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Price $1,500,000

114 Freeman Avenue, Geddes, New York 13209, Geddes, New York 13209

  • Bedrooms : 10
  • Square Footage : 10,928 Sqft
  • Visits : 8 in 1 days
$1,500,000
Features
Heating System :
Electric, Zoned, Baseboard
Cooling System :
Zoned
Basement :
Full, Partially Finished
Appliances :
Dishwasher, Electric Range, Refrigerator, Electric Oven, Electric Water Heater
Community Features :
Other, See Remarks, Laundry Facilities, Storage Facilities
Parking Features :
One Space, No Garage
Pool Expense : $0
Roof :
Asphalt
Sewer :
Connected
Address Map
State :
NY
County :
Onondaga
City :
Geddes
Zipcode :
13209
Street : 114 Freeman Avenue, Geddes, New York 13209
Floor Number : 0
Longitude : W77° 47' 48.4''
Latitude : N43° 3' 34.7''
MLS Addon
Office Name : Hunt Real Estate Era
Association Fee : $0
Bathrooms Total : 0
Building Area : 10,928 Sqft
CableTv Expense : $0
Construction Materials :
Vinyl Siding, Brick, Other, Frame, Copper Plumbing
Electric :
Circuit Breakers
Electric Expense : $0
Elementary School : Solvay Elementary
Exterior Features :
Blacktop Driveway
Flooring :
Carpet, Hardwood, Varies, Vinyl
HighSchool : Solvay High
Interior Features :
Ceiling Fan(s), Cathedral Ceiling(s), Storage
Internet Address Display : 1
Internet Listing Display : 1
SyndicateTo : Realtor.com
Listing Terms : Cash,Conventional,Owner Will Carry
Lot Features :
Rectangular, Residential Lot, Near Public Transit, Rectangular Lot
LotSize Dimensions : 40X120
Maintenance Expense : $0
MiddleOrJunior School : Solvay Middle
Parcel Number : 313201-010-000-0006-008-000-0000
Special Listing Conditions :
Standard
Stories Total : 2
Utilities :
Cable Available, Electricity Connected, Sewer Connected, Water Connected, High Speed Internet Available
Virtual Tour : Click Here
Window Features :
Thermal Windows
Property Description

Available on the market for the first time in 40 years, this rare 10-unit portfolio in the heart of the Village of Solvay offers a unique blend of stability and upside for investors. Data in this description pertains to both 114 and 112 Freeman Avenue combined.

Consisting of three structures: a 7-unit apartment building, a 2-family multi, and a single-family colonial—all contiguous and sharing off-street parking. Each of the 10 units has separate utilities and a varied mix of sizes (1 one-bedroom, six two-bedroom, two three-bedroom, and one four-bedroom stand-alone home), giving you multiple leasing and marketing strategies.

Current rents are below market value, translating into a potential 13% pro forma cap rate—an exceptional value-add play. Located in a tight-knit, lakeside community just minutes from downtown Syracuse, Solvay boasts scenic outdoor amenities, small-town conveniences and attractions, and the benefit of locally controlled, low-cost utilities via municipality-owned Solvay Electric.

With strong fundamentals, thoughtful upkeep, and long-term appreciation potential, this property presents a rare opportunity to acquire a performing asset with plenty of room to grow. The hands-on owner of this well-maintained package has 55 years of experience owning and managing over 100 units. He has decided to move on to new projects, presenting an excellent opportunity for the new owner.

Basic Details
Property Type : Multi Family
Listing Type : For Sale
Listing ID : S1615202
Price : $1,500,000
Bedrooms : 10
Square Footage : 10,928 Sqft
Year Built : 1910
Lot Area : 4,800 Sqft
Status : Active
Property Sub Type : Other
Agent info
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