211 Tompkins ST, Cortland, NY 13045
211 Tompkins ST, Cortland, NY 13045
211 Tompkins ST, Cortland, NY 13045
211 Tompkins ST, Cortland, NY 13045
211 Tompkins ST, Cortland, NY 13045
211 Tompkins ST, Cortland, NY 13045
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Matthew Mastrangelo

Matthew Mastrangelo

+1(856) 506-2722
$ 1,795,000
Est. payment | /mo

36 Beds

12,500 SqFt

Save Virtual Tour
$ 1,795,000
Est. payment | /mo
Save Virtual Tour

36 Beds

12,500 SqFt

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 12,500 sqft

Price per Sqft $143

MLS Listing ID S1702937

Bedrooms 36

Construction Status Existing

HOA Y/N No

Year Built 1994

Annual Tax Amount $27,093

Lot Size 0.660 Acres

Acres 0.66

Lot Dimensions 89X344

Property Sub-Type Other

Property Description

Rare 13-unit apartment investment in Cortland, built 1994 - the newest multifamily property of scale in a market dominated by 1870s-1930s stock. That vintage advantage shows up directly in maintenance cost, financeability and per-unit positioning in a tight-credit tertiary market. Verified contract rent of $180,300 per year against verified operating expenses of $53,551 per year produces $126,749 of net operating income - a 7.06% capitalization rate at the $1,795,000 asking price, or roughly $143.60 per square foot and close to$138,000 per unit. Thirteen units in one building, 12,500 square feet on a 28,750 square foot (0.66-acre) city parcel with 89 feet of frontage, 20 off-street parking spaces and two stories. The property sits in the SUNY Cortland rental belt - roughly 6,600 students - minutes from campus, downtown Cortland and Interstate 81, with additional demand from downtown employers. Pricing is anchored to documented evidence rather than aspiration. Rent roll, profit-and-loss statement and leases available upon request. Do not disturb tenants - showings by appointment through the listing broker.

Location

State NY

County Cortland

Area Cortland-110200

Direction Located on Tompkins Street in the City of Cortland, minutes from the SUNY Cortland campus and downtown Cortland. 211 Tompkins St, Cortland, NY 13045.

Rooms

Basement Partial

Interior

Heating Other, See Remarks

Cooling Other, See Remarks

Flooring Other, See Remarks

Fireplace No

Appliance See Remarks, Water Heater

Exterior

Community Features Other, See Remarks

Utilities Available Electricity Connected, Sewer Connected, Water Connected

Roof Type Other,See Remarks

Garage No

Building

Lot Description Rectangular, Rectangular Lot

Story 2

Sewer Connected

Water Connected, Public

Level or Stories Two

Structure Type Other,See Remarks

Construction Status Existing

Schools

School District Cortland

Others

Senior Community No

Tax ID 110200-096-024-0002-001-000-0000

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/instaview/syr/S1702937

Listed by Real Broker NY LLC
Matthew Mastrangelo

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(856) 506-2722

matt@elysiumx.us

165 Passaic Ave, Ste 205, Fairfield, NJ 07004, USA

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211 Tompkins ST