Seller's Agent in 2024
Christopher Newman
Acropolis Realty Group LLC
(315) 412-1975
4 in this area
224 Total Sales
325 Liberty St Syracuse, NY 13204
Park Ave NeighborhoodEstimated Value: $386,968
--
Bed
--
Bath
6,951
Sq Ft
$56/Sq Ft
Est. Value
Highlights
- 0.22 Acre Lot
- Wood Flooring
- Forced Air Heating System
- Property is near public transit
- Furnished
- 2-minute walk to Frazer Park
About This Home
As of July 2024With $72,000 annual rent and experienced onsite management, this 13-unit SRO property will make an excellent high-cashflow addition to your investment portfolio. No matter what metric you use: cash on cash, cap rate, monthly cashflow, this property is a winning turnkey investment. The building consists of 13 furnished rooms each with a small kitchenette, plus two shared bathrooms. The resident manager has lived onsite for 15+ years and handles most management duties including leasing, rent collection, and minor repairs. The property operates extremely efficiently. Currently fully rented with 100% on-time rent collection. It is a quiet building, mainly rented to long term tenants, some of whom have lived there for over 20 years. Many recent capital improvements including driveway paving (2022), new windows (2022), new roof (2014), and vinyl siding. This has been a profitable investment for the current landlord for many years, but the owner is now retiring, offering a great opportunity to add a high cashflow/low maintenance property to your portfolio. Can be combined with 136 Lakeview Ave for over $104,000/year rent, or further combined with 710 E Laurel St for over $128,000/year.
Last Agent to Sell the Property
Listing by Acropolis Realty Group LLC License #10301218603 Listed on: 05/19/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,731
Year Built
- Built in 1940
Lot Details
- 9,695 Sq Ft Lot
- Lot Dimensions are 70x138
Home Design
- Vinyl Siding
- Copper Plumbing
Interior Spaces
- 6,951 Sq Ft Home
- 3-Story Property
- Furnished
- Wood Flooring
- Basement Fills Entire Space Under The House
Parking
- No Garage
- Driveway
Location
- Property is near public transit
Utilities
- Forced Air Heating System
- Heating System Uses Gas
- Gas Water Heater
- Cable TV Available
Listing and Financial Details
- Rent includes common area maintenance, electricity, heat, hot water, snow removal, water
- Tax Lot 12
- Assessor Parcel Number 311500-108-002-0006-012-000-0000
Community Details
Overview
- 13 Units
Building Details
- 1 Separate Gas Meter
- Operating Expense $23,081
- Gross Income $72,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 19, 2024
Closed on
Jul 23, 2024
Sold by
Treehouse Investments Llc
Bought by
Pillar Re P Inc
Seller's Agent
Christopher Newman
Acropolis Realty Group LLC
Buyer's Agent
Kristi Croniser
Integrated Real Estate Ser LLC
List Price
$399,900
Sold Price
$380,000
Premium/Discount to List
-$19,900
-4.98%
Views
27
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$6,968
Avg. Annual Appreciation
1.73%
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Pillar Re P Inc | $380,000 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Treehouse Investments Llc | $395,279 | |
| Previous Owner | Treehouse Investments Llc | $206,850 | |
| Previous Owner | Treehouse Investments Llc | $39,871 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/24/2024 07/24/24 | Sold | $380,000 | -5.0% | $55 / Sq Ft |
| 05/24/2024 05/24/24 | Pending | -- | -- | -- |
| 05/19/2024 05/19/24 | For Sale | $399,900 | -- | $58 / Sq Ft |
Source: Central New York Information Services
Tax History Compared to Growth
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 | -- | $80,000 | $24,000 | $56,000 |
| 2023 | $1,515 | $80,000 | $24,000 | $56,000 |
| 2022 | $1,266 | $80,000 | $24,000 | $56,000 |
| 2021 | $1,266 | $70,000 | $24,000 | $46,000 |
| 2020 | $1,311 | $70,000 | $24,000 | $46,000 |
| 2019 | $1,312 | $70,000 | $24,000 | $46,000 |
| 2018 | $1,312 | $70,000 | $24,000 | $46,000 |
| 2017 | $1,265 | $70,000 | $24,000 | $46,000 |
| 2016 | $1,286 | $70,000 | $24,000 | $46,000 |
| 2015 | -- | $70,000 | $24,000 | $46,000 |
| 2014 | -- | $70,000 | $24,000 | $46,000 |
Source: Public Records
Agents Affiliated with this Home
-
-
Buyer's Agent in 2024
Kristi Croniser
Integrated Real Estate Ser LLC
(315) 750-8203
4 in this area
161 Total Sales
Map
Source: Central New York Information Services
MLS Number: S1539315
APN: 311500-108-002-0006-012-000-0000
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