Copper City Electric
Listed by Copper City Electric
$325,000
26 Lincoln Avenue
Details
Property Type Retail, Multifamily
Sub Type Student Housing
Square Footage 3,385
Net Rentable (SqFt) 100
Units 10
Cap Rate 13.00%
NOI $43,077
Occupancy 100%
Tenancy Multi
Lease Type Gross
Lease Term 1
Lease Expiration 05/20/2027
Remaining Term 1
Pro-Forma Cap Rate 13.00%
Pro-Forma NOI $43,077
Class A
Year Built 1920
Year Renovated 2020
Acreage 0.200
Zoning Residential
Lease Commencement 05/20/2026
Ground Lease No
Sale Condition For sale by owner
STUDENT HOUSING- LONG RENTAL HISTORY -100% Leased for the 26/27 season- 13% CAP RATE
Marketing description
STRONG RENTAL HISTORY
UPDATED KITCHENS
LARGE APTS
CONVENIENT LOCATION
Investment highlights
STRONG RENTAL HISTORY- OWNER SELLING DUE TO RETIRING. LAST REMAINING HOME TO SELL IN CORTLAND AREA. EXTRA INCOME BEING GENERATED FOR SUMMER MONTHS FROM STUDENT RENTALS. JUST BLOCKS FROM CAMPUS AND DOWNTOWN. OWNER HAS RECENTLY INSTALLED A NEW FURNACE, 2 NEW HOT WATER HEATERS AND NEW LAUNDRY UNIT. POTENTIAL OF INCREASE OF RENTS FOR DOWNSTAIRS STUDENTS. THEY ARE ONLY PAYING 2600, WHILE THE UPSTAIRS STUDENTS ARE PAYING 3600 AND 4150
GROSS INCOME 66275.00 ACTUAL EXPENSES $23,198. NET $43,077. FULLY RENTED 13.2% CAP RATE
Listing Contacts
Copper City Electric
Listed by Copper City Electric
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$43,077.00
$3,589.75/mo
Valuation Metrics
0
DSCR
13.25%
Cap Rate
13.25%
ROI
Map
Zoning
R-2 ResidentialTwo FamilyMedium Density Residential
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View all 24 uses
View all 24 uses Last updated Apr 13, 2026 For deeper zoning details, reports are available at Zoneomics
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