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Grand Ave Portfolio

$963,000

Grand Avenue, Johnson City, NY

Active
Last Updated: 03/14/2023

6.46

Cap Rate

62,174

NOI

Details:
Cap Rate:    6.46%
NOI:    $62,174
Building Size:    15,667 sqft
Lot Area:    0.84 acres
Units:    18
Occupancy:    95%
Year Built:    1970
Zoning:    Urban Multi Family
Floors:    3
Description:

This is an excellent valued add opportunity without any renovation costs needed. There are very well maintained buildings. Below market rents. This is a portfolio of 4 buildings. All buildings are in a great strategic location. Grand Ave. Buildings are walking distance to the new Pharmaceutical school, UHS and new developments in Johnson City. Margaret Street is just off of Floral Ave. Walking distance to Main Street, the public and Student bus lines. 59 Grand Ave is s solid brick 8 unit building. 51 Grand Ave is a 3 unit Tudor style building which is suitable for Executive living. The Grand Ave properties offer off street parking, an 7 bay garage, storage space and shared laundry. 12 Margaret St is 5 units. 1 very large 2 bed unit and 4, 1 Bed units. 25 Margaret is a very well maintained duplex. The Margaret Street properties are very well maintained and offer off street parking, storage and laundry. These are a must see to appreciate them.


This is a portfolio of 4 buildings. All buildings are in a great strategic location. Grand Ave. Buildings are walking distance to the new Pharmaceutical school, UHS and new developments in Johnson City. Margaret Street is just off of Floral Ave. Walking distance to Main Street, the public and Student bus lines.


4 Building- 18 Unit. Very well maintained buildings.
Well below market rents.
Tremendous value add opportunity.

Map:
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