322 W Franklin St
- High-performing multifamily asset with a 10% cap rate, 1.57 DSCR, 15% cash on cash year one, solid rental history, and low electricity costs to tennants through Municipal Electric.
- Turnkey investment featuring updated electrical, new coin-operated laundry income, tenant-paid electric, and one vacancy for immediate lease-up or value-add upside.
- Prime Endicott location in a growing submarket with strong renter demand, stable occupancy, and recent appraisal of $350,000 supporting value.
Property Description
Back on the market due to buyer default, this well-maintained 4,176 SF, 6-unit multifamily building presents a high-yield investment opportunity in the rapidly growing Endicott market. Built in 1971 and located in the desirable Urban Single-Family (USF) Zone, the property offers strong cash flow, stable tenancy, and long-term appreciation potential. Each spacious unit attracts quality tenants and supports a solid rental history, with one current vacancy offering immediate lease-up or value-add upside. Recent upgrades include updated electrical throughout, placement within the Municipal Electric Zone for reduced cost to tenants, and a new coin-operated laundry system that generates additional income. Tenants pay electric, and the landlord pays heat. Financial highlights include a 10% cap rate, 1.57 DSCR, and an appraisal of $350,000, with both an inspection report and loan opinion letter from Dansker Capital Group available upon request, making this a turnkey, income-producing multifamily asset in one of Endicott’s most promising submarkets.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $340,000 |
| No. of Units: | 6 |
| Year Built: | 1971 |
| Lot Size: | 0.24 Acres |
| Opportunity Zone: | No |
| Price per unit: | $56,667 |
| Property Website | Click Here |
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