Brick 8-Unit Apartment
406 Rutger Street Utica, NY 13501
406 Rutger Street, Utica, NY, 13501
$649,000
For Sale
$649,000
MULTI_FAMILY - Utica, NY
Property Size5,148 SF
Price / SF$126.07
Days on Market79
Property Features for 406 Rutger Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Rooms
- Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Basement, Bedroom 6, Bedroom 1
- Parking features
- Garage
- Exterior features
- BlacktopDriveway, Fence
- Fencing
- Fenced
- Appliances
- GasOven, GasRange, GasWaterHeater, Refrigerator
- Standard status
- Active
- APN
- 318.67-2-8.1
- Size
- 5,148 SF
Taxes and HOA fees
- Tax Annual Amount
- 4207
Utilities
- Heating system
- Hot Water(Heating), Natural Gas, Steam
- Water source
- Public
Building Details
- Year built
- 1960
- Floors in Building
- 2
- Number of units
- 8
- Flooring type
- Tile, Varies, Hardwood, Laminate
- Building materials
- Brick
- Roof type
- Asphalt, Membrane, Rubber
Listing Agency
Assist2Sell Buyers & Sellers 1st Choice
(315) 735-9244
2704 Genesee St, Utica, NY
Listed by
Alen Zekic · License #10401267029
(315) 570-0148
Added: May 4 Updated: Jul 12 at 9:34 am Checked: Jul 21 at 2:06 am
MLS# S1678825
Listing URL
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained brick apartment building provides eight income-producing residences with a diversified unit mix. The property includes four 1-bedroom apartments, two studio apartments, one 2-bedroom apartment, and one 3-bedroom apartment. The building is fully rented, making it an established option for investors looking for immediate occupancy, supported by on-site parking and a straightforward, multi-unit configuration.
Located in East Utica, the property is positioned close to downtown as well as everyday amenities such as shopping, restaurants, hospitals, schools, and other local services. The surrounding area helps support continued tenant demand, and the large parking area adds practicality for residents who rely on nearby access and convenient day-to-day logistics.
For buyers or investors, this asset offers a turnkey path to multi-family ownership with current rental income in place. The mix of studio through 3-bedroom units can appeal to a range of household types, which may help broaden tenant appeal across different market needs. Whether building a portfolio or adding to an existing strategy, this fully occupied brick building is a solid fit for those focused on steady, well-managed rental housing.
Located in East Utica, the property is positioned close to downtown as well as everyday amenities such as shopping, restaurants, hospitals, schools, and other local services. The surrounding area helps support continued tenant demand, and the large parking area adds practicality for residents who rely on nearby access and convenient day-to-day logistics.
For buyers or investors, this asset offers a turnkey path to multi-family ownership with current rental income in place. The mix of studio through 3-bedroom units can appeal to a range of household types, which may help broaden tenant appeal across different market needs. Whether building a portfolio or adding to an existing strategy, this fully occupied brick building is a solid fit for those focused on steady, well-managed rental housing.
Key Highlights
- 8‑unit brick apartment building (one 3‑bed, one 2‑bed, four 1‑bed, and two studio apartments)
- Fully rented multi‑family property with a diverse unit mix
- Year built 1960 with multiple roof types listed: asphalt, membrane, and rubber
Local Financial Insights For Apartment 5plus
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 | $83.4k | $16.20 |
| − Vacancy | −$5.5k | −$1.06 |
| EGI | $77.9k | $15.14 |
| − OpEx | −$35.1k | −$6.81 |
| NOI | $42.9k | $8.32 |
5,148 SF · lease $16.20/SF/yr · vacancy 6.57% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$612.2K
$535.7K – $714.3K
NOI $42,855 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $94,962 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully rented brick multifamily with a large parking area and a diversified mix of 1-, 2-, 3-bedroom and studio units.
Where is this apartment building located?
The property is located at 406 Rutger Street Utica, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 8‑unit brick apartment building (one 3‑bed, one 2‑bed, four 1‑bed, and two studio apartments); Fully rented multi‑family property with a diverse unit mix; Year built 1960 with multiple roof types listed: asphalt, membrane, and rubber
