208 Westcott Street
33-Bed Fully Furnished Student Housing
Marketing description
Capital Expenditure Upgrades
- New Roofs
- Luxury Vinyl Flooring Throughout
- New White Shaker Cabinets & Granite Countertops
- Tile Backsplash
- Stainless-steel Appliances including microwave, dishwasher,
fridge & oven/range
- Fresh Paint Throughout
- New Bath Showers, Vanities & Toilets with tile
- Updated Electrical Fixtures & Outlets
- Updated Electrical Panels/Circuit Breakers
- Upgraded Furnaces & Hot Water Heaters where needed
- Many other misc upgrades
Multiple Parcels
• This portfolio consists of 4 individual, separately parceled duplexes
for a total of 8-units with 33-beds. 212 Westcott includes in the
same parcel a vacant lot between 212 & 216 Westcott (known as
214 Westcott) for additional parking or future development.
• Addresses:
110 Westcott St. Syracuse, NY 13210
208 Westcott St. Syracuse, NY 13210
212 Westcott St. Syracuse, NY 13210
216 Westcott St. Syracuse, NY 13210
Investment highlights
Exclusively offered by Dante Belmonte of Hunt Real Estate ERA,
this 33-Bedroom Syracuse University Student Housing Portfolio is a
rare opportunity to acquire a great number of beds in a highly
sought after student housing area. This portfolio consisting of 33-
bedrooms across four individual properties was completely
renovated from top to bottom. All units come fully furnished with a
bed/mattress, desk & chair in each bedroom and a furnished living
room. Once stabilized, this portfolio is being offered at a 10%+ cap
rate.
• The portfolio is fully vacant allowing the new owner to come in and
select their own residences. All units are fully furnished with a
bed/mattress, desk & chair in each bedroom as well as a furnished
living-room.
• Offered at a price below the per-bed cost of comparable assets in
the area, this portfolio allows investors to acquire these properties
at an attractive basis. With all capital improvements completed, new
ownership can focus on leasing and operations at market rates of
anywhere from $525 - $700 per bed for a total of $240k+ a year in
gross income unlocking substation value & long-term cashflow.
With the option of seller financing or traditional financing this asset
will produce anywhere from a 15-20% cash-on-cash return.
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