63-65 South St Auburn, NY 13021
- Commercial real estate
- 52,133 SF
- 2.00 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 63-65 South St
- Year built
- 1913
- Lot size
- 2.00 lot acres
- Property size
- 52,133 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a rare chance to acquire the historic Kings and Queens Court, a 60-unit apartment building situated on a 2-acre lot in Auburn, New York. The property comprises two buildings totaling 52,133 square feet, constructed in 1913 and zoned SC. Each of the 60 units has been meticulously restored, boasting a strong rental history and currently enjoying 100% occupancy. A significant portion of tenant utilities are paid, supplementing revenue streams further enhanced by coin-operated laundry facilities and income-generating garage storage. Ample parking is available for residents. The property's prime location offers convenient access to downtown Auburn, the picturesque Owasco Lake, and several major employers, ensuring consistent high demand from renters. Priced at $3,900,000 ($65,000 per unit and $74.81 per square foot), this multifamily property represents a compelling investment prospect for those seeking a blend of historical charm and robust financial returns in a stable rental market. The address is 63-65 South St, Auburn, NY 13021.
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
- Auburn
- County
- Cayuga
- State
- New York
- Longitude
- -76.566603
- Latitude
- 42.927252
