Current Use by Public Records
- Apartment buildings
Property Details for 7 State St
- Year built
- 1980
- Property type
- Apartment buildings
Description
This exceptional Class A multifamily investment opportunity presents a 12-unit apartment building located at 7 State Street in Oneonta, New York, 13820. The property, built in 1980 and renovated the same year, boasts a total of 35,000 square feet, with a net rentable area of 12,000 square feet. Currently operating at 100% occupancy, this stabilized investment generates a substantial Net Operating Income (NOI) of $73,312, resulting in an attractive 7.33% capitalization rate. The asking price is $1,000,000. The property comprises three separate buildings, each housing four units, providing a unique configuration and potential for future management strategies. Ample parking is available with 40 spaces provided for residents and guests. This well-maintained property offers a strong cash flow and significant potential for appreciation in a desirable location. The property's strong performance and high occupancy rate make it an ideal addition to any investment portfolio. Further details regarding the gross income of $131,640 and the three-building configuration are available upon request. This is a rare opportunity to acquire a stable, high-performing multifamily asset in a growing market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oneonta
- County
- Otsego
- State
- New York
- Longitude
- -75.0597
- Latitude
- 42.465
