215 Fayette StSyracuse, NY 13202

This exceptional mixed-use property, located at 215 W Fayette St in Syracuse, NY, presents a compelling value-add investment opportunity. The five-story building, constructed in 1920 and fully renovated in 2017/2018, boasts a prime Armory Square location with frontage on both West Fayette and Walton Streets. The property comprises 14 residential units and one ground-floor retail/commercial space. The residential units consist of ten one-bedroom, one-bathroom apartments and four two-bedroom, two-bathroom apartments. One of the two-bedroom units is a penthouse apartment with private rooftop deck and direct elevator access. All residential units feature in-unit washer/dryers, updated kitchens with stainless steel appliances and granite countertops. The building benefits from updated mechanical systems. Currently operating at 75% occupancy, there's significant upside potential due to some units renting below market rates and a few vacancies. The asking price is $3,275,000, representing a 5.50% capitalization rate. Financial details are available under a confidentiality agreement. This property offers a rare blend of strong location, updated amenities, and significant income growth potential. The building's mixed-use nature provides diversification and enhanced investment returns. This is an ideal opportunity for investors seeking a value-add project in a vibrant urban setting.