1000 Bellevue Avenue, Syracuse

$2,099,900

18 Beds
0 Baths
21,280 Sqft
.17 Acres
0 Garages

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.

Essential Information
MLS® #S1522594
Price$2,099,900
Bedrooms18
Bathrooms0.00
Square Footage21,280
Square Footage7326
Acres0.17
Year Built1940
TypeCommercial Sale
Sub-TypeOther
StatusActive
Community Information
Address1000 Bellevue Avenue
AreaSyracuse City
SubdivisionNear Westside
CitySyracuse
CountyOnondaga
StateNY
Zip Code13204
Amenities
ParkingNo Garage, None
GaragesNo Garage, None
Utilities

Sewer Connected, Water Connected, Water, Hot Water

Features

Near Public Transit, Residential Lot

Interior
InteriorOther, See Remarks
HeatingGas, Forced Air
# of Stories4
Stories4
Has BasementYes
BasementFull, Partially Finished
Appliances

Appliances Negotiable, Gas Water Heater

Exterior
ExteriorBrick
Exterior FeaturesSee Remarks
RoofFlat
ConstructionBrick
Lot Description

Near Public Transit, Residential Lot

School Information
DistrictSyracuse
Listing Details
Listing Courtesy of Hunt Real Estate Era
Office #315-488-2926
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