Rare 6-unit apartment investment in Cortland's SUNY rental belt. Built in 1979, this building is a full era newer than the converted 1870s-1930s stock that dominates local multifamily inventory - a meaningful advantage for maintenance, financing and per-unit positioning in a tight-credit tertiary market. Verified contract rent of $96,000 per year, including signed Fall-2026 leases, against verified operating expenses of $31,452 per year. Underwritten with a 5% vacancy factor the asset produces $59,748 of net operating income - a 7.24% capitalization rate at the $824,900 asking price, or roughly $221 per square foot. Six units and 3,728 square feet in one building on a 0.60-acre (26,098 SF) city parcel with a detached garage, off-street blacktop parking, covered walkway entries, vinyl siding and updated interiors. Twelve parking spaces on site. Consistent student and workforce tenant demand from SUNY Cortland and downtown employers, minutes from campus, downtown Cortland and I-81. Rent roll, verified income and expense detail, floor plans and a full valuation and advisory report available to qualified buyers on request. Do not disturb tenants - showings by appointment through the listing Broker
3,728 Sq Ft
0.5991 Private Acres Losgröße
investition
577 $ Monatliche Steuer
Integriert 1979
MLS/Listing-ID S1702765
2 Geschichten
6 Einheiten
Cooling - Other
Construction - Vinyl Siding
Warmwasserbereiter
Public Water
Wasser
Community Sewer
Shingle
Veranda
Abgedeckt
Parking - No Garage
Parken – Auffahrt
Parking - Two Spaces
Lot - Wooded
Lot - Rectangular Lot
Heating - Other
Möbliert
Slab
GESAMTKOSTEN PRO MONAT
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0 $
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