High-Performing Multifamily in University
125 Kensington & Lancaster Road, Syracuse, NY 13210
Residential Multi Family, Other - Syracuse, NY
Property size:
2,154 SFLot size:
0.12 AcresPrice / SF:
$143/SF- Added:
- May 18, 2026
- Days on Market:
- 12
- Last Refresh:
- May 29 at 8:06 pm
Property Features for 125 Kensington & Lancaster Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Standard status
- Active
- Size
- 2,154 SF
- Lot size
- 0.12 Acres
Building Details
- Year built
- 1915
- Architectural style
- Other
Listing agent Samantha Dougherty License #10311208735,PersonLicenseNumber (315) 882-4720
Listing office NextHome CNY Realty 110 Buchmans Close Cir., NY 315567HOME
Listing date May 18, 2026
MLS# S1679901
Listing URL
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High rental income: $3,600/month from two fully leased units.
- Prime location: University area, directly in front of Centro Bus Station, close to Syracuse University, hospitals, downtown, and parks.
- Corner‑unit multifamily with three stories, each with a private entrance.
- Approved additional living space: 700 sq ft added with a 4th bedroom and living room on the 3rd floor.
- Two dedicated parking spaces in the backyard.
- Renovated bathrooms in both units.
Overview
This three-story corner-unit multifamily property is located in the university area. It features three stories, each with a dedicated private entrance. The property generates $3,600 per month in combined rental income from two fully leased units. The ground-floor unit, featuring one bedroom and one bathroom, is leased at $1,400 per month through July 2027. The upper unit, with four bedrooms and one bathroom, commands $2,200 per month, and lease renewal discussions are underway, with two of the four rooms leased through July 2027. The City of Syracuse approved a fourth bedroom and living room with a sprinkler system on the third floor, adding 700 square feet of additional living space. Both units include a renovated bathroom, two dedicated parking spaces in the backyard, and ample natural light. The property is located near Syracuse University, major hospitals, downtown dining, shopping, and parks. The Centro Bus Station is directly in front of the property, with buses running every 10 minutes. The property is situated on a 0.12-acre lot and has a property size of 2154 square feet. This versatile property delivers reliable income and upside in one of Syracuse’s in-demand rental corridors.
Local 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 | $34.9k | $16.20 |
| − Vacancy | −$2.2k | −$1.00 |
| EGI | $32.7k | $15.20 |
| − OpEx | −$9.8k | −$4.56 |
| NOI | $22.9k | $10.64 |
2,154 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$327.4K
$286.5K – $382.0K
NOI $22,919 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$290.5K
$254.2K – $339.0K
NOI $20,337 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$374.3K
$327.6K – $436.7K
NOI $26,204 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Map
- City
- Syracuse
- County
- Onondaga
- State
- New York
- Longitude
- -76.1230316
- Latitude
- 43.0322762
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Three-story multifamily property near Syracuse University with strong rental income.
Where is this triplex located?
The property is located at 125 Kensington & Lancaster Road Syracuse, NY.
What is the asking price?
The asking price for this property is $309,800.
What are key features of this property?
This property features: High rental income: $3,600/month from two fully leased units.; Prime location: University area, directly in front of Centro Bus Station, close to Syracuse University, hospitals, downtown, and parks.; Corner‑unit multifamily with three stories, each with a private entrance.
