5-Unit Apartment
For Sale
$429,900
831 Washington Street, Watertown, NY 13601
Five residential units include separately metered electric, shared basement laundry, and a recently updated roof.
Property Size4,960 SF
Price / SF$86.67
Days on Market70
Property Features for 831 Washington Street
General Information
Standard status
Active
Size
4,960 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR, 2 x studio, 1 x 4-5BR
Multifamily Units
5
Additional Details
Gross Income
$50,000
Amenities
shared laundry facilities
Building Details
Buildings
1
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Robert Gardner · License #10301217226
(315) 777-2189
Source:
Nicholcityrealty
Added: Aug 17
Changed: Oct 2
Last Checked: Oct 24 at 5:00PM
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 Bridgeview Real Estate
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Investment Insights
Based on property information with market context.
This five-unit apartment building offers a varied residential layout across the property. The first floor contains two two-bedroom apartments, while the second floor includes two studio units. A larger four- to five-bedroom apartment extends across two levels. Shared laundry facilities are located in the basement, and each unit has separate electric metering.
Heat is included in rent and supplied by a Utica steam boiler that receives service at least once annually. The roof is less than five years old, the exterior has been recently painted, and the chimney has been rebuilt with stainless steel liners. The property is located directly across from Samaritan Hospital at 831 Washington Street in Watertown City, NY.
Heat is included in rent and supplied by a Utica steam boiler that receives service at least once annually. The roof is less than five years old, the exterior has been recently painted, and the chimney has been rebuilt with stainless steel liners. The property is located directly across from Samaritan Hospital at 831 Washington Street in Watertown City, NY.
Key Highlights
- Five‑unit apartment building with two two‑bedroom units, two studios, and one four- to five‑bedroom unit
- Two‑bedroom apartments occupy the first floor; the larger unit spans two levels
- Separate electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,533
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,660
$730.7K
Cap Rate 7%
$521,900
$521.9K
Cap Rate 9%
$405,922
$405.9K
Market Conditions
NOI Build-Up for 4,960 SF
Gross rent
$71.4K $14.40/SF
− Vacancy
−$5.0K −$1.01/SF
EGI
$66.4K $13.39/SF
− OpEx
−$29.9K −$6.03/SF
NOI
$36.5K $7.37/SF
Area
Jefferson County, NY
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,660
Cap Rate 7%
$521,900
Cap Rate 9%
$405,922
Alternative Uses
Best Use
Apartment 5plus
$521.9K
$456.7K – $608.9K
NOI $36,533 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,708 @ 7.0% cap · market cap 22.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
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Business Placement
Demographics for 13601, NY
37,287
Population
18,653
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
140.8 sq mi
ZIP Area
265
Density / Sq Mi
$57,503
Median Household Income
$37,061
Median Earnings
$974
Median Rent
$170,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five residential units include separately metered electric, shared basement laundry, and a recently updated roof.
Where is this apartment building located?
The property is located at 831 Washington Street Watertown, NY.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Five‑unit apartment building with two two‑bedroom units, two studios, and one four- to five‑bedroom unit; Two‑bedroom apartments occupy the first floor; the larger unit spans two levels; Separate electric meters for each unit
