32-Unit Apartment
514-520 E Willow Street, Syracuse, NY 13203
For Sale
$2,600,000
MultiFamily, Syracuse, NY
Property Size21,480 SF
Lot Size0.20 Acres
Price / SF$121.04
Days on Market38
Property Features for 514-520 E Willow Street
General Information
Property type
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Bedrooms
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Parking features
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Appliances
Lot features
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
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Tax Annual Amount
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Building Details
Year built
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Buildings
Listing Agency:
Candy Costa Real Estate LLC
(315) 505-6609
Listed By:
Candy Costa · License #10491209117
(315) 447-0668
Added: Sep 30
Changed: Nov 6
Last Checked: Nov 6 at 8:06PM
MLS# S1714161
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.
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Investment Insights
Based on property information with market context.
This three-story brick apartment property contains 32 units across 21,480 square feet. The unit mix comprises 17 studios, 14 one-bedroom apartments and one two-bedroom apartment. A natural-gas boiler provides hot-water heat. The building dates to 1930 and sits on a 0.2005-acre parcel, with garage and driveway parking noted among its features.
At 514-520 E Willow Street in Syracuse, the property is within walking distance of St. Joseph's Hospital and the Erie Canal Museum. I-690 provides access to the wider Syracuse area, while Downtown Syracuse, SUNY Upstate Medical University and Syracuse University are among the named destinations. Public water service is listed.
At 514-520 E Willow Street in Syracuse, the property is within walking distance of St. Joseph's Hospital and the Erie Canal Museum. I-690 provides access to the wider Syracuse area, while Downtown Syracuse, SUNY Upstate Medical University and Syracuse University are among the named destinations. Public water service is listed.
Key Highlights
- 32 apartments: 17 studios, 14 one‑bedroom units and one two‑bedroom unit
- 21,480 square feet in a three‑story brick building
- Built in 1930 on a 0.2005‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,806
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,056,120
$4.1M
Cap Rate 7%
$2,897,229
$2.9M
Cap Rate 9%
$2,253,400
$2.3M
Market Conditions
NOI Build-Up for 21,480 SF
Gross rent
$394.4K $18.36/SF
− Vacancy
−$25.6K −$1.19/SF
EGI
$368.7K $17.17/SF
− OpEx
−$165.9K −$7.72/SF
NOI
$202.8K $9.44/SF
Area
Syracuse, NY
Vacancy
6.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,056,120
Cap Rate 7%
$2,897,229
Cap Rate 9%
$2,253,400
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.54M – $3.38M
NOI $202,806 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.73M
$3.27M – $4.36M
NOI $261,307 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
32
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,706
Businesses Nearby
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Business Placement
Demographics for 13203, NY
16,240
Population
9,092
Households
1.8
Avg Household Size
37
Median Age
28%
College-Educated
84%
High-School Grad
1.7 sq mi
ZIP Area
9,553
Density / Sq Mi
$46,526
Median Household Income
$38,240
Median Earnings
$953
Median Rent
$148,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Syracuse, NY
Properties on Market for Apartment buildings in Syracuse
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story brick construction and a studio-to-two-bedroom mix are served by natural-gas hot-water heat.
Where is this apartment building located?
The property is located at 514-520 E Willow Street Syracuse, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 32 apartments: 17 studios, 14 one‑bedroom units and one two‑bedroom unit; 21,480 square feet in a three‑story brick building; Built in 1930 on a 0.2005‑acre parcel
