36 Unit Apartment Complex | 1310 Park St
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36 Unit Apartment Complex 1310 Park St
36 Unit Apartment Building $3,596,400 ($99,900/Unit) 7.48% Cap Rate Syracuse, NY 13208
INVESTMENT HIGHLIGHTS
- 100% occupancy has been consistent for over 4 straight years.
- Each Building has Washer and Dryers
- Newer high efficiency boilers in all 3 buildings
- Decks available for 2nd and 3rd floor units
EXECUTIVE SUMMARY
Established 36-unit apartment complex had 100% occupancy in 2022, 2023, 2024 and currently 100% for 2025.
Based on 2025 Proforma Income (rent increases planned for 7/1/25)and actual Expenses, asking Cap Rate is 7.48%.
This offering is priced at $99,900 per unit.
Based on Rent Roll of February 1 2025, the current actual Cap Rate is 6.7%
Based on 2025 Proforma Income (rent increases planned for 7/1/25)and actual Expenses, asking Cap Rate is 7.48%.
This offering is priced at $99,900 per unit.
Based on Rent Roll of February 1 2025, the current actual Cap Rate is 6.7%
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,596,400 | Building Class | C |
| Price Per Unit | $99,900 | Lot Size | 1.25 AC |
| Sale Type | Investment | Building Size | 30,000 SF |
| Cap Rate | 7.48% | Average Occupancy | 100% |
| No. Units | 36 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Apartment Style | Low Rise | Cross Streets | Danforth St |
| Price | $3,596,400 |
| Price Per Unit | $99,900 |
| Sale Type | Investment |
| Cap Rate | 7.48% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.25 AC |
| Building Size | 30,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1965 |
| Parking Ratio | 1.33/1,000 SF |
| Cross Streets | Danforth St |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- Laundry Facilities
- Picnic Area
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $950.00 | 700 |
| 2+1 | 30 | $1,250 | 800 |
| Studios | 3 | $850.00 | 500 |
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Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 311500-007-000-0021-017-000-0000 | Total Assessment | $1,080,000 (2023) |
| Land Assessment | $50,100 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,029,900 (2023) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
311500-007-000-0021-017-000-0000
Land Assessment
$50,100 (2023)
Improvements Assessment
$1,029,900 (2023)
Total Assessment
$1,080,000 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
ZONING
| Zoning Code | 2 |
| 2 |
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36 Unit Apartment Complex | 1310 Park St
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