Remodeled Three-Unit
For Sale
$260,000
Pending
709 Oak Street, Syracuse, NY 13203
Remodeled apartments offer a one-, two-, and three-bedroom unit mix.
Property Size2,476 SF
Days on Market181
Property Features for 709 Oak Street
General Information
Standard status
Pending
Size
2,476 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,878
Amenities
garage
enclosed front porch
Building Details
Building Size
2,476 SF
Year Built
1890
Listing Agency:
Empire Realty Group
Listed By:
Tonya Britton · License #10401333644
(315) 807-1751
Source:
Griffith-realty
Added: Apr 24
Changed: Oct 7
Last Checked: Oct 21 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 Empire Realty Group
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Investment Insights
Based on property information with market context.
This 2,476-square-foot triplex, built in 1890, contains three remodeled apartments with a varied bedroom configuration: one three-bedroom unit, one two-bedroom unit, and one one-bedroom unit. Improvements include new flooring, fresh paint, and updated appliances. The property also features a garage, paved driveway, and enclosed front porch.
Located at 709 Oak Street in Syracuse, the building sits on a rectangular 46X132 parcel along a city road. Exterior construction is wood, and the property includes electric and gas service. The combination of three separate apartments, recent interior updates, and on-site garage access provides a clear multifamily configuration for evaluation.
Located at 709 Oak Street in Syracuse, the building sits on a rectangular 46X132 parcel along a city road. Exterior construction is wood, and the property includes electric and gas service. The combination of three separate apartments, recent interior updates, and on-site garage access provides a clear multifamily configuration for evaluation.
Key Highlights
- Three‑unit apartment property with one three‑bedroom, one two‑bedroom, and one one‑bedroom unit
- 2,476 square feet on a rectangular 46X132 parcel
- All three apartments have been remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,377
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,540
$467.5K
Cap Rate 7%
$333,957
$334.0K
Cap Rate 9%
$259,744
$259.7K
Market Conditions
NOI Build-Up for 2,476 SF
Gross rent
$45.5K $18.36/SF
− Vacancy
−$3.0K −$1.19/SF
EGI
$42.5K $17.17/SF
− OpEx
−$19.1K −$7.72/SF
NOI
$23.4K $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%
$467,540
Cap Rate 7%
$333,957
Cap Rate 9%
$259,744
Alternative Uses
Best Use
Multifamily LT 5
$376.4K
$329.3K – $439.1K
NOI $26,345 @ 7.0% cap · market cap 10.13%
Second Best
Apartment 5plus
$334.0K
$292.2K – $389.6K
NOI $23,377 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$430.3K
$376.5K – $502.0K
NOI $30,121 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,157
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Remodeled apartments offer a one-, two-, and three-bedroom unit mix.
Where is this triplex located?
The property is located at 709 Oak Street Syracuse, NY.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Three‑unit apartment property with one three‑bedroom, one two‑bedroom, and one one‑bedroom unit; 2,476 square feet on a rectangular 46X132 parcel; All three apartments have been remodeled
