322 W Franklin St, Endicott, NY, 13760

Highlights

• High-performing multifamily asset with a 10% cap rate, 1.57 DSCR, 15% cash on cash year one, solid rental history, and low electricity costs to tennants through Municipal Electric.
• Turnkey investment featuring updated electrical, new coin-operated laundry income, tenant-paid electric, and one vacancy for immediate lease-up or value-add upside.
• Prime Endicott location in a growing submarket with strong renter demand, stable occupancy, and recent appraisal of $350,000 supporting value.

Description

Back on the market due to buyer default, this well-maintained 4,176 SF, 6-unit multifamily building presents a high-yield investment opportunity in the rapidly growing Endicott market. Built in 1971 and located in the desirable Urban Single-Family (USF) Zone, the property offers strong cash flow, stable tenancy, and long-term appreciation potential. Each spacious unit attracts quality tenants and supports a solid rental history, with one current vacancy offering immediate lease-up or value-add upside. Recent upgrades include updated electrical throughout, placement within the Municipal Electric Zone for reduced cost to tenants, and a new coin-operated laundry system that generates additional income. Tenants pay electric, and the landlord pays heat. Financial highlights include a 10% cap rate, 1.57 DSCR, and an appraisal of $350,000, with both an inspection report and loan opinion letter from Dansker Capital Group available upon request, making this a turnkey, income-producing multifamily asset in one of Endicott’s most promising submarkets.

Discover the rich potential of Endicott, NY! The area is steeped in history and offers a vibrant community that is ideal for Apartment Building investors. With a prime location near the heart of town, the property is surrounded by an array of amenities, including charming local shops, delicious dining options, and convenient public transportation. Nearby attractions like the historic Endicott Performing Arts Center and the picturesque Highland Park add to the allure of the area. Additionally, the property is located in the municipal electric zone, providing an attractive benefit for residents. This is an exceptional opportunity to invest in a community with a bright future and endless appeal for tenants seeking a comfortable and convenient lifestyle.

Documents