2369 New York 5 Chittenango, NY 13037
Estimated payment $2,306/month
Highlights
- 2.07 Acre Lot
- Rectangular Lot
- 1-Story Property
- Baseboard Heating
- Carpet
About This Home
Former Motel Turned 9-Unit Apartment Complex – Value-Add Opportunity!
Now offered for sale, this former roadside motel has been converted into a 9-unit apartment building, primarily consisting of one-bedroom units. Situated on a spacious lot with 20+ parking spaces, this property is serviced by well and septic, minimizing utility expenses and infrastructure costs. All units are heated by baseboard boiler. There are two gas boilers which the landlord pays for and the property has upgraded electrical which the landlord also pays for. There are new coin-operated laundry machines which brings in about $140 additional income per month.
The property offers a prime opportunity for investors to reposition and increase income even higher. With the right upgrades, there’s significant upside potential through improved rents to market rate. With lots of drive-by traffic, occupancy has been at 100% year after year minimizing turnover as all of the same tenants have been at this property for 5+ years.
Located in a rural yet accessible area, this property is ideal for investors looking to bring an additional asset into their portfolio at a fraction of the cost of anything else on the market!
Listing Agent
Listing by Hunt Real Estate ERA License #10401323828 Listed on: 07/14/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,191
Year Built
- Built in 1947
Lot Details
- 2.07 Acre Lot
- Lot Dimensions are 509x235
- Rectangular Lot
Home Design
- Brick Exterior Construction
Interior Spaces
- 8 Bedrooms
- 8,618 Sq Ft Home
- 1-Story Property
- Carpet
- Basement Fills Entire Space Under The House
Kitchen
- Electric Oven
- Electric Range
Parking
- No Garage
- Gravel Driveway
Utilities
- Heating System Uses Gas
- Baseboard Heating
- Well
- Electric Water Heater
- Septic Tank
Community Details
- 9 Units
Listing and Financial Details
- Tax Lot 16
- Assessor Parcel Number 254889-042-000-0001-016-000-0000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,212 | $57,000 | $37,000 | $20,000 |
| 2023 | $2,192 | $57,000 | $37,000 | $20,000 |
| 2022 | $2,107 | $57,000 | $37,000 | $20,000 |
| 2021 | $2,092 | $57,000 | $37,000 | $20,000 |
| 2020 | $2,047 | $57,000 | $37,000 | $20,000 |
| 2019 | $1,983 | $57,000 | $37,000 | $20,000 |
| 2018 | $1,983 | $57,000 | $37,000 | $20,000 |
| 2017 | $1,982 | $57,000 | $37,000 | $20,000 |
| 2016 | $1,977 | $57,000 | $37,000 | $20,000 |
| 2015 | -- | $42,000 | $37,000 | $5,000 |
| 2014 | -- | $42,000 | $37,000 | $5,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/14/2025 07/14/25 | For Sale | $400,000 | -- | $46 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $272,000 | Chicago Title | |
| Deed | $42,000 | Laurence Brown |
Source: Central New York Information Services
MLS Number: S1622054
APN: 254889-042-000-0001-016-000-0000
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