16 Elm Street
Property Description
Well established investor portfolio with strong occupancy and income history. This offering includes seven residential properties Norwich, NY with a total of 11 units - four 2-unit multi-families and three single family residences. The portfolio has also maintained very low vacancy and generates $147,600 in annual gross rental income, with net income of $84,300 (total expenses including 15% factor for Maintenance/Reserve/Vacancy). At a projected 9.12% capitalization rate it offers substantial current income along with potential to improve performance through property updates and future rent growth, or disposition of single family homes at a higher value than an investor rate may support. Property conditions are generally average, with some deferred maintenance presenting opportunities for an investor to add value. Each property is located within walking distance of local employers and everyday amenities, supporting continued rental demand. For a buyer seeking to expand an existing portfolio or acquire multiple income-producing properties in one transaction, this package merits a closer look.
Broker Details
Keller Williams Upstate New York Properties (607) 431-2540
MLS ID: OD1884 State License Number: 10301203604
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $925,000 |
| No. of Units: | 11 |
| Year Built: | 1890 |
| Lot Size: | 3,200.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $84,091 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 2 |
ID: 3yd-BNARNY-R1724460
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