Joseph Viscomi, President
Joseph Viscomi, President
Realty Boom, Joseph Viscomi, PresidentPhone: (315) 263-3141
Email: [email protected]
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listing
1 of 21
CommercialFor Sale
$2,099,900
1000 Bellevue Avenue
Syracuse, NY 13204
Listed by: Hunt Real Estate Era, 315-488-2926
MLS: New York State Alliance
18Beds
21,280Sq Ft
Est. Mortgage
$10,939/mo

Welcome to 1000 Bellevue, a meticulously maintained property offering an exceptional investment opportunity. This 18-unit has been thoughtfully managed and optimized for a seamless transition. Extensive work has been done to enhance the property's value and reduce maintenance costs. The pro forma outlines significant revenue growth opportunities. With 16 2-bed units currently renting at $1,100, owner has converted 3 of them into 3 bed units, capturing market rents of $1,380. This leaves the remaining 13 units for the new owner. This will increase rental income by $$4,480 a month and $53,760. Additionally, $21,600 can be added from a basement storage area that can be built out for tenant use per $100 per unit. With a current NOI of $17900 and a pro forma NOI of $240,000, the property offers solid returns. Various cap rate scenarios ranging from 8%-9% present attractive investment options to buy with existing equity already built in. Don't miss this opportunity to acquire a turnkey investment with significant upside.

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Information courtesy of Hunt Real Estate Era is subject to verification and is not guaranteed.
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