Four-Family Residential Income
38-40 Cliff St Oneonta, NY 13820
38-40 Cliff St, Oneonta, NY, 13820
$375,000
Pending
For Sale
$375,000
Pending
Well-maintained four-unit setup with separate utilities, rear parking, and coin-op laundry serving ten total bedrooms.
Property Size3,100 SF
Days on Market34
Property Features for 38-40 Cliff St
General Information
- Standard status
- Pending
- Size
- 3,100 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1900
Listing Agency
Benson Agency Real Estate LLC
(607) 287-1559
Listed by
Rodger B Moran · License #30MO0797197
(607) 287-1559
Source
Elliman
Added: Jun 15 Checked: Jul 17 at 7:00 am
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 Benson Agency Real Estate LLC
Investment Insights
Based on property information with market context.
This quality-maintained four-family residence offers a total of 10 bedrooms across two 3-bedroom units and two 2-bedroom units. A spacious enclosed front entry porch serves all tenants, while the exterior features a rear second-floor deck for the two upper units and separate rear entry decks for each first-floor tenant. The property includes ample rear parking for tenants, in-unit dishwashers, and coin-operated laundry in the basement. The home was completely gutted in the 1990s, with electrical, plumbing, and wiring completed at that time, supporting a more straightforward maintenance profile.
The building is just minutes to downtown and city bus lines, with walkability rated at 78 and bikeability rated at 60. Utilities are separate, and the configuration is designed to keep day-to-day tenant operations independent.
For buyers or operators, this asset is well suited to a residential income strategy that values separate utilities, dedicated exterior entries, and on-site laundry. With one-year leases already in place, it can support an immediate transition while continuing to provide tenants with practical, in-building amenities such as dishwashers and coin-op laundry.
The building is just minutes to downtown and city bus lines, with walkability rated at 78 and bikeability rated at 60. Utilities are separate, and the configuration is designed to keep day-to-day tenant operations independent.
For buyers or operators, this asset is well suited to a residential income strategy that values separate utilities, dedicated exterior entries, and on-site laundry. With one-year leases already in place, it can support an immediate transition while continuing to provide tenants with practical, in-building amenities such as dishwashers and coin-op laundry.
Key Highlights
- 10‑bedroom, 4‑family home with 3BR/3BR and 2BR/2BR unit mix, total approx. 3,100 SF
- Separate utilities for the 4 units, plus ample rear parking area for tenants
- Each unit has outdoor space: enclosed front porch for all tenants and multiple rear entry/deck options
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 | $40.9k | $13.20 |
| − Vacancy | −$2.3k | −$0.73 |
| EGI | $38.7k | $12.47 |
| − OpEx | −$11.6k | −$3.74 |
| NOI | $27.1k | $8.73 |
3,100 SF · lease $13.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$386.7K
$338.4K – $451.2K
NOI $27,069 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$361.0K
$315.9K – $421.1K
NOI $25,268 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$854.5K
$747.7K – $997.0K
NOI $59,818 @ 7.0% cap · market cap 15.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained four-unit setup with separate utilities, rear parking, and coin-op laundry serving ten total bedrooms.
Where is this quadplex located?
The property is located at 38-40 Cliff St Oneonta, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 10‑bedroom, 4‑family home with 3BR/3BR and 2BR/2BR unit mix, total approx. 3,100 SF; Separate utilities for the 4 units, plus ample rear parking area for tenants; Each unit has outdoor space: enclosed front porch for all tenants and multiple rear entry/deck options
