221 N Prospect ST, Herkimer, NY 13350
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221 N Prospect ST, Herkimer, NY 13350
221 N Prospect ST, Herkimer, NY 13350
221 N Prospect ST, Herkimer, NY 13350
221 N Prospect ST, Herkimer, NY 13350
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221 N Prospect ST Herkimer, NY 13350

5,652 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 5,652 sqft

Price per Sqft $37

MLS Listing ID S1718227

Construction Status Existing

HOA Y/N No

Year Built 1974

Annual Tax Amount $4,969

Lot Size 6,969 Sqft

Acres 0.16

Lot Dimensions 58X105

Property Sub-Type Apartment

Property Description

Excellent investment opportunity in a convenient location! This well-maintained five-unit apartment building offers a desirable mix of units, including three one-bedroom apartments, one studio, and one two-bedroom apartment. The property features a relatively new roof and has been well cared for, making it an appealing addition to any investment portfolio.All five units are currently rented, providing immediate income, while the current rents offer significant upside potential for a new owner. With rents positioned below current market potential, there is an opportunity to increase income and improve the property's overall cash flow over time.The location is hard to beat, with direct access to Herkimer College and all of the village's amenities within easy travel distance. Tenants also benefit from six dedicated parking spaces.Whether you're looking to expand your rental portfolio or seeking a property with strong potential to increase revenue, this five-unit property offers location, condition, existing income, and plenty of room for growth.

Location

State NY

County Herkimer

Area Herkimer-Village-213001

Zoning Res/Com

Interior

Heating Gas, Forced Air

Inclusions Land and Building

Fireplace No

Exterior

Utilities Available Sewer Connected, Water Connected

Roof Type Asphalt

Total Parking Spaces 6

Building

Lot Description Rectangular, Rectangular Lot

Story 2

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Block

Construction Status Existing

Schools

School District Herkimer

Others

Tax ID 213001-120-025-0001-004-000-0000

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Trust

Virtual Tour https://www.propertypanorama.com/instaview/syr/S1718227

Listed by Coldwell Banker Faith Properties

NEARBY SCHOOLS & PROPERTIES

CB Faith Broker

CB Faith Broker

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221 N Prospect ST

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