Triplex with Vacant Front
1011 Gotham Street Watertown, NY 13601
For Sale
$279,000
MULTI_FAMILY - Watertown, NY
Property Size2,595 SF
Lot Size0.93 Acres
Price / SF$107.51
Days on Market263
Property Features for 1011 Gotham Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Rooms
Bedroom 6, Bedroom 7, Bedroom 3, Bathroom 2, Bathroom 1, Basement, Bedroom 1, Bedroom 5, Bedroom 2, Bathroom 3, Bedroom 4
Interior features
CathedralCeilings, NaturalWoodwork
Exterior features
PrivateYard
Appliances
GasWaterHeater
Standard status
Active
APN
221800-013-000-0002-322-000-0000
Size
2,595 SF
Lot size
0.93 Acres
Taxes and HOA fees
Tax Annual Amount
3393
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1850
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Carpet, Vinyl, Varies
Building materials
Frame, Stone, VinylSiding
Roof type
Shingle
Listing Agency:
Berkshire Hathaway HomeServices CNY Realty Watn
(315) 232-7355
Listed By:
Aaron Naklick · License #10401373314
(315) 778-1717
Added: Nov 9, 2025
Changed: Jul 22
Last Checked: Jul 30 at 6:06AM
MLS# S1650017
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained triplex offers three apartment units in one building, with two 2-bedroom, 1-bath units and one 3-bedroom, 1-bath unit. The units are described as having comfortable layouts and abundant natural light. The property sits on a one-acre lot within the city limits, providing outdoor space that can support tenant use and parking needs.
Located at 1011 Gotham Street in Watertown, NY, the property is described as convenient to downtown as well as schools, shopping, and parks. The combination of city-limits placement and surrounding amenities can be attractive for tenants seeking practical access to daily needs.
From a leasing or owner-occupant standpoint, the current vacancy of two front units provides an opportunity for immediate occupancy or personal updates, while the third unit remains in place. This configuration may appeal to buyers looking for income-producing residential units within a single property, paired with a larger lot for day-to-day operations and outdoor space.
Located at 1011 Gotham Street in Watertown, NY, the property is described as convenient to downtown as well as schools, shopping, and parks. The combination of city-limits placement and surrounding amenities can be attractive for tenants seeking practical access to daily needs.
From a leasing or owner-occupant standpoint, the current vacancy of two front units provides an opportunity for immediate occupancy or personal updates, while the third unit remains in place. This configuration may appeal to buyers looking for income-producing residential units within a single property, paired with a larger lot for day-to-day operations and outdoor space.
Key Highlights
- Triplex on Gotham Street with three units: two 2‑bedroom, 1‑bath apartments and one 3‑bedroom, 1‑bath unit
- Set on a 1‑acre lot within city limits with a private yard and ample outdoor space
- Two front units are currently vacant, offering flexibility for new tenants or owner occupancy
Financial Insights For Multifamily LT 5
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 | $32.7k | $12.60 |
| − Vacancy | −$2.2k | −$0.84 |
| EGI | $30.5k | $11.76 |
| − OpEx | −$9.2k | −$3.53 |
| NOI | $21.4k | $8.23 |
2,595 SF · lease $12.60/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$305.2K
$267.1K – $356.1K
NOI $21,366 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$273.1K
$238.9K – $318.6K
NOI $19,114 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$715.3K
$625.9K – $834.6K
NOI $50,073 @ 7.0% cap · market cap 17.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three residential units, including two currently vacant, on a one-acre lot within city limits.
Where is this triplex located?
The property is located at 1011 Gotham Street Watertown, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Triplex on Gotham Street with three units: two 2‑bedroom, 1‑bath apartments and one 3‑bedroom, 1‑bath unit; Set on a 1‑acre lot within city limits with a private yard and ample outdoor space; Two front units are currently vacant, offering flexibility for new tenants or owner occupancy
