181 W Bridge St
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181 W Bridge St
8 Unit Block of Flats £573,073 (£71,634/Unit) 13.99% Net Initial Yield Oswego, NY 13126
Investment Highlights
- LOCATION Centrally located in the heart of Downtown Oswego.
- Easy to rent to college students or any major employer around Oswego because of location.
- Nice size lot with two car garage and parking area in front of garage.
Executive Summary
Looking to sell the last 3 properties in our Portfolio in Oswego NY. This city sits on the Southeast Shores of Lake Ontario. 13 Largest lake in the world and 24 miles from the new Micron 100 billion dollar investment plant for Micron Chips. Largest investment since the Eisenhower interstate roads in the US. All three of these properties are Multi Families. We have 2 Two Unit with 4 bedrooms up stairs and 5 bedrooms downstairs in each property. The other Multi Unit is a Four Unit, 3 one bedrooms with a full kitchen and bath room and a two bedroom with a full kitchen and bathroom as well. I have them set up to make close the same income and very similar expenses for all three. The 2 two units are full rented with Oswego State College students and have been fully rented since I have owned them for 10 years. The 4 unit is fully rented and also have been fully rented since I owned that for 8 years. These properties also have plenty of off street parking with parking lots at each location. The 4 unit is around 2900 sqft and the other 2 are well over 3000 sqft. These were our best rentals and we held on to them because they were great money makers. We are getting older and would like to travel more and looking to free up our time and responsibilities running a renal business takes. If you are a serious buyer in the rental business we have price these to sell and for you to continue to make good income with these properties. The cap rate is based on NOI before Mortgage and Management fee. Management fee is 10% or $15000. Which makes CAP RATE 12.7% after Management fee taken out. Yes this is a great income generating properties. Call me for more information. We are serious sellers but this is not a fire sale. So if this meets your Cap Rate and you want to view we also need to have some type of proof of funds before view. We will share proof of all our expenses and leases with a letter of intent to purchase or purchase offer. We expected it will be contingent on proof of income and expenses matching numbers I have provided on this site.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £573,073 | Apartment Style | Single Family Home |
| Price Per Unit | £71,634 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Net Initial Yield | 13.99% | Building Size | 9,300 SF |
| Sale Conditions | Portfolio Sale | Average Occupancy | 100% |
| No. Units | 8 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.32/1,000 SF |
| Price | £573,073 |
| Price Per Unit | £71,634 |
| Sale Type | Investment |
| Net Initial Yield | 13.99% |
| Sale Conditions | Portfolio Sale |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 9,300 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1900 |
| Parking Ratio | 0.32/1,000 SF |
Unit Amenities
- Cable Ready
- Bay Window
- Kitchen
- Attic
- Built-In Bookshelves
- Deck
- Family Room
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 8+3.5 | 2 | £3,687 | 3,200 |
| 8+3 | 2 | £3,687 | 3,085 |
| 2+1 | 1 | £1,118 | 700 |
| 1+1 | 1 | £1,038 | 650 |
| 1+1 | 1 | £797.49 | 450 |
| 1+1 | 1 | £797.49 | 450 |
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Walk Score ®
Very Walkable (87)
zoning
| Zoning Code | Commercial (38 west fourth is in a R-3 district with Multi Family Status. The other two multi units are on Bridge Street which is Zoned Commercial Properties) |
| Commercial (38 west fourth is in a R-3 district with Multi Family Status. The other two multi units are on Bridge Street which is Zoned Commercial Properties) |
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181 W Bridge St
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