For Sale
|
5 + Unit Apartments
|
454 South Massey Street Street , Watertown, NY 13601
$374,900
Listing Courtesy of North Star Real Estate & Property Management
For Sale
|
5 + Unit Apartments
|
454 South Massey Street Street , Watertown, NY 13601
$374,900
|
0.6494
acres |
|
|
|
4,215
sq ft |
|
|
|
5
apts |
|
|
|
Property Description
You found it—the investment property you`ve been waiting for! This turnkey 5-unit multifamily property is 100% occupied and generating income from day one. Featuring five 1-bedroom, 1-bath apartments, this well-maintained asset offers the combination investors are always searching for: strong occupancy, consistent cash flow, low maintenance, and pride of ownership throughout. The property currently generates $51,600 in annual gross income and approximately $36,000 in Net Operating Income, with low annual property taxes of just $3,356. Four of the five units have been extensively renovated with updated kitchens, bathrooms, electrical systems, lighting, flooring, and fresh paint, creating attractive and comfortable living spaces for tenants. The property shows exceptionally well and offers peace of mind with no known deferred maintenance. Exterior improvements include recently painted wood siding, a shingle roof, and a blacktop driveway with ample off-street parking. Additional income-producing and tenant-friendly amenities include coin-operated laundry, individual tenant storage lockers, steel egress ladders, and a storage shed currently used for maintenance equipment and materials. Situated on a large lot with a private setting, this property offers a surprising sense of seclusion while remaining conveniently located in the heart of Watertown, just minutes from shopping, restaurants, employment centers, and everyday conveniences. Investors will also appreciate the potential for future upside. With four renovated units, desirable amenities, and a strong rental history, there may be an opportunity for a new owner to bring rents closer to current market rates over time, potentially increasing income and overall returns. Whether you`re looking to expand your portfolio or secure a proven income-producing asset, this fully occupied and professionally maintained property is ready to deliver from day one. Schedule your private showing today!
Property Summary
| Type |
5 + Unit Apartments |
MLS # |
S1692040 |
| Stories |
2 |
Year Built |
1950 (76 years old) |
| Apartments |
5 |
Est. Taxes |
$3,356 |
Features
Exterior |
Fully Fenced Yard
Wood Siding
Heating Fuel - Electric
Gas
Driveway - Blacktop
Parking Area
|
Other Information |
0.6494 Acres
Near Public Transportation
Lot Dimensions - 123' x 230'
Jefferson County
Watertown School District
Days On Market - 22
|
