27 Church ST Oneonta, NY 13820
7 Beds
2 Baths
2,354 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Mobile Home
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 2,354 sqft
Price per Sqft $156
MLS Listing ID R1666043
Bedrooms 7
Full Baths 2
Construction Status Existing
HOA Y/N No
Year Built 1900
Annual Tax Amount $7,795
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 70X100
Property Sub-Type Multi Family
Property Description
2-Unit | 7-Bedroom Investment Property with Strong Rental History
Fully leased for the 2025–2026 and 2026–2027 school years, this fully furnished property offers immediate and reliable income. The building features two units: a 2-bedroom / 1 full bath apartment and a LEGAL 5-bedroom / 1 full bath apartment, plus a shared basement laundry room equipped with two washers and two dryers. Apartment 1 has been newly renovated with vinyl plank flooring and fresh paint. Apartment 2 has also been freshly painted and features hardwood floors on the second level and carpeting on the third floor. Conveniently located near downtown, the college campus, and bus routes, the property offers strong tenant appeal. All inspections have been completed, and a Certificate of Compliance is in place through 2029. The seller is a licensed real estate broker. This is an excellent turnkey investment opportunity with proven cash flow.
History:
2024-2025 School Year:
GROSS INCOME: $58,000
NET OPERATING INCOME = $41,221
2025-2026 School Year:
GROSS INCOME: $51,000
NET OPERATING INCOME= $36,111
2026-2027 School Year:
SIGNED GROSS INCOME: $53,000
NET OPERATING INCOME: $38,111
(Group of 4 signed at $4400/semester/student with a 5th that tentatively plans on signing this spring. When the 5th is signed, rent for all 5 is $4000/semester/student)
POTENTIAL GROSS INCOME: $57,800
POTENTIAL NOI: $42,911
TOTAL EXPENSES: $14,889
Land & School Taxes = $7,389
Insurance = $1,500
Heat/Electric = $3,500
Cable/Internet = $1,200
Garbage = $500
Water/Sewer = $800
Cap Rate: 10.37%
(Potential Cap Rate: 11.68% )
Location
State NY
County Otsego
Area Oneonta-City-361200
Direction On the corner of Church and Franklin
Rooms
Basement Walk-Out Access
Interior
Interior Features Attic
Heating Gas, Forced Air
Flooring Hardwood, Varies, Vinyl
Furnishings Furnished
Fireplace No
Appliance Gas Water Heater
Laundry Common Area
Exterior
Garage Spaces 1.0
Utilities Available High Speed Internet Available, Sewer Connected, Water Connected
Roof Type Shingle
Porch Covered, Porch
Garage Yes
Building
Lot Description Irregular Lot, Near Public Transit, Residential Lot
Story 3
Sewer Connected
Water Connected, Public
Structure Type Vinyl Siding
Construction Status Existing
Schools
School District Oneonta
Others
Senior Community No
Tax ID 361200-300-005-0002-016-000-0000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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