63-65 South StAuburn, NY 13021

Property Details for 63-65 South St

Lot size

2.00 AC

Property size (Sq ft)

52,133 SF

Property type

Land

Property subtype

Apartment buildings

Description

This exceptional investment opportunity presents the chance to acquire the renowned Kings and Queens Court, a meticulously maintained 60-unit apartment building situated on a 2-acre lot in the charming city of Auburn, New York. The property, encompassing 52,133 square feet, consists of two historically significant buildings, each housing a portion of the rental units. All units have undergone careful restoration, enhancing their appeal to tenants. A significant advantage is that a portion of the utilities are paid directly by tenants, contributing to a robust and stable income stream. Further enhancing revenue potential are the on-site coin-operated laundry facilities and ample parking, including garage storage units available for lease. The property's prime location offers convenient access to downtown Auburn, the picturesque Owasco Lake, and several major employers, ensuring high occupancy rates and consistent demand. Currently operating at full occupancy, this multifamily property boasts a strong rental history, providing a solid foundation for continued financial success. This is an ideal acquisition for investors seeking a blend of historical charm, consistent cash flow, and a stable rental market in a desirable location. The asking price for this remarkable property is $4,500,000.

Location Insight

City

Auburn

County

Cayuga

State

New York

Latitude

42.9273

Longitude

-76.5666

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