Multifamily Income
For Sale
$230,000
1680 Seymour Ave, Utica, NY 13501
For sale at 1680 Seymour Ave, a residential income multifamily option in a car-dependent area.
Property Size2,500 SF
Days on Market62
Property Features for 1680 Seymour Ave
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,315
Building Details
Building Size
2,500 SF
Year Built
1925
Stories
2
Units
2
Listing Agency:
Assist2Sell Buyer's & Seller's 1st Choice
(315) 570-0148
Listed By:
Alen Zekic · License #10401267029
(315) 570-0148
Source:
Elliman
Added: Jun 22
Changed: Aug 14
Last Checked: Aug 22 at 11:59AM
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 Assist2Sell Buyer's & Seller's 1st Choice
Investment Insights
Based on property information with market context.
This for-sale multifamily and residential income property is presented as an ownership opportunity within the “other multifamily” category. Beyond the stated property type, no additional building layouts, unit count, or interior features were provided in the available information.
The property is located at 1680 Seymour Ave in Utica, NY 13501. Walkability is reported at a 50 (car-dependent), and bikeability is reported at a 44 (somewhat bikeable), indicating that tenant or resident access is likely oriented toward vehicles rather than frequent walking or cycling.
For investors and buyers seeking a residential income asset, the most immediate, supported takeaway is the property’s classification as a multifamily income offering. Buyers typically evaluate a number of items not provided here, such as current income, lease terms, building condition, and unit mix. Prospective purchasers and their representatives should review all available offering materials and conduct appropriate due diligence to confirm the property’s operational and financial characteristics before making a decision.
The property is located at 1680 Seymour Ave in Utica, NY 13501. Walkability is reported at a 50 (car-dependent), and bikeability is reported at a 44 (somewhat bikeable), indicating that tenant or resident access is likely oriented toward vehicles rather than frequent walking or cycling.
For investors and buyers seeking a residential income asset, the most immediate, supported takeaway is the property’s classification as a multifamily income offering. Buyers typically evaluate a number of items not provided here, such as current income, lease terms, building condition, and unit mix. Prospective purchasers and their representatives should review all available offering materials and conduct appropriate due diligence to confirm the property’s operational and financial characteristics before making a decision.
Key Highlights
- Year built: 1925
- BikeScore: 44 (somewhat bikeable)
- WalkScore: 50 (car‑dependent)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,812
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,240
$416.2K
Cap Rate 7%
$297,314
$297.3K
Cap Rate 9%
$231,244
$231.2K
Market Conditions
NOI Build-Up for 2,500 SF
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.
Gross rent
$40.5K $16.20/SF
− Vacancy
−$2.7K −$1.06/SF
EGI
$37.8K $15.14/SF
− OpEx
−$17.0K −$6.81/SF
NOI
$20.8K $8.32/SF
Area
Oneida County, NY
Vacancy
6.57%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,240
Cap Rate 7%
$297,314
Cap Rate 9%
$231,244
Alternative Uses
Best Use
Apartment 5plus
$297.3K
$260.2K – $346.9K
NOI $20,812 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$658.8K
$576.5K – $768.6K
NOI $46,116 @ 7.0% cap · market cap 20.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Explore this area
Business Placement
Demographics for 13501, NY
40,885
Population
17,071
Households
2.4
Avg Household Size
35
Median Age
22%
College-Educated
78%
High-School Grad
8.8 sq mi
ZIP Area
4,646
Density / Sq Mi
$49,771
Median Household Income
$33,632
Median Earnings
$865
Median Rent
$136,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - For sale at 1680 Seymour Ave, a residential income multifamily option in a car-dependent area.
Where is this multifamily property located?
The property is located at 1680 Seymour Ave Utica, NY.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Year built: 1925; BikeScore: 44 (somewhat bikeable); WalkScore: 50 (car‑dependent)
