USANYChittenango2369 State Route 5
2369 State Route 5, Home with 8 bedrooms, 0 bathrooms and null parking in Chittenango NY | Image 1
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$400,000

2369 State Route 5, Chittenango, NY

Real Estate

For Sale

$--,---,---
800
  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 8618 sqft
Garage No
Maintenance Fees 
Taxes $2,191
Days Active 16
Approx. Age 1947
Avg. Price Per Sqft $46
MLS® Number S1622054

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Former Motel Turned 9-Unit Apartment Complex – Value-Add Opportunity! Now offered for sale, this former roadside motel has been converted into a 9-unit apartment building, primarily consisting of one-bedroom units. Situated on a spacious lot with 20+ parking spaces, this property is serviced by well and septic, minimizing utility expenses and infrastructure costs. All units are heated by baseboard boiler. There are two gas boilers which the landlord pays for and the property has upgraded electrical which the landlord also pays for. There are new coin-operated laundry machines which brings in about $140 additional income per month. The property offers a prime opportunity for investors to reposition and increase income even higher. With the right upgrades, there’s significant upside potential through improved rents to market rate. With lots of drive-by traffic, occupancy has been at 100% year after year minimizing turnover as all of the same tenants have been at this property for 5+ years. Located in a rural yet accessible area, this property is ideal for investors looking to bring an additional asset into their portfolio at a fraction of the cost of anything else on the market!Show Description
MLS® NumberS1622054
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
ExteriorGravel Driveway
GarageNo
Approx. Age1947
Stories1
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatGas, Baseboard
A/C
Heating Fuel

Extras

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