686 Onondaga St Syracuse, NY 13204

This exceptional value-add opportunity presents a 28-unit apartment building located at 686 W Onondaga St, Syracuse, NY 13204. The property, known as The Sheridan, boasts a total of 23,616 square feet across three stories, built in 1950 and recently renovated between 2022 and 2024. The asking price is $1,700,000, translating to $71.99 per square foot and $60,714.29 per unit. Currently operating at 72% occupancy, this Class C multifamily investment offers significant upside potential. The property sits on a 29,263.34 square foot lot and includes 28 parking spaces. The zoning is classified as 007. While there are no air rights, the location presents a compelling opportunity for value-add renovations and subsequent rent increases. Note that city grants are available, but require complete vacancy of the building to qualify. This is a rare chance to acquire a well-situated apartment building in a growing Syracuse neighborhood. The property is being sold by the owner.