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- LoopNet Team
648 W Onondaga St
Syracuse, NY 13204
Faith & Hope Manor · Multifamily Property For Sale
·
60 Units
PROPERTY FACTS
| No. Units | 60 | Lot Size | 0.76 AC |
| Property Type | Multifamily | Building Size | 31,980 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1940 |
| Building Class | C | Parking Ratio | 0.67/1,000 SF |
| Zoning | 07- Mixed | ||
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 31,980 SF |
| No. Stories | 4 |
| Year Built | 1940 |
| Parking Ratio | 0.67/1,000 SF |
| Zoning | 07- Mixed |
AMENITIES
SITE AMENITIES
- Laundry Facilities
ABOUT 648 W ONONDAGA ST , SYRACUSE, NY 13204
Faith & Hope Manor apartments is a multifamily value-add investment opportunity located in Syracuse, NY. The property consists of two identical buildings with 30 units in each building. The unit mix is comprised of 14 studios, 32 one-bedrooms and 14 two-bedrooms. Tenants pay all their own utilities. There is immediate rental upside opportunity by pushing rents up to market and making use of the existing laundry facilities. The new owner will also have the ability to extract additional rent premiums through interior and exterior renovation programs. The property is conveniently located within minutes of downtown Syracuse. It is a qualified Opportunity Fund Investment which allows an investor to reinvest capital gains from the sale of real estate or another investment for capital gains tax advantages.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 14 | $500.00 | - |
| 1+1 | 32 | $700.00 | - |
| 2+1 | 14 | $750.00 | - |
PROPERTY TAXES
| Parcel Number | 311500-093-000-0002-034-000-0000 | Improvements Assessment | $658,000 |
| Land Assessment | $52,000 | Total Assessment | $710,000 |
PROPERTY TAXES
