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    150 Seneca St Oswego, NY 13126

    Sponsored
    For Sale
    $2,039,698

    27-unit multifamily value-add opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a portfolio of 27 single-family rental units situated across multiple properties in Oswego County, New York. The portfolio, currently boasting a 6.95% capitalization rate, offers significant value-add potential, with a pro-forma cap rate projected at 14.41%. The properties are strategically located in both Oswego and Fulton, NY, with addresses including 150 E Seneca St, 171 Erie St, 111 W Utica St, 41 W 9th St, 313 Erie St (Fulton), 89 Varick St, 502 Cayuga St (Fulton), 7 E 6th St, 236 Oneida St (Fulton), 610 Utica St (Fulton), 163 W Mohawk St, 82 Niagara St, 27 NW 9th St, 311 W 5th St, 11 Dorcas St, 262 Duer St, 40 Liberty St, 237 E 2nd St, and 216 S 2nd St (Fulton). The portfolio's current occupancy rate stands at 56%, with a net operating income (NOI) of $141,759. However, renovations completed on several units indicate a strong potential for increased rental income, leading to the projected pro-forma NOI of $293,862. The asking price for the entire portfolio is $2,039,698, translating to a price per unit of $75,544.37. Financial statements are available upon request. This is a rare opportunity to acquire a substantial rental portfolio in a growing market with immediate upside potential. The properties are ready for a quick closing.

    Property Features for 150 Seneca St

    General Information

    Property type
    Multifamily properties

    Building Details

    Units
    27
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oswego
    County
    Oswego
    State
    New York
    Longitude
    -76.496592254334
    Latitude
    43.463860064503

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    FAQs

    What type of property is this?
    Multifamily property - 27-unit multifamily value-add opportunity.
    Where is this multifamily property located?
    The property is located at 150 Seneca St Oswego, NY.
    What is the asking price?
    The asking price for this property is $2,039,698.
    Request Owner's contact information
    150 Seneca St Oswego, NY 13126
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    Oswego, NY 13126
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    150 Seneca St Oswego, NY 13126
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