501 Rowland Street
Syracuse, NY 13204

Having trouble looking for a multi-unit that you can write a check for that has the upside of being able to raise rents, stabilize, and refinance? This property offers just that opportunity! There are a total of 5 units: 2x(1bed/1bath) 2x(2bed/1bath) 1x(3bed/1bath) 100% occupied, with a current GI of $30,000, but with the potential to have a GI of $46,800. All tenants are verbal, month-to-month leases. A local management has agreed to manage the property for 6%. 4 of the 5 units have been renovated with new flooring, paint, updated kitchens, and bathrooms. Other capital improvements include a new roof (complete tear-off in 2019), new siding (2019), new garage roof and doors (2019), updated electrical panel boxes (2016), refurbished boiler (2011), and roughly 60% of the windows have been replaced. Will also be delivered with a transferrable Certificate of Compliance at closing!! Delayed showings and negotiations until 4/25. Income & Expense, Pro-forma, and other property information attached to the listing. SELLER FINANCING AVAILABLE. Video tour link: https://youtu.be/m19PBk3r5J4