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$ 169,600
Est. payment /mo
Active
83-85 West Clark Street Ilion, NY 13357
8 Beds
4 Baths
4,784 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,784 sqft
Price per Sqft $35
MLS Listing ID 12044239
Bedrooms 8
Full Baths 4
Year Built 1900
Annual Tax Amount $3,721
Property Description
Call/Text: (3I5) 723-29O3 *** Priced at a 22.5% cap rate. *** Fully rented 4-unit multifamily in the Village of Ilion. This classic two-story 4-unit delivers ~$38,160 in annual NOI, a 22.5% cap at the list price of $169,600. Each of the four apartments is separately metered for electric, so tenants carry their own utility costs. The property is served by municipal water and public sewer and has a gravel driveway with off-street parking. Property taxes are just $3,721 a year, which keeps the expense ratio manageable. Rents are in line with the market, and tenant demand stays steady thanks to the village location near Route 5S, the Thruway, and Herkimer County's employment base. This is a high return on investment property for buyers building a cash-flowing portfolio. Sold as-is. Rent roll and expenses available upon request.
Location
State NY
County 36043
Rooms
Dining Room 0
Kitchen 0
Building
Water Municipal
Structure Type Frame
Others
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Tenisha Davis, Licensed Real Estate Broker
Licensed Real Estate Broker - GRI, ABR, CBR, SFR, SRS - Notary Public