105 Madison Ave Endicott, NY 13760

Property Details for 105 Madison Ave

Year built

1980

Property size

4,086 SF

Property type

Commercial real estate

Description

This newly renovated, stabilized 5-unit apartment building in Endicott, NY, presents a compelling investment opportunity. Boasting a strong 8.73% cap rate and a net operating income (NOI) of $33,612.20, this property offers significant potential for return. The building, constructed in 1980, encompasses 4,086 square feet on a 6,841 square foot lot. All five units are one-bedroom apartments. The property benefits from a prime location, within walking distance of Washington Avenue, and includes a valuable private parking lot. Situated in a Federal Opportunity Zone, this investment is poised to benefit from the area's revitalization. Endicott's recent economic growth, fueled by new manufacturers and a substantial research and development grant, further enhances the property's long-term prospects. This is an excellent opportunity to capitalize on a rapidly developing area, leveraging the strong rental income and the potential for future appreciation. The asking price is $374,999, translating to a price per square foot of $94.22. The property's recent renovations and stable occupancy contribute to its attractive investment profile. Don't miss this chance to acquire a well-positioned multifamily asset in a thriving New York community.