710 E Laurel Street Syracuse, NY 13203
With nearly $25, 000/year gross income and no rent collection hassles, this is the stabilized, high-cashflow property you’ve been looking for. No matter what metric you use: cash on cash, cap rate, monthly cashflow, this property is a winning turnkey investment. The 1st floor is leased for $1, 049/mo and the 2nd floor is leased for $1, 000/mo to a long-term tenant. Gas and electricity are separately metered and are the tenants’ responsibility. Both units are rented to vetted sec. 8 tenants, rent is direct deposited on the 3rd of every month with the tenant share paid separately and promptly. With a historic shortage of apartment housing in Syracuse, these units are in high demand. Tenants love the spacious 2 bedroom, 1100+ sf apartments and the convenient Northside location close to bus lines, downtown, Little Italy, and St. Joe’s Hospital. This has been a profitable investment for the current owner for many years, but the owner is now retiring, offering a great opportunity to add a high cashflow/low risk property to your portfolio. Can be combined with 136 Lakeview Ave for over $56, 000 annual rent, or further combined with 325 Liberty St for over $128, 000 in income per year!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyOnondaga
- Taxes$2,574
- HOA/Condo/Coop Fees$0
- Days on Site14 Days
- MLS StatusActive
- MLS ID NumberS1538660
- Home Size Source Public Records
- Year Built1900
- Lot Size0.0924 Acres
- Full Baths2
- Partial BathsN/A
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General Features
- Style Duplex
- Construction Vinyl Siding
- Parking No Driveway
- Electric Circuit Breakers
- Basement Full
- Number of Stories 222
- Acreage 0.0924
- Water Public
- Cross Street Lodi St
- Property Sub Type Multi Family
- Garage Spaces 0
- Utilities Cable AvailableSewer ConnectedWater Connected
- Foundation Stone
- Listing Conditions Standard
Interior Features
- Heating GasForced Air
- Appliances Gas Water Heater
- Flooring HardwoodVariesVinyl
- Fireplaces 0
- Fireplace No
Exterior Features
- Roof Flat
- Fencing Partial
- Waterfront Property No
- Exterior Fence
- Lot Near Public Transit
- Road Frontage City Street
Community Features
- Township Not Applicable
- Senior Community No
- MLS Area Syracuse City-311500