25 Champion St Carthage, NY 13619

Property Details for 25 Champion St

Year built

1830

Lot size

0.27 lot acres

Property size

3,394 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a three-unit apartment building located at 25 Champion Street in West Carthage, New York, 13619. The property, built in 1830 and renovated in 2021, boasts a total of 3,394 square feet situated on a 0.272-acre lot (66' x 180'). The building features two stories and includes three parking spaces. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $17,674, resulting in an attractive 11.78% cap rate. The asking price is $150,000, translating to $44.20 per square foot. The property is zoned Res C. Each unit offers a unique layout. Unit #1, a two-bedroom, one-bathroom unit located upstairs, includes a gas stove, refrigerator, and a spacious living room. Unit #2, also upstairs but with a first-floor entrance, features two closets, one bedroom, one bathroom, a living room, and a sizable eat-in kitchen equipped with a stove/oven, refrigerator, and stackable washer/dryer. Unit #3, a two-bedroom, one-bathroom unit on the ground floor, includes a large living room, dining room, kitchen with stove, refrigerator, and dishwasher. All units are currently occupied, with one tenant having long-term residency. The property is sold "as is," including existing tenants, and the owner will not provide notice to vacate. The building's proximity to the hospital, shopping, restaurants, and Fort Drum (within 10 minutes) adds to its appeal. This is a turnkey investment opportunity with significant potential for future returns.