Five-Unit Apartment
New
For Sale
$445,000
831 Washington Street, Watertown, NY 13601
MULTI_FAMILY - Watertown, NY
Property Size4,960 SF
Lot Size0.18 Acres
Price / SF$89.72
Days on Market6
Property Features for 831 Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Rooms
Basement, Bedroom 1, Bedroom 2, Bedroom 3
Parking features
Garage
Exterior features
BlacktopDriveway
Appliances
GasOven, GasRange, GasWaterHeater, Refrigerator
Lot features
Corner Lot, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Watertown
Middle school district
Watertown
High school district
Watertown
Directions
Corner of Washington and Bowers
Subdivision
Watertown-City-221800
Standard status
Active
APN
221800-011-000-0013-126-000-0000
Size
4,960 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4791
Utilities
Heating system
Steam, Natural Gas
Water source
Public
Amenities
shared laundry
Building Details
Year built
1950
Floors in Building
2
Number of units
5
Flooring type
Tile, Varies, Laminate, Carpet
Building materials
Cedar
Roof type
Shingle
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Robert Gardner · License #10301217226
(315) 782-9292
Added: Jul 27
Changed: Jul 31
Last Checked: Aug 1 at 9:06AM
MLS# S1700040
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.
Five-unit residential apartment building featuring a first-floor mix of two two-bedroom units, second-floor studio units, and a spacious 4- to 5-bedroom unit spanning two levels. Tenants have shared laundry facilities in the basement for added convenience. Each unit has separately metered electric, and heat is included. The building has a natural gas steam heating system with a Utica steam boiler serviced at least once annually, and the chimney has been rebuilt by Redfield Construction with stainless steel liners. Exterior updates include a roof less than 5 years old and a recently painted exterior. Construction materials include cedar, with interior flooring that varies across tile, laminate, carpet, and other finishes.
Located at 831 Washington Street in Watertown, New York, the property is directly across from Samaritan Hospital. The site includes a blacktop driveway and garage parking, with public water service.
Built in 1950, the property is configured as a turn-key, move-in ready investment with a roof, heating system, and chimney improvements intended to support long-term operations.
Located at 831 Washington Street in Watertown, New York, the property is directly across from Samaritan Hospital. The site includes a blacktop driveway and garage parking, with public water service.
Built in 1950, the property is configured as a turn-key, move-in ready investment with a roof, heating system, and chimney improvements intended to support long-term operations.
Key Highlights
- Five‑unit apartment building with two two‑bedroom units, studio units, and a spacious 4- to 5‑bedroom unit spanning two levels
- Directly across from Samaritan Hospital at 831 Washington Street, Watertown, NY
- Separately metered electric for each unit, with heat included
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 | $71.4k | $14.40 |
| − Vacancy | −$5.0k | −$1.01 |
| EGI | $66.4k | $13.39 |
| − OpEx | −$29.9k | −$6.03 |
| NOI | $36.5k | $7.37 |
4,960 SF · lease $14.40/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$521.9K
$456.7K – $608.9K
NOI $36,533 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,708 @ 7.0% cap · market cap 21.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment building with separately metered electric and shared basement laundry in Watertown, NY.
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 $445,000.
What are key features of this property?
This property features: Five‑unit apartment building with two two‑bedroom units, studio units, and a spacious 4- to 5‑bedroom unit spanning two levels; Directly across from Samaritan Hospital at 831 Washington Street, Watertown, NY; Separately metered electric for each unit, with heat included
