1310 Park St Syracuse, NY 13208
- Apartment buildings
- 33,570 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1310 Park St
- Year built
- 1965
- Property size
- 33,570 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained 36-unit apartment complex in Syracuse, NY. Comprising three buildings situated on separate tax parcels, the property boasts a total of 33,570 square feet. Built in 1965 (with one building constructed in 1968), the complex features three floors of residential living in each building. The buildings offer a mix of unit configurations, with 80% of units including electricity in the rent and 20% paying directly to the utility. Heat and hot water are included in rent for all units. Three new NYCERDA-approved boilers are in place. The property enjoys a 100% occupancy rate, generating a strong pro-forma NOI of $245,876 and a 6.5% cap rate. The complex is situated on mostly level sites with ample parking and benefits from public utilities including water, sewer, electricity, gas, and telephone/cable. Typical utility easements are in place. Zoned RA Residential District, the property offers significant potential for future growth and strong returns. The asking price is $3,783,000, or $105,083 per unit. This is a rare opportunity to acquire a stable, high-performing multifamily asset in a desirable location. The property includes three buildings: 1310 Park St (36 units, 11,190 sq ft per building, 200' frontage), 1012-21 Pond St (12 units, 11,664 sq ft, 110' frontage), and 110 Griffiths St (11 units, 11,112 sq ft, 114' frontage). All buildings are three stories.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Syracuse
- County
- Onondaga
- State
- New York
- Longitude
- -76.1557
- Latitude
- 43.0681
