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5-Unit Apartment Building
New
For Sale
$209,900

221 N Prospect St, Herkimer, NY 13350

All apartments are occupied, with a mix of studio, one-bedroom, and two-bedroom layouts.

Property Size5,652 SF
Days on Market3

Property Features for 221 N Prospect St

General Information

Standard status Active
Size 5,652 SF
Total Parking Spaces 6
Property subtype Investment
Occupancy 100%

Units

Unit Mix 3 x 1BR, 1 x Studio, 1 x 2BR
Multifamily Units 5

Taxes and HOA fees

Annual Taxes $4,969

Building Details

Building Size 5,652 SF
Year Built 1974
Buildings 1
Stories 2
Units 5
Tenancy Multi
Listing Agency: Faith Properties, Inc.
Listed By: Sarah L. Roy · License #40RO1105903
Source: Elliman
Added: Sep 30 Changed: Oct 1 Last Checked: Oct 1 at 11:56AM

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 Faith Properties, Inc.

Investment Insights

Based on property information with market context.

This 5-unit apartment building, constructed in 1974, contains three one-bedroom apartments, one studio, and one two-bedroom apartment. All five units are currently rented. The property also has a relatively new roof and six dedicated parking spaces.

At 221 N Prospect St in Herkimer, the building has direct access to Herkimer College, with village amenities within easy travel distance. Its Bike Score is 50 and its Walk Score is 71.

Key Highlights

  • Five apartments: three one‑bedroom units, one studio, and one two‑bedroom unit
  • All five units are currently rented
  • Six dedicated parking spaces

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency HVAC Service Parking Lot & Garage Bakery Plumbing Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5
Residential units
100%
Occupancy
Multi-tenant
Tenancy

Location Intelligence

Trade Area within ½ mile

845
Businesses Nearby

Demographics for 13350, NY

9,513
Population
4,709
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
31.6 sq mi
ZIP Area
301
Density / Sq Mi
$62,548
Median Household Income
$37,975
Median Earnings
$821
Median Rent
$136,400
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022
4.6% 2023
5.3% 2024
5.6% 2025
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Frequently Asked Questions

What type of property is this?
Apartment building - All apartments are occupied, with a mix of studio, one-bedroom, and two-bedroom layouts.
Where is this apartment building located?
The property is located at 221 N Prospect St Herkimer, NY.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Five apartments: three one‑bedroom units, one studio, and one two‑bedroom unit; All five units are currently rented; Six dedicated parking spaces
More about this property
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