Available on the market for the first time in 40 years, this rare 10-unit portfolio in the heart of the Village of Solvay offers a unique blend of stability and upside for investors. Data in this description pertains to both 114 and 112 Freeman Avenue combined. Consisting of three structures: a 7-unit apartment building, a 2-family multi, and a single-family colonial—all contiguous and sharing off-street parking. Each of the 10 units has separate utilities and a varied mix of sizes (1 one-bedroom, six two-bedroom, two three-bedroom, and one four-bedroom stand-alone home), giving you multiple leasing and marketing strategies. Current rents are below market value, translating into a potential 13% pro forma cap rate—an exceptional value-add play. Located in a tight-knit, lakeside community just minutes from downtown Syracuse, Solvay boasts scenic outdoor amenities, small-town conveniences and attractions, and the benefit of locally controlled, low-cost utilities via municipality-owned Solvay Electric. With strong fundamentals, thoughtful upkeep, and long-term appreciation potential, this property presents a rare opportunity to acquire a performing asset with plenty of room to grow. The hands-on owner of this well-maintained package has 55 years of experience owning and managing over 100 units. He has decided to move on to new projects, presenting an excellent opportunity for the new owner.
10,928 Sq Ft
4,800 Sq Ft Lot Size
investment
$18,152 Annual Tax
Built in 1910
MLS/Listing ID S1656385
2 Stories
10 Units
Electric Range
Electric Oven
Coin-operated
Lot - Rectangular Lot
Lot - Near Public Transit
Parking - One Space
Parking - No Garage
Thermal Windows
Dishwasher
Community - Storage Facilities
Community - Laundry Facilities
Construction - Vinyl Siding
Construction - Frame
Construction - Copper Plumbing
Construction - Brick
Cooling - Zoned
Cooling - Ceiling Fans
Vinyl
Hardwood
Carpet
Heating - Zoned
Heating - Electric
Heating - Baseboard
Windows
Lighting
Appliances
Storage
Cathedral Ceilings
Common Area
Electric Water Heater
Refrigerator
TOTAL MONTHLY COST
$0
$0
$0