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8385 Geneva St 6 Unit Apartment Building $595,000 ($99,167/Unit) 9% Cap Rate Interlaken, NY 14847
Investment Highlights
- Well maintained apartment building with great potential for growth!
- Completely remodeled in 2016 this property Currently is set up with six 2 bedroom apartments at very affordable rents where tenants pay all utilities.
- Located in the the heart of The Cayuga Wine Trail where over 1,000,000 tourists visit per year!!
Executive Summary
Don't miss this Unique opportunity to own a clean, well maintained apartment building with great potential for growth! Located in the the heart of The Cayuga Wine Trail where over 1,000,000 tourists visit per year!! Centrally located within The Fingerlakes region with access to a variety of attractions including The Seneca Wine trail, Taughannock Falls State Park, Cayuga Lake State Park, Cornell University with all the amenities of Ithaca and The quaint Village's of Interlaken and Trumansburg!!! Completely remodeled in 2016 this property Currently is set up with six 2 bedroom apartments at very affordable rents where tenants pay all utilities. The apartments feature hardwood floors, in unit washer and dryer's, modern kitchens, and baths and more!! This property has room for expansion that could offer a great deal of extra income. Truly a special property for an Investor with Vision or someone looking for a turn key investment! OWNER IS A LICENSED NYS REAL ESTATE BROKER
Property Facts
| Price | $595,000 | Building Class | C |
| Price Per Unit | $99,167 | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 7,512 SF |
| Cap Rate | 9% | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1950/2016 |
| Property Type | Multifamily | Parking Ratio | 5.32/1,000 SF |
| Property Subtype | Apartment |
| Price | $595,000 |
| Price Per Unit | $99,167 |
| Sale Type | Investment |
| Cap Rate | 9% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 7,512 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2016 |
| Parking Ratio | 5.32/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Not walkable
10/100
Exceptionally drivable
90/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 452001-003-000-0001-046-000-0000 | Improvements Assessment | $299,900 |
| Land Assessment | $30,100 | Total Assessment | $330,000 |
Property Taxes
Parcel Number
452001-003-000-0001-046-000-0000
Land Assessment
$30,100
Improvements Assessment
$299,900
Total Assessment
$330,000
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8385 Geneva St