West Orvis Apartments

  • Location: 45, 47, 49, and 51 West Orvis, Massena NY
  • Square Footage: 12,580
  • Consists of 1-8 plex, 2-4 plex and 1 duplex, all two bedroom and full bath
  • Units were constructed 1998-1999
  • Construction is wood frame on slab. Excellent physical shape with new shingles in the past 5 years
  • Most recent bank appraisal in 2001 was $615,000
  • Current Income/Expense Summary:
    • Gross Annual Rental Income 2020: $150,000
    • Operating Expenses: $88,000
    • Net Operating Income: $62,000
    • Asking Price: $800,000
    • Est. 2020 Taxes: $29,025
    • Cap Rate .08 or 8%

No land contracts or owner financing. Qualified buyers only.