Upscale 12-Unit Apartment
For Sale
$1,450,000
827 Park Street, Syracuse, NY 13208
Remodeled 12-unit apartment building with tenant-paid utilities.
Property Size7,446 SF
Price / SF$194.74
Days on Market324
Property Features for 827 Park Street
General Information
Standard status
Active
Size
7,446 SF
Property subtype
MultiFamily
Listing Agency:
Coldwell Banker Prime Prop,Inc
Listed By:
Susan Li · License #30LI0956504
(315) 446-2910
Source:
Nicholcityrealty
Added: Nov 28, 2025
Changed: Oct 5
Last Checked: Oct 16 at 8:25AM
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 Coldwell Banker Prime Prop,Inc
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Investment Insights
Based on property information with market context.
This is an upscale 12-unit apartment building, with each unit featuring one bedroom and one bathroom. Tenants are responsible for covering their own utility expenses. The property has undergone remodeling, including new windows, electrical circuit breakers, 12 new kitchens, 12 new bathrooms, new flooring, and new appliances. Additionally, the driveway has been newly paved. The property is being sold as a package with another property.
Key Highlights
- Package deal: Available with 600 South Ave (S1649223) for $1,495,000
- Upscale 12‑unit apartment building
- All units feature one bedroom and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,302
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,406,040
$1.4M
Cap Rate 7%
$1,004,314
$1.0M
Cap Rate 9%
$781,133
$781.1K
Market Conditions
NOI Build-Up for 7,446 SF
Gross rent
$136.7K $18.36/SF
− Vacancy
−$8.9K −$1.19/SF
EGI
$127.8K $17.17/SF
− OpEx
−$57.5K −$7.72/SF
NOI
$70.3K $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%
$1,406,040
Cap Rate 7%
$1,004,314
Cap Rate 9%
$781,133
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$878.8K – $1.17M
NOI $70,302 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,581 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,546
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled 12-unit apartment building with tenant-paid utilities.
Where is this apartment building located?
The property is located at 827 Park Street Syracuse, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Package deal: Available with 600 South Ave (S1649223) for $1,495,000; Upscale 12‑unit apartment building; All units feature one bedroom and one bathroom
