Oneonta Multi-Unit Investment
7-9 Weidman Pl, Oneonta, NY 13820
Multi-Unit (5+) - Oneonta, NY
Property size:
6,600 SFLot size:
0.39 AcresPrice / SF:
$94/SF- Added:
- Aug 26, 2025
- Days on Market:
- 289
- Last Refresh:
- Jun 10 at 11:06 am
Property Features for 7-9 Weidman Pl
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 7
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Kitchen
- Parking features
- Garage
- Basement Y/N
- 1
- Standard status
- Active
- APN
- 288.17-3-11
- Size
- 6,600 SF
- Lot size
- 0.39 Acres
Taxes and HOA fees
- Tax Annual Amount
- 14177
Utilities
- Heating system
- Natural Gas
Building Details
- Year built
- 1900
- Year renovated
- 1900
- Floors in Building
- 2
- Flooring type
- Carpet, Hardwood, Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Jessie Grigsby (607) 432-4391
Listing office BENSON AGENCY REAL ESTATE LLC 1 GRAND ST, ONEONTA, NY (607) 432-4391
Listing date Aug 26, 2025
MLS# 11563024
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Projected income of $107,400 with solid rental history.
- Six units with a total of 16 bedrooms and 7 bathrooms, offering diverse rental options.
- Furnished apartments with a mix of two, three, and four‑bedroom units.
- Great location close to both colleges, a block to a bus stop, and a short walk to Main Street.
- Recent improvements including a new sewer line to the street and updated laundry areas.
- COC in place and includes 2 parcels.
Overview
This multi-unit property in Oneonta, NY, features six units comprising a total of 16 bedrooms and 7 bathrooms. The property has a solid rental history and is conveniently located near both colleges, a block from a bus stop, and a short walk to Main Street, with ample parking available. The unit mix includes three two-bedroom apartments, two three-bedroom apartments, and one four-bedroom apartment, all furnished. A new boiler was installed in 2010. Common laundry facilities are located in the basement, with two additional laundry areas upstairs, one new in 2017 and another in 2023. A Certificate of Compliance (COC) is in place. The property includes two parcels. Apartment 1, a two-bedroom unit, is leased at $1050 per month through 12/31/25. Apartment 2, a two-bedroom unit, is leased at $1250 per month through 9/30/25. Apartment 3, a three-bedroom unit, is leased at $1650 per month through 5/30/26. Apartment 4, a two-bedroom unit, is leased at $1250 per month through 5/31/26. Apartment 5, a three-bedroom unit, is rented month-to-month at $1250 per month. Apartment 6, a four-bedroom unit, is leased at $3750 per student per semester through 5/17/26. The projected income is $107,400, with expenses of $54,717, including a $9,762 management fee. Recent improvements include a new laundry area and a new sewer line to the street. The property is situated on a 0.39-acre lot and the building size is 6600 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.0k | $15.60 |
| − Vacancy | −$5.1k | −$0.78 |
| EGI | $97.8k | $14.82 |
| − OpEx | −$44.0k | −$6.67 |
| NOI | $53.8k | $8.15 |
6,600 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$768.5K
$672.5K – $896.6K
NOI $53,797 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,354 @ 7.0% cap · market cap 20.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Oneonta
- County
- Otsego
- State
- New York
- Longitude
- -75.066185
- Latitude
- 42.460027
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit property near colleges with solid rental history.
Where is this apartment building located?
The property is located at 7-9 Weidman Pl Oneonta, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Projected income of $107,400 with solid rental history.; Six units with a total of 16 bedrooms and 7 bathrooms, offering diverse rental options.; Furnished apartments with a mix of two, three, and four‑bedroom units.
