Turnkey Studio Apartment
7373 Rt 20 Waterville, NY 13480
For Sale
$599,900
COMMERCIAL - Waterville, NY
Property Size2,112 SF
Price / SF$284.04
Days on Market119
Property Features for 7373 Rt 20
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Res A
Parking
16
Parking features
Paved or Surfaced
Interior features
BedroomOnMainLevel
Standard status
Active
APN
392.000-2-33.1
Size
2,112 SF
Taxes and HOA fees
Tax Annual Amount
7276
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Electric (Heating)
Water source
Well
Building Details
Year built
1950
Floors in Building
1
Number of units
8
Building materials
AtticCrawlHatchwaysInsulated
Roof type
Shingle, Asphalt
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice
(315) 735-9244
Listed By:
Martin C. Bell · License #40BE1090095
(315) 794-6090
Added: Apr 3
Changed: Jul 12
Last Checked: Jul 30 at 12:06AM
MLS# S1670640
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 turnkey studio apartment building features eight fully furnished units currently operating as a successful Airbnb. Each studio includes a full bath and is equipped with a refrigerator, stove, microwave, and flat screen TV, along with an A/C window unit for guest comfort. The property also offers on-site laundry, high-speed internet supported by an eero boost system, and a large blacktop parking lot designed to provide ample space for each unit. A $150 cleaning fee is charged to guests per unit per stay and is not included in the gross annual income. Recent and ongoing improvements include a new privacy fence and water softener in 2025, brand new electronic door locks for each unit in 2026, and hot water tanks that are less than five years old.
Located at 7373 Rt 20 in Waterville, NY, the property benefits from nearby demand driven by Hamilton College, Colgate University, and Morrisville College, all within 15 miles. The quaint Village of Waterville is also about five minutes away.
For investors or owner-operators looking to create or expand an income portfolio, this configuration offers a straightforward, turnkey operating model with consistent unit amenities, individual electronic entry, and practical guest support through laundry and parking. The current short-term rental operation and the included furnishings and supplies can help reduce setup friction for qualified buyers seeking a similar hospitality-focused strategy, with the property designated under Res A zoning.
Located at 7373 Rt 20 in Waterville, NY, the property benefits from nearby demand driven by Hamilton College, Colgate University, and Morrisville College, all within 15 miles. The quaint Village of Waterville is also about five minutes away.
For investors or owner-operators looking to create or expand an income portfolio, this configuration offers a straightforward, turnkey operating model with consistent unit amenities, individual electronic entry, and practical guest support through laundry and parking. The current short-term rental operation and the included furnishings and supplies can help reduce setup friction for qualified buyers seeking a similar hospitality-focused strategy, with the property designated under Res A zoning.
Key Highlights
- 8 fully furnished studio units operating as an Airbnb; all units include full baths, refrigerators, stoves, microwaves, and flat‑screen TVs
- Unit mix and income: 4 larger units (#1, #2, #7, #8) generate $1,050/mo at $675/week each; 4 other units (#3, #4, #5, #6) generate $850/mo at $500/week each
- Guest fees: $150 cleaning fee is charged per unit per stay and is not included in the gross annual income
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 | $34.2k | $16.20 |
| − Vacancy | −$2.2k | −$1.06 |
| EGI | $32.0k | $15.14 |
| − OpEx | −$14.4k | −$6.81 |
| NOI | $17.6k | $8.32 |
2,112 SF · lease $16.20/SF/yr · vacancy 6.57% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$251.2K
$219.8K – $293.0K
NOI $17,582 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$556.6K
$487.0K – $649.3K
NOI $38,959 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Short term rental property - A fully furnished, eight-studio setup operating as a profitable Airbnb with strong in-unit amenities and on-site conveniences.
Where is this short term rental property located?
The property is located at 7373 Rt 20 Waterville, NY.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 8 fully furnished studio units operating as an Airbnb; all units include full baths, refrigerators, stoves, microwaves, and flat‑screen TVs; Unit mix and income: 4 larger units (#1, #2, #7, #8) generate $1,050/mo at $675/week each; 4 other units (#3, #4, #5, #6) generate $850/mo at $500/week each; Guest fees: $150 cleaning fee is charged per unit per stay and is not included in the gross annual income
