8-Unit Apartment
For Sale
$3,050,000
1215-29 James Street, Syracuse, NY 13203
Eight townhouse residences include private courtyards, attached garages, and in-unit laundry.
Property Size21,420 SF
Price / SF$142.39
Days on Market8
Property Features for 1215-29 James Street
General Information
Standard status
Active
Size
21,420 SF
Property subtype
Multi Family Home
Units
Unit Mix
8 x 3BR/2.5BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$16,747
Amenities
Ceiling Fan(s)
Sliding Glass Door(s)
Storage
Bedroom on Main Level
Blacktop Driveway
Balcony
Building Details
Building Size
21,420 SF
Year Built
1980
Stories
3
Units
8
Listing Agency:
Ciciarelli Real Estate LLC
Listed By:
Dominick Joseph Ciciarelli
(315) 727-0145
Source:
Geracerealty
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 23 at 2:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ciciarelli Real Estate LLC
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Investment Insights
Based on property information with market context.
This Syracuse apartment property contains eight residential townhouse units, built in 1980. Each residence has three bedrooms, two and a half bathrooms, a private two-car garage, and an in-unit washer and dryer. Individual outdoor courtyards provide private exterior space for each unit.
Key Highlights
- Eight townhouse units, each with 3 bedrooms and 2.5 bathrooms
- Private 2‑car garage for every residence
- In‑unit washer and dryer in each townhouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,240
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,044,800
$4.0M
Cap Rate 7%
$2,889,143
$2.9M
Cap Rate 9%
$2,247,111
$2.2M
Market Conditions
NOI Build-Up for 21,420 SF
Gross rent
$393.3K $18.36/SF
− Vacancy
−$25.6K −$1.19/SF
EGI
$367.7K $17.17/SF
− OpEx
−$165.5K −$7.72/SF
NOI
$202.2K $9.44/SF
Area
Syracuse, NY
Vacancy
6.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,044,800
Cap Rate 7%
$2,889,143
Cap Rate 9%
$2,247,111
Alternative Uses
Best Use
Apartment 5plus
$2.89M
$2.53M – $3.37M
NOI $202,240 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.72M
$3.26M – $4.34M
NOI $260,577 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
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Business Placement
Demographics for 13203, NY
16,240
Population
9,092
Households
1.8
Avg Household Size
37
Median Age
28%
College-Educated
84%
High-School Grad
1.7 sq mi
ZIP Area
9,553
Density / Sq Mi
$46,526
Median Household Income
$38,240
Median Earnings
$953
Median Rent
$148,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight townhouse residences include private courtyards, attached garages, and in-unit laundry.
Where is this apartment building located?
The property is located at 1215-29 James Street Syracuse, NY.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: Eight townhouse units, each with 3 bedrooms and 2.5 bathrooms; Private 2‑car garage for every residence; In‑unit washer and dryer in each townhouse
