$950,000
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9 Beds
6,240 SqFt
SOLD DATE : 11/08/2024
Key Details
Sold Price $950,000
Property Type Multi-Family
Sub Type Rooming House
Listing Status Sold
Purchase Type For Sale
Square Footage 6,240 sqft
Price per Sqft $152
MLS Listing ID R1515799
Sold Date 11/08/24
Bedrooms 9
Construction Status Existing
HOA Y/N No
Year Built 1976
Annual Tax Amount $13,676
Lot Size 0.340 Acres
Acres 0.34
Lot Dimensions 150X300
Property Sub-Type Rooming House
Property Description
Lucrative investment property with guaranteed 10+ year triple-net lease. All rent is an absolute net to the landlord. Currently, rent payments are made at $6,120 per month with annual increase of 2%. The Tenant pays for all interior and exterior maintenance, all taxes, all upgrades, all code compliance, all utilities, all insurance and all tenant liability. Long-term rental arrangement with a national Sorority organization. This is an excellent location in the growing and thriving college town of Oneonta which functions as the main hub for shopping, education, and healthcare for Otsego and Delaware County residents. The property is near Hartwick College and the State University of NY - Oneonta and a short walk to the bus stop, Main Street, and downtown local attractions. With easy access to I- 88, a 60 minute drive East or West will take you to Albany or Binghamton. The property has a city permit for up to 21 residents. It has 9 bedrooms and 5 bathrooms. It is outfitted with a commercial sprinkler system, commercial appliances, and fire escapes from the 2nd and 3rd floors.
Location
State NY
County Otsego
Area Oneonta-City-361200
Direction Head northeast on Main St toward Chestnut St. Turn left onto Maple St. Your destination will be on the left.
Rooms
Basement Full
Interior
Heating Gas, Baseboard
Flooring Hardwood, Tile, Varies
Fireplace No
Appliance Free-Standing Range, Gas Water Heater, Oven, Refrigerator
Exterior
Exterior Feature Blacktop Driveway
Community Features Other, Storage Facilities, See Remarks
Utilities Available High Speed Internet Available, Sewer Connected, Water Connected
Roof Type Asphalt
Handicap Access Accessible Doors
Garage No
Building
Lot Description Near Public Transit
Story 3
Sewer Connected
Water Connected, Public
Structure Type Wood Siding
Construction Status Existing
Schools
School District Oneonta
Others
Senior Community No
Tax ID 288.18-4-46
Security Features Radon Mitigation System
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard
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Bought with Keller Williams Upstate NY Properties