Four-Unit Multifamily
For Sale
$294,900
624 E Division Street, Syracuse, NY 13208
Four apartments occupy the main levels, basement, and attic, with a two-car garage and fenced backyard.
Property Size2,400 SF
Price / SF$122.88
Days on Market64
Property Features for 624 E Division Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 3BR/1BA (1st floor), 1 x 3BR/1BA (2nd floor), 1 x efficacy apartment (basement), 1 x 2BR/1BA (attic)
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,014
Amenities
front porches
fenced private backyard
Attic
Ceiling Fan(s)
Enclosed Porch
Fully Fenced
Porch
Building Details
Building Size
2,400 SF
Year Built
1930
Buildings
1
Stories
2
Units
2
Listing Agency:
Hunt Real Estate ERA
Listed By:
Edward DePalma · License #10401331506
(315) 699-3200
Source:
Franzese-realestate
Added: Aug 25
Changed: Oct 26
Last Checked: Oct 26 at 4:01AM
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 Hunt Real Estate ERA
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Investment Insights
Based on property information with market context.
This 2,400-square-foot, four-floor property contains four apartments: two 3-bedroom, 1-bathroom units on the first and second floors, an efficiency apartment in the basement, and a 2-bedroom, 1-bathroom apartment in the attic. The basement and attic apartments were vacant when the current owner purchased the property. Renovations to the main apartments include new kitchens, updated bathrooms, refinished hardwood floors, and fresh paint. The attic apartment has a new kitchen, floors, and appliances. Updated vinyl windows and new power-vent hot water tanks are also in place; both furnaces are described as being in good condition.
The property includes front porches, a fenced backyard, a two-car garage, and a private paved driveway. The garage has been used for storage by the current owner and can also be rented to tenants.
The property includes front porches, a fenced backyard, a two-car garage, and a private paved driveway. The garage has been used for storage by the current owner and can also be rented to tenants.
Key Highlights
- Four apartments across four floors: two 3‑bedroom/1‑bath units, one efficiency, and one 2‑bedroom/1‑bath unit
- 2,400‑square‑foot property built in 1930
- Two‑car garage and private paved driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,537
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,740
$510.7K
Cap Rate 7%
$364,814
$364.8K
Cap Rate 9%
$283,744
$283.7K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$38.9K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$36.5K $15.20/SF
− OpEx
−$10.9K −$4.56/SF
NOI
$25.5K $10.64/SF
Area
Syracuse, NY
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,740
Cap Rate 7%
$364,814
Cap Rate 9%
$283,744
Alternative Uses
Best Use
Multifamily LT 5
$364.8K
$319.2K – $425.6K
NOI $25,537 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$323.7K
$283.3K – $377.7K
NOI $22,660 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$417.1K
$365.0K – $486.6K
NOI $29,196 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,878
Businesses Nearby
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Business Placement
Demographics for 13208, NY
23,603
Population
10,325
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
77%
High-School Grad
4.1 sq mi
ZIP Area
5,757
Density / Sq Mi
$40,641
Median Household Income
$35,015
Median Earnings
$999
Median Rent
$110,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments occupy the main levels, basement, and attic, with a two-car garage and fenced backyard.
Where is this quadplex located?
The property is located at 624 E Division Street Syracuse, NY.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: Four apartments across four floors: two 3‑bedroom/1‑bath units, one efficiency, and one 2‑bedroom/1‑bath unit; 2,400‑square‑foot property built in 1930; Two‑car garage and private paved driveway
