1008 1st North St. 4 property package for $1,060,000
2/3 units are leased
Marketing description
1008 1st North Street presents an excellent opportunity to acquire a cash-flowing 3-unit multifamily property in the City of Syracuse. The property currently features two occupied units generating a combined $2,750 per month in rental income, with long-term tenants providing stability and consistent cash flow.
The third unit is vacant, creating immediate upside for investors seeking to increase revenue through lease-up and market rent growth. Whether you’re looking to expand your portfolio, execute a value-add strategy, or occupy one unit while collecting rental income from the others, this property offers flexibility and potential.
Located on Syracuse’s Northside, the property benefits from convenient access to downtown Syracuse, major employment centers, shopping, dining, and public transportation. With existing income already in place and additional earning potential available, 1008 1st North Street is a compelling investment opportunity in one of Central New York’s most active rental markets.
Investment highlights
- 3-Unit Multifamily Asset located in Syracuse’s Northside neighborhood with immediate income and future upside.
- Two occupied units generating $2,750/month in current gross rental income ($1,400 and $1,350).
- Vacant unit provides value-add opportunity for investors to increase cash flow through lease-up at market rents.
- Long-term tenant base offers stability and reduced turnover expenses.
- Opportunity to increase overall property revenue by placing a tenant in the vacant unit and optimizing rents over time.
- Ideal for both seasoned investors and owner-occupants looking to offset living expenses.
- Strong rental demand in the Syracuse market driven by proximity to downtown, major employers, public transportation, and local amenities.
- Opportunity to acquire a partially stabilized asset with built-in upside on day one.
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