16 Elm ST, Norwich, NY 13815
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16 Elm ST, Norwich, NY 13815
16 Elm ST, Norwich, NY 13815
16 Elm ST, Norwich, NY 13815
16 Elm ST, Norwich, NY 13815
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Mark Gilbo

Mark Gilbo

+1(315) 804-4847
$ 925,000
Est. payment /mo
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Active

16 Elm ST Norwich, NY 13815

6 Beds

2 Baths

3,200 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Mobile Home

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,200 sqft

Price per Sqft $289

MLS Listing ID R1724460

Bedrooms 6

Full Baths 2

Construction Status Existing

HOA Y/N No

Year Built 1890

Annual Tax Amount $22,450

Lot Size 3,484 Sqft

Acres 0.08

Lot Dimensions 56X64

Property Sub-Type Multi Family

Property Description

Well established investor portfolio with strong occupancy and income history. This offering includes seven residential properties Norwich, NY with a total of 11 units - four 2-unit multi-families and three single family residences. The portfolio has also maintained very low vacancy and generates $147,600 in annual gross rental income, with net income of $84,300 (total expenses including 15% factor for Maintenance/Reserve/Vacancy). At a projected 9.12% capitalization rate it offers substantial current income along with potential to improve performance through property updates and future rent growth, or disposition of single family homes at a higher value than an investor rate may support. Property conditions are generally average, with some deferred maintenance presenting opportunities for an investor to add value. Each property is located within walking distance of local employers and everyday amenities, supporting continued rental demand. For a buyer seeking to expand an existing portfolio or acquire multiple income-producing properties in one transaction, this package merits a closer look.

Location

State NY

County Chenango

Area Norwich-City-081100

Direction Multiple locations, ALL within the City of Norwich

Rooms

Basement Full, Partial

Interior

Heating Electric, Gas, Baseboard, Forced Air, Hot Water

Flooring Carpet, Hardwood, Laminate, Varies

Fireplace No

Appliance Electric Water Heater, Gas Water Heater

Exterior

Utilities Available Sewer Connected, Water Connected

Building

Lot Description Rectangular, Rectangular Lot, Residential Lot

Story 2

Sewer Connected

Water Connected, Public

Level or Stories Two

Structure Type Blown-In Insulation,Other,Vinyl Siding,Wood Siding

Construction Status Existing

Schools

School District Norwich

Others

Senior Community No

Tax ID 081100-136-550-0003-014-000-0000

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard

Listed by Keller Williams Upstate NY Properties 607-226-8880

Nearby Locations

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Mark Gilbo

Mark Gilbo

NY & FL Broker License ID: 10491206207

+1(315) 804-4847

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16 Elm ST