NPL: Ballantyne Gardens | Value-Add NY Multifamily

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Address: 161 Ballantyne Rd, Syracuse, NY 13205, USA

New York & Tri-State + Apartment Buildings

Created date: October 31, 2024

Date last updated: October 31, 2024

RI Marketplace Online Auction Dec 9-11, 2024

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Investment Highlights

Significant Upside through management, renovations and lease up
High Demand For Apartments in Urban and Suburban Syracuse
140 Units Good Mix of 1, 2, and 3 Bedrooms
Unit square footage range of approximately 700 – 1,200 square feet
Excellent street exposure on Ballantyne Road
Located less than 3 miles south of Downtown Syracuse/Syracuse University

Property Description

SVN Stora Realty, in conjunction with RI Marketplace, are proud to present the note sale on the asset Ballantyne Garden Apartments . Ballantyne Garden Apartments is a multifamily apartment complex with excellent street exposure on Ballantyne Road and features 125,250 square feet and 140 units. Units include a mixture of 1, 2, and 3 bedroom apartments. Units range from approximately 700 - 1200 square feet. LOCATION DESCRIPTION Ballantyne Garden Apartments are located on Ballantyne Road in Syracuse, NY between Midland Avenue and South Salina Street. The 140 unit garden-style apartment property is located less than 3 miles south of Downtown Syracuse/Syracuse University and 11 miles from the Syracuse Hancock International Airport. Syracuse is home to approximately 150,000 people, with a high demand for Suburban housing. The Syracuse housing market is the fifth largest in the state. Apartment rental rates were rising at a 3.5% annual rate during the 2024. Ralph Passono, Jr. c/o Fisher Auction Company Inc. License: 1 NY Broker No.:10311203946

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Key Property Information

Listing Status:	Available
Listing Type:	Auction
Property Types:	Apartment Buildings
No. of Units:	140
Average Occupancy:	46.4
Year Built:	1964
Year Renovated:	2014
Building Size:	125,250 Sq ft
Lot Size:	-2.00 Acres
No. of Stories:	3
Opportunity Zone:	No
Property Website	Click Here