80 Broad St - College Housing- Broad Street Plattsburgh, NY 9,356 SF Specialty Building Offered at $1,200,000 at a 10.83% Cap Rate in Plattsburgh, NY 12901
INVESTMENT HIGHLIGHTS
- Walking distance to SUNY Plattsburgh
- Well maintained- no deferred maintenance
- On-site laundry
- Off-street parking!
EXECUTIVE SUMMARY
Prime Student Housing Opportunity Near SUNY Plattsburgh Campus
• Situated on the primary student housing strip very close to SUNY Plattsburgh, 80 Broad Street offers an exceptional investment opportunity. This property is ideally located, providing convenient access to the wide array of amenities that Plattsburgh offers its college students.
• The site includes two well-maintained buildings with a combined area of approximately 9,356 square feet, capable of accommodating up to 32 students. With this capacity, the property is poised to generate substantial rental income, appealing to both students and investors alike.
• Both buildings feature vinyl siding, roofs in good condition, and a paved parking area, ensuring long-term value and ease of maintenance. The attractive location and comfortable living conditions make this an ideal choice for students seeking quality housing.
• For investors, this property presents a prime addition to any income-generating portfolio.
• Situated on the primary student housing strip very close to SUNY Plattsburgh, 80 Broad Street offers an exceptional investment opportunity. This property is ideally located, providing convenient access to the wide array of amenities that Plattsburgh offers its college students.
• The site includes two well-maintained buildings with a combined area of approximately 9,356 square feet, capable of accommodating up to 32 students. With this capacity, the property is poised to generate substantial rental income, appealing to both students and investors alike.
• Both buildings feature vinyl siding, roofs in good condition, and a paved parking area, ensuring long-term value and ease of maintenance. The attractive location and comfortable living conditions make this an ideal choice for students seeking quality housing.
• For investors, this property presents a prime addition to any income-generating portfolio.
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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
|
PROPERTY FACTS
| Price | $1,200,000 |
| Price Per SF | $128.26 |
| Sale Type | Investment |
| Cap Rate | 10.83% |
| Sale Condition | 1031 Exchange |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 9,356 SF |
| No. Stories | 2 |
| Year Built | 1983 |
| Opportunity Zone |
Yes |
| Zoning | RH - Residential |
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PROPERTY TAXES
| Parcel Number | 091300-207-018-0005-031-000-0000 | Total Assessment | $900,000 |
| Land Assessment | $27,800 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $872,200 | Tax Year | 2024 |
