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437 Midland Avenue #39, 
Syracuse, NY 13202

$680,000


8

Beds


Bath


9,000

Sq Ft


Multi-Family

Sold

Listed by

Dante Belmonte

Bought with Real Broker NY LLC

Hunt Real Estate ERA

315-682-7197

MLS#

S1578128

Source:

NY GENRIS

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About This Home

437 Midland Avenue #39

Great opportunity to own a well maintained 8-unit apartment building. All units are identical 2 bedroom/1 bathroom, just shy of 1,000 square feet each. The entire roof is only 3 years only & about 80% of all hot water tanks and furnaces are 1-2 year old. Property has a majority of CapEx into the property complete with no deferred maintenance at play here. Each tenant pays for their own gas/electric and has their own hot water tank and furnace. In the basement there is a coin operated washer/dryer set for additional income that conveys and is tied into the 9th house electric meter. Brick exterior is facade not structural. Property on the sides ends at the driveway coming up and the fenced in grass area. Plenty of parking out back for the tenants with the newly paved parking area. Great opportunity to bring rents up to market rate of $1,200+ per unit. NOI is currently ~$73,351 offering this property at a 10.79% cap rate based on the current pricing guidance. NOI at market rents would be $87,408 or a 12.95% cap rate. Property is ran extremely efficiently and brings in strong cashflow.

Home Facts

Multi-Family

8 Bedrooms

Built in 1960

Price Summary

680,000

$75 per Sq. Ft.

MLS #:

S1578128

Sold:

March 5, 2025


Rooms & Interior

Bedrooms

Total Bedrooms:

8

Interior

Living Area:

9,000 Sq. Ft.


Structure

Structure

Building Area:

9,000 Sq. Ft.

Year Built:

1960


Lot

Lot Size (Sq. Ft):

16,561


Finances & Disclosures

Finances

Price:

$680,000

Price per Sq. Ft:

$75 per Sq. Ft.

Source:NY GENRIS
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