Welcome to 505 Cogswell Avenue, a well-maintained triplex located in the heart of Solvay, offering the benefit of Solvay Electric for incredibly low utility costs. Owned and cared for by the same owner for nearly 15 years, this property presents an excellent opportunity for both investors and owner-occupants.
Unit 1 is a spacious 4-bedroom, 1-bathroom apartment that has been fully renovated from top to bottom. Upgrades include new vinyl flooring, carpet, trim, cabinets, countertops, appliances, bathroom fixtures, electrical wiring, outlets, and more. This unit is currently vacant, offering flexibility—move in and let the other two units pay your mortgage, or rent it at market rate for $1,700+ per month for strong cash flow.
Unit 2 is a 2-bedroom apartment recently updated and currently rented at $700/month on a month-to-month lease. Unit 3 is a 1-bedroom unit, also renovated, and currently rented at $600/month, also month-to-month. Both are significantly below market rents, offering upside for increased income.
Each unit is separately metered:
• Unit 1: Gas furnace
• Unit 2: Gas furnace
• Unit 3: Electric baseboard heat.
Each unit has its own gas meter (National Grid), electric meter (Solvay Electric), and hot water tank. Landlord only pays for water/sewer.
Additional highlights include:
• Roof replaced in 2010
• Off-street parking for multiple vehicles
• Laundry hookups in the basement for Units 1 and 2
Whether you're looking to house hack or add a strong-performing asset to your portfolio, this property delivers both cash flow potential and long-term value. Schedule your showing today!
