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Home For Sale

Picture of Home For Sale in Oneonta, New York, United States

$369,900

58 East St Unit 56
Oneonta, New York, United States

7bd 3ba

Listed By: Realtyww Info

Listed On: 08/01/2024

Listing ID: GL11744904 View More Details

Description

3 UNIT - 7 BEDROOM INVESTMENT PROPERTY. Student Rental. Newly renovated and fully furnished. 3 bedrooms and 1 full bath in apartments 1 and 2, apartment 3 has 1 bedroom and 1 full bath. Apt 1 features new vinyl plank floors throughout and has basement access for laundry. Apts 2 and 3 are newly renovated with new kitchen cabinets, granite countertops, stainless steel appliances, and new vinyl plank floors. Electrical upgrades have been made throughout. The exterior includes vinyl siding, replacement windows, and off-street parking. Near downtown, campus and bus routes. A Certificate of Compliance is in place, and the seller is a licensed real estate broker. This is a great cash flow opportunity! 2024-2025 School Year GROSS INCOME: $39, 850 Reduced rent due to signing mid-renovation. Currently advertising for the 3 open bedrooms for the spring semester, potential $10, 500 more. Rent per student is $4, 500/semester x 2 = $9, 000 / student x 7 students = $63, 000 / potential gross income in 25-26 school year EXPENSES: Land and School Taxes=$5, 693 Insurance = $1, 500 Heat/Electric = $3, 500 Cable/Internet = $1, 200 Garbage = $500 Water/Sewer = $800 NET OPERATING INCOME = $26, 657

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Listed by: Timothy Sagasti
Source: The World Property Journal

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