221 N Prospect Street
Property Description
Excellent investment opportunity in a convenient location! This well-maintained five-unit apartment building offers a desirable mix of units, including three one-bedroom apartments, one studio, and one two-bedroom apartment. The property features a relatively new roof and has been well cared for, making it an appealing addition to any investment portfolio.All five units are currently rented, providing immediate income, while the current rents offer significant upside potential for a new owner. With rents positioned below current market potential, there is an opportunity to increase income and improve the property's overall cash flow over time.The location is hard to beat, with direct access to Herkimer College and all of the village's amenities within easy travel distance. Tenants also benefit from six dedicated parking spaces.Whether you're looking to expand your rental portfolio or seeking a property with strong potential to increase revenue, this five-unit property offers location, condition, existing income, and plenty of room for growth.
Broker Details
Faith Properties, Inc. (315) 447-1351
MLS ID: sroy State License Number: 40RO1105903
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $209,900 |
| No. of Units: | 5 |
| Year Built: | 1974 |
| Lot Size: | 5,652.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $41,980 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 0 |
ID: 3yd-BNARNY-S1718194
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
2110 N 57TH Street
PHILADELPHIA, Pennsylvania
4525 N 19TH Street
PHILADELPHIA, Pennsylvania
2033 MCKEAN Street
PHILADELPHIA, PennsylvaniaBrokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout