79 Weidman Pl Oneonta, NY 13820

Property Details for 79 Weidman Pl

Year built

1900

Lot size

0.39 lot acres

Property size

6,600 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a six-unit multi-family property ideally situated in Oneonta, NY. Boasting a total of 16 bedrooms and 7 bathrooms, this property offers a compelling blend of income generation and potential for appreciation. The 6,600 square foot building sits on a 0.39-acre lot, conveniently located near both local colleges, a short walk from Main Street, and just a block from a bus stop. Ample parking is available for residents. The property includes three two-bedroom units, two three-bedroom units, and one four-bedroom unit, all fully furnished. Significant recent upgrades include a new boiler (2010), and updated laundry facilities (2017 & 2023), with common laundry in the basement and additional laundry areas upstairs. A Certificate of Occupancy (COC) is in place. The property also includes two parcels, with the second parcel identified by tax map number 288.17-3-16. Rental income has shown strong performance in recent years, with 2023 income totaling $93,238 and expenses at $76,860. 2022 figures show income of $100,865 and expenses of $49,470, while 2021 income reached $124,624 with expenses of $62,190. Expenses include a 10% management fee. Current lease terms vary by unit, with some units leased on a 12-month basis and others on a per-semester basis for students. This property represents a strong investment opportunity with a proven track record of rental income and a desirable location. The recent upgrades and solid rental history make this a turnkey investment ready for immediate returns.

Location Insight

City

Oneonta

County

Otsego

State

New York

Longitude

-75.0664

Latitude

42.46