114 Freeman Ave Solvay, NY 13209
Estimated payment $9,473/month
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.
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
Map
Home Values in the Area
Average Home Value in this Area
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
MLS Number: S1615202

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