57-59 Crocker AveJohnson City, NY 13790

Property Details for 57-59 Crocker Ave

Year built

1920

Property size (Sq ft)

6,441 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents three buildings totaling eight units situated on a combined 8,750 square foot lot in Johnson City, New York. The property, located at 57-59 Albert Street and 14 Crocker Avenue (zip code 13790), offers a compelling blend of location, strong rental demand, and recent renovations. The asking price is $554,000, representing a price per unit of $69,250 and a price per square foot of $86. The property boasts a substantial 9.71% cap rate, generating a net operating income (NOI) of $53,792.59. The buildings, constructed in 1920, encompass a total of 6,441 square feet. Four units at 14 Crocker Avenue have undergone complete renovations within the past five years, featuring separate utilities and a shared coin-operated laundry facility. The remaining four units are located in two buildings at 57 and 59 Albert Street, situated on the same tax parcel. This prime location benefits from its proximity to the expanding United Health Services campus and the newly opened SUNY Pharmaceutical School, ensuring consistently high occupancy rates due to strong rental demand fueled by the growth of the healthcare and education sectors in Johnson City. This property is ideally suited for investors seeking a strong return in a rapidly developing market.

Location Insight

City

Johnson City

County

Broome

State

New York

Latitude

42.1149

Longitude

-75.9646

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