Listed by Cushman & Wakefield Pyramid Brokerage Company - Buffalo, New York, Cushman & Wakefield Pyramid Brokerage Company Syracuse
$1,480,000
247 West Utica
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 10,040
Units 12
Cap Rate 7.36%
NOI $108,971
Occupancy 100%
Tenancy Multi
Price per SqFt $147
Class B
Year Built 1926
Year Renovated 2026
Buildings 1
Investment Type Stabilized
Sale Condition N/A
Multifamily | 12 Units | $123,333/unit
Marketing description
247 West Utica (12 units). This building is 10,400 ± SF respectively and was originally constructed in 1926 with several renovations as recent as 2026. Each of the units feature updated finishes, including stainless steel appliances, while maintaining select original architectural elements such as decorative fireplaces and detailed patterned tile. The property includes shared laundry on-site, hardwood floors, and bright natural lighting. Landlord is responsible for gas, electric, water and garbage, with tenant's responsible cable/internet.
Investment highlights
- New shingle roof (July 2025): $42,000
- Flat roof replacement (2021): $26,00
- Electrical upgrades (July 2025): $6,575
- New appliances (2021): $18,240
- Water booster pump (late 2025): $8,100
- New furnace (2026): $6,000
- Unit and common area improvements (flooring, laundry room, basement storage/yoga space, and multiple unit renovations): approximately $70,000
- Additional renovations completed in Spring 2026 to Units 2, 4, 6, and 12 following a plumbing backup caused by improper disposal of sanitary products: approximately $53,000
- Total Capital Improvements Since 2021: approximately $229,915 (~$230,000)
Listing Contacts
Listed by Cushman & Wakefield Pyramid Brokerage Company - Buffalo, New York, Cushman & Wakefield Pyramid Brokerage Company Syracuse
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$108,971.00
$9,080.92/mo
Valuation Metrics
0
DSCR
7.36%
Cap Rate
7.36%
ROI
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