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28736944
28715825

548 Clarendon St, Syracuse, NY 13210

AS
NY 10401388938
GREA
KW
PA 10401252368
GREA
SR
FL SL3567994
GREA
Listed by GREA
$2,800,000
188 days on market
Updated 27 days ago

OFF CAMPUS STUDENT HOUSING NEAR SYRACUSE UNIVERSITY

Details
Property Type Multifamily
Sub Type Student Housing
Square Footage 62,500
Units 9
Beds 28
Occupancy 100%
Pro-Forma Cap Rate 8.50%
Pro-Forma NOI $238,510
Price per SqFt $45
Buildings 4
Stories 2
Investment Type Value Add

Multifamily | 9 Units

Marketing description

Global Real Estate Advisors (GREA) exclusively offers to investors the opportunity to acquire the fee simple interest in a strategically located student housing portfolio near Syracuse University. A private research institution located in the heart of Central New York, SU has grown its academic divisions to 13 schools and colleges since opening in 1870. With more than 40 research centers and institutions, Syracuse is one of 39 private doctoral universities nationwide with an R1 Carnegie Classification.

Approximately 8,000 students live on campus, primarily undergraduate students, as SU requires most first- and second-year students to live on campus. 50% of undergraduates live off campus. Many students move off-campus after their first or second year, particularly to areas close to the University, such as the neighborhoods surrounding University Hill and Westcott. SU’s student population continues to grow, creating sustained demand for housing.

The portfolio consists of 4 renovated historic student housing properties located approximately three blocks from Syracuse University and the Westcott Commercial District.:

  • 536 Clarendon Street: Single-family home; 6 bedrooms/3 bathrooms

  • 548 Clarendon Street: Single-family home; 6 bedrooms/3 bathrooms (currently operated as 7; historically 8 bedrooms, buyer to determine future use)

  • 543-545 Clarendon Street: 3 units totaling 8 bedrooms/3 bathrooms (currently operated as 7; historically 8 bedrooms, buyer to determine future use)

  • 702-704 Lancaster Avenue: 4 units with 8 bedrooms and 4 bathrooms

The properties feature hardwood flooring, updated building systems, on-site laundry, off-street parking, porch or deck, fireplace, workout area, and hot tub (not available in all properties).

This offering presents an exceptional opportunity for investors seeking exposure to the student housing sector in one of the Northeast's most reputable college towns.

Investment highlights

  • Prime Location: Within walking distance of Syracuse University, these properties offer ideal housing options for students

  • Strong Rental History: High occupancy rates driven by consistent demand from both undergraduate and graduate students

  • Long-Term Growth: Market supported by a major university with consistent enrollment, providing a stable tenant base

Listing Contacts

AS
NY 10401388938
GREA
KW
PA 10401252368
GREA
SR
FL SL3567994
GREA
Listed by GREA

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Additional Information

Name
Adam Sokolowski
License
10401388938
Brokerage
GREA
Brokerage Phone
2154542852
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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