1918 South Avenue Unit 22, Syracuse, NY 13207

Property Description

Unique opportunity to own a mixed-use building on an extremely busy street corner with billboards! The billboards on the side of the building are leased to Lamar for $2,000 per year. All tenants are month-to-month besides barber shop, they expire April of 2026. Barber Shop (bottom right unit) pays $950 per month. Other commercial unit pays $670/month. Upstairs apartments are both 2 bedrooms and pay $800 & $915 per month each on month to month leases. All units are separately metered for gas & electric and have their own furnace and hot water heater. Roof is roughly 4 years old. Entire parking lot behind the building is included in the purchase. With well below market rates, there is plenty of upside potential in bringing tenants to market rates of $1,000+ per commercial units, $1,100+ per apartment units and renegotiating the billboard lease with Lamar to $3,600+ per year!