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    63-65 South St Auburn, NY 13021

    Sponsored
    For Sale
    $4,500,000

    Historic 60-unit apartment complex, strong cash flow.

    Property size:
    52,133 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents the chance to acquire the renowned Kings and Queens Court, a meticulously maintained 60-unit apartment building situated on a 2-acre lot in the charming city of Auburn, New York. The property, encompassing 52,133 square feet, consists of two historically significant buildings, each housing a portion of the rental units. All units have undergone careful restoration, enhancing their appeal to tenants. A significant advantage is that a portion of the utilities are paid directly by tenants, contributing to a robust and stable income stream. Further enhancing revenue potential are the on-site coin-operated laundry facilities and ample parking, including garage storage units available for lease. The property's prime location offers convenient access to downtown Auburn, the picturesque Owasco Lake, and several major employers, ensuring high occupancy rates and consistent demand. Currently operating at full occupancy, this multifamily property boasts a strong rental history, providing a solid foundation for continued financial success. This is an ideal acquisition for investors seeking a blend of historical charm, consistent cash flow, and a stable rental market in a desirable location. The asking price for this remarkable property is $4,500,000.

    Property Features for 63-65 South St

    General Information

    Property type
    Multifamily properties
    Square Feet
    52,133 SF
    Lot Size
    87,120 SF

    Building Details

    Units
    60

    HighLights

    • $4,500,000 asking price.
    • 60‑unit multifamily apartment building on 2 acres.
    • 52,133 square feet.
    • Located at 63‑65 South Street, Auburn, NY 13021.
    • Fully occupied with strong rental history and excellent cash flow.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Cayuga
    State
    New York
    Longitude
    -76.566603
    Latitude
    42.927252

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    FAQs

    What type of property is this?
    Multifamily property - Historic 60-unit apartment complex, strong cash flow.
    Where is this multifamily property located?
    The property is located at 63-65 South St Auburn, NY.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: $4,500,000 asking price.; 60-unit multifamily apartment building on 2 acres.; 52,133 square feet.
    Request Owner's contact information
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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
    63-65 South St Auburn, NY 13021
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