$1,500,000

114 Freeman Ave Solvay, NY 13209

Estimated payment $9,473/month

Total Views 4,648
10 Beds
-- Bath
10,928 Sq Ft
$137 Price per Sq Ft

Highlights

  • Property is near public transit
  • Wood Flooring
  • Zoned Heating
  • Cathedral Ceiling
  • Energy-Efficient Appliances
  • Ceiling Fan

About This Home

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.

Listing Agent

Bill Crocker

Listing by Hunt Real Estate Era Listed on: 07/03/2025

Hunt Real Estate Era

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,152

Year Built

  • Built in 1910

Lot Details

  • 4,800 Sq Ft Lot
  • Lot Dimensions are 40x120
  • Rectangular Lot

Home Design

  • Brick Exterior Construction
  • Vinyl Siding
  • Copper Plumbing

Interior Spaces

  • 10 Bedrooms
  • 10,928 Sq Ft Home
  • 2-Story Property
  • Cathedral Ceiling
  • Ceiling Fan
  • Partially Finished Basement
  • Basement Fills Entire Space Under The House

Kitchen

  • Electric Oven
  • Electric Range
  • Dishwasher

Flooring

  • Wood
  • Carpet
  • Vinyl

Parking

  • No Garage
  • Driveway

Eco-Friendly Details

  • Energy-Efficient Appliances
  • Energy-Efficient Windows
  • Energy-Efficient Lighting

Location

  • Property is near public transit

Schools

  • Solvay Elementary School
  • Solvay Middle School
  • Solvay High School

Utilities

  • Zoned Heating
  • Baseboard Heating
  • Electric Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 8
  • Assessor Parcel Number 313201-010-000-0006-008-000-0000

Community Details

Overview

  • 10 Units

Amenities

  • Coin Laundry
  • Community Storage Space

Building Details

  • 4 Separate Gas Meters
  • Gross Income $180,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,152

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Sub Type: Other
  • Property Type: Multi Family
  • Year Built: 1910
  • ResoLaundryFeatures: Common Area, Coin-operated
  • Lot Features: Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
  • Road Frontage Type: City Street, Main Thoroughfare
  • Directions: Village of Solvay: Milton Ave to Freeman Ave.
  • Flooring: Carpet, Hardwood, Varies, Vinyl
  • Garage Yn: No
  • Interior Features: Ceiling Fan(s), Cathedral Ceiling(s), Storage
  • Unit Levels: Two
  • Efficiency: Appliances, Lighting, Windows
  • Year Built Details: Existing
  • Financial Info Electric: Circuit Breakers
  • Property Sub Type Additional: Other
  • Special Features: VirtualTour

Interior Features

  • Appliances: Dishwasher, Electric Oven, Electric Range, Electric Water Heater, Refrigerator
  • Basement: Full, Partially Finished
  • Basement YN: Yes
  • Total Bedrooms: 10
  • Stories: 2
  • Stories: 2

Exterior Features

  • Acres: 0.1102
  • Waterfront: No
  • Construction Type: Brick, Frame, Other, Vinyl Siding, Copper Plumbing
  • Exterior Features: Blacktop Driveway

Garage/Parking

  • Parking Features: One Space, No Garage

Utilities

  • Cooling: Zoned
  • Heating: Zoned, Baseboard, Electric
  • HeatingYN: Yes
  • Utilities: Cable Available, Electricity Connected, High Speed Internet Available, Sewer Connected, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Community Features: Laundry Facilities, Other, Storage Facilities, See Remarks
  • Senior Community: No

Schools

  • Junior High Dist: Solvay
  • Ninth Grade High School: Solvay High
  • Middle Or Junior School: Solvay Middle

Lot Info

  • Parcel Number: 313201-010-000-0006-008-000-0000
  • Lot Dimensions: 40X120
  • Lot Size Sq Ft: 4800.0
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Number Of Units Total: 10
  • Annual Gross Income: 180000.0
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 4

Tax Info

  • Tax Annual Amount: 18152.0
  • Tax Lot: 8

MLS Schools

  • Elementary School: Solvay Elementary

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/03/2025 07/03/25 For Sale $1,500,000 -- $137 / Sq Ft
Source: Central New York Information Services

Source: Central New York Information Services

MLS Number: S1615202

Central New York Information Services