1000 Bellevue Avenue, Syracuse, NY 13204 | MLS S1522594 | Listing Information | Arquette & Associates, Realtors

1000 Bellevue Avenue
Syracuse, NY 13204

Single Family
Sq. Ft.
Acre Lot
Courtesy: Zachary Johnson - Hunt Real Estate Era
Arquette Realtors> New York> Syracuse> 13204
Welcome to 1000 Bellevue, a meticulously maintained property offering an exceptional investment opportunity. This 18-unit has been thoughtfully managed and optimized for a seamless transition. Extensive work has been done to enhance the property's value and reduce maintenance costs. The pro forma outlines significant revenue growth opportunities. With 16 2-bed units currently renting at $1,100, owner has converted 3 of them into 3 bed units, capturing market rents of $1,380. This leaves the remaining 13 units for the new owner. This will increase rental income by $$4,480 a month and $53,760. Additionally, $21,600 can be added from a basement storage area that can be built out for tenant use per $100 per unit. With a current NOI of $17900 and a pro forma NOI of $240,000, the property offers solid returns. Various cap rate scenarios ranging from 8%-9% present attractive investment options to buy with existing equity already built in. Don't miss this opportunity to acquire a turnkey investment with significant upside.
Residential - Single Family, 3+ Story
0.1682 Acres
The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

Walk Score

Transit Score

Bike Score

Courtesy: Zachary Johnson - Hunt Real Estate Era
The broker providing the data believes the data to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. Copyright 2020 Central NY MLS. All rights reserved.
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