420 Overton StEndicott, NY 13760

Property Details for 420 Overton St

Year built

2012

Lot size

34.96 AC

Property type

Retirement homes

Property subtype

Residential income homes

Description

This exceptional investment opportunity presents a 54-unit senior living portfolio in Endicott, New York, boasting a 5.16% cap rate and a remarkable 100% occupancy rate with a waiting list. The property, known as Skye View Heights, comprises beautifully maintained units featuring renovated interiors, modern kitchens and baths, in-unit laundry, private garages, fireplaces, and patios. Each spacious unit offers comfortable living for the 55+ demographic. The property sits on a substantial 34.96-acre lot, and importantly, includes an additional 21 acres already approved for the construction of 160 more units, representing significant future development potential. The current NOI stands at $774,461, reflecting the strong performance and stable clientele. The convenient location near shopping, restaurants, and medical facilities further enhances its appeal. Built in 2012, this Core+ investment is priced at $15,000,000 and offers a compelling return on investment with its current high occupancy and substantial expansion possibilities. This is a rare opportunity to acquire a thriving senior living community with significant upside potential in a desirable location. The property's strong performance, coupled with the approved expansion plans, makes this a truly exceptional investment.

Location Insight

City

Endicott

County

Broome

State

New York

Latitude

42.1039

Longitude

-76.0592

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