 AC |
| Sale Type | Investment | Building Size | 7,632 SF |
| No. Units | 13 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1950 |
| Price | $565,000 |
| Price Per Unit | $43,462 |
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 7,632 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1950 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Refrigerator
- Oven
- Range
- Carpet
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | - | - |
| 2+1 | 2 | - | - |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $161,700 | |
| Land Assessment | $11,300 | Total Assessment | $173,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$11,300
Improvements Assessment
$161,700
Total Assessment
$173,000
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King Realty NNY
Winthrop Apartments | 632 & 626 State Highway 11C Hwy
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