1408 E Main St, Endicott, NY, 13760

Highlights

• 1. 2 buildings total of 8,264 SF with 10 units
• 2. Value add opportunity with 4 units in back house
• 3. Prime location in Endicott area
• 4. Proximity to essential amenities
• 5. Attractive rental income potential

Description

SVN presents a lucrative investment opportunity with this 10-unit complex situated on Main Street in Endicott. The front house comprises six units, offering a versatile mix of 1, 2, and 3 bedrooms. However, the back house currently stands vacant due to code violation. Specifically, the front porch/balcony of the back house requires reconstruction to meet code standards, rendering it temporarily uninhabitable. Despite its current status, the back house presents a potential income boost once renovated. Current cap rate based on 6 rented units. Income from renting back 4 units significantly increases GOI and cap rate. Each unit features separate electric metering, with tenants responsible for their electricity costs. Meanwhile, the landlord covers gas, water, sewer, and garbage expenses. This property represents a promising value-add opportunity, inviting prospective investors to bring their renovation ideas to the table.

Endicott's rich history and vibrant cultural scene make it an attractive location for those seeking to invest in Multifamily properties, offering a blend of urban convenience and suburban tranquility. Home to BAE Systems and future site of a lithium battery plant makes Endicott a smart choice for investors. This property is in the heart of Endicott, next to Dunkin, near Union Endicott High School and downtown Endicott. Located on the bus line.

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