1323 State Highway 12B, Lot#WP001Hamilton, NY 13346Madison CountyGet Directions
This great income-producing investment opportunity is only 2 miles from the village of Hamilton, recently named one of the Friendliest Towns in America by Forbes Magazine and home to the nationally ranked liberal arts college of Colgate University. This property is in a highly desirable location, minutes from town but still in the country. It is also located within the Hamilton Central School District, a top-rated school in NYS by US News & World Report. The property consists of two separate 2-story apartment buildings with ample parking out front. There are three 2 bedroom/1 bath apartments, one 3 bedroom/1.5 bath apartment, and one 4 bedroom/2 bath apartment. Four of the apartments are occupied with solid rental history, even during COVID, with a current monthly income at ~$3000/month for 4 of the units. The 4 bedroom apartment is currently occupied by the owner and could add substantially to the monthly income. All units have been entirely remodeled from the ground up between 2000 and 2007, so the units have been all updated and in very good condition. Standard appliances come with each unit, including range, refrigerator, and a closet with hook-ups for washer/dryer. The two larger units also include dishwashers, and the 4 bedroom includes a microwave/range hood. The building with the (3) 2 bedroom apartments each has a patio with a fenced-in backyard for privacy, while the larger units have small decks out back—high-speed internet provided by Spectrum. Electricity and heat are provided by Hamilton Electric Co-op, a highly respected and sought-after service provider, offering an average residential rate of 53.5% less than the New York State average rate with considerable savings. There is ample parking out front of the entire complex and a nice yard around the side and back. The property has a great location near the pretty village of Hamilton for amenities as well as area attractions and culture: renowned restaurants and breweries, shopping, culture and performing arts in Hamilton, Syracuse, Clinton/Utica, and Cooperstown, outstanding fishing and boating in numerous lakes and rivers all well within an hour or less. NYS Lands, Forest, and Wildlife Management areas abound in the surrounding areas. Only one hour from Syracuse and less than four hours from the George Washington Bridge.
Immediate income producing 5 unit apartment complex