1706 Tracy St Endicott, NY 13760

Property Details for 1706 Tracy St

Year built

1920

Lot size

0.16 lot acres

Property size

6,236 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a six-unit apartment building located at 1706 Tracy Street, Endicott, New York, 13760. The property consists of two buildings, each three stories high, situated on a 0.16-acre lot. Built in 1920 and extensively renovated in 2017, this Class B multifamily property offers a compelling value-add proposition. The 6,236 square foot complex boasts six units: three large one-bedroom units and three larger three-bedroom units, including a recently renovated and leased two-bedroom unit on the top floor of one building. All units have undergone recent renovations. The property currently enjoys an 83% occupancy rate, generating a strong net operating income (NOI) of $53,185, resulting in a 10.13% capitalization rate. The asking price is $525,000, translating to $87,500 per unit and $84.19 per square foot. Tenants are responsible for their own utilities. The property's central location offers convenient access to Washington Avenue, Huron Campus, main street, bus lines, State Route 26, and the I-86 interchange, enhancing its appeal to a wide range of tenants. This stabilized investment presents a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location with significant upside potential.