710 E Laurel St, Syracuse, NY, 13203

With nearly $25,000/year gross income and no rent collection hassles, this is the stabilized, high-cashflow property you’ve been looking for. No matter what metric you use: cash on cash, cap rate, monthly cashflow, this property is a winning turnkey investment. The 1st floor is leased for $1,049/mo and the 2nd floor is leased for $1,000/mo to a long-term tenant. Gas and electricity are separately metered and are the tenants’ responsibility. Both units are rented to vetted sec. 8 tenants, rent is direct deposited on the 3rd of every month with the tenant share paid separately and promptly. With a historic shortage of apartment housing in Syracuse, these units are in high demand. Tenants love the spacious 2 bedroom, 1100+ sf apartments and the convenient Northside location close to bus lines, downtown, Little Italy, and St. Joe’s Hospital. This has been a profitable investment for the current owner for many years, but the owner is now retiring, offering a great opportunity to add a high cashflow/low risk property to your portfolio. Can be combined with 136 Lakeview Ave for over $56,000 annual rent, or further combined with 325 Liberty St for over $128,000 in income per​​‌​​​​‌​​‌‌​‌‌​​‌​​​​‌‌​‌​​​​‌​ year!