400-422 James Street
Syracuse,
NY
13206
Property Details
List Price: |
$100 |
Beds: |
-- |
Baths: |
-- |
Status: |
Active |
SqFt: |
65535 |
Agency: |
CRE GROUP INC |
Description/Comments
Lot Size: |
1 acre(s) |
Property Type: |
MultiFamily |
Year Built: |
1902 |
Notes: |
**Unpriced** The building is a Romanesque Revival building designed by Archimedes Russell in 1902. Positioned at a prime location near a prominent gateway to Downtown Syracuse, this property offers tenants the advantage of being in proximity to all downtown amenities. The building, comprising 166 Units 175 Rooms Multifamily/SRO, with a projected NOI of $1.103M for 2025. The current owners who were managing for prior ownership have been taking great strides to evict, fix-up, rent vacancies and increase rents to stabilize the asset for a new buyer to value add. The Snowdon is currently 78% occupied. The potential for enhancing value is substantial. By investing approximately $1.5M in renovations, an operator can combine the remaining single rooms, thus augmenting the gross operating income and progressively elevating rents. The current on-site management is open to continuing their roles for a period of transition, further enhancing the appeal of this acquisition. Please contact for full Offering Memorandum and Financials. |
MlsNumber: |
11233524 |
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Listing Provided By: |
CRE GROUP INC, original listing |
Name: |
CRE GROUP INC |
Office Name: |
CRE GROUP INC |
Agent Name: |
Stavros Koutsantonis |
Disclaimer: |
Copyright © 2024 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |