TWO ADJACENT QUADPLEX Buildings are now available as a package deal, creating a rare EIGHT UNIT INVESTMENT OPPORTUNITY in the strong rental market in the City of Oneonta. These two homes share a maintenance shed, backyard space, and off street parking.The location is perfect, just off of River Street and a short walk to Main Street, local schools, and fixtures like the Boys and Girls Club of Oneonta. It is quiet, with parking available along the street in addition to the off street parking lot. The building has been well-maintained with several new furnaces and all new water heaters installed for every unit. The roofing has been recently updated as well. Tenants are all reliable and up to date on rent payments. With current rental prices substantially below the area average, income growth is expected. Tenants pay for utilities except garbage, city water and septic. NOI is $50, 000+ even at these very reasonable rental rates. Expected NOI after adjusting to market rents in the next few years is $60, 000+. The current cap rate is 10%+. This location is a growth market for your money, pulling shoppers from four counties. Next closest shopping hub is Binghamton to the west and Albany to the east. Baseball tourism is booming, pulling families from all over the country to the baseball Mecca of the world, Cooperstown, and Oneonta which has growing baseball camps and tourism. There are two colleges, SUNY Oneonta and Hartwick. Basset Medical Center is nearby with its network of healthcare providers. Many corporations are also close including headquarters or main hubs for Chobani, Corning, Amphenol, Astrocom, Ioxis, Spectrum, NYSEG and more.This property is only available as a package sale. Please do not inquire about buying only one of the buildings. They will not be split up. Please reach out for additional information or to submit an offer.
