200 Lime Street, Syracuse, NY 13224

Property Description

Holiday Heights Apartments presents a rare investment opportunity in Syracuse, NY. This EXTREMELY well-maintained 30-unit apartment complex features 26 two-bedroom units and 4 one-bedroom units spread across three buildings. Currently 100% occupied with minimal tenant turnover, the property benefits from below-market rents, providing significant upside potential. Located by LeMoyne College, this property has massive potential. Offered at a price well below the per-unit cost of comparable assets in the area, Holiday Heights allows investors to acquire a stabilized property at an attractive basis. With most capital improvements already completed, new ownership can focus on bringing rents to market rates with minimal additional CapEx, unlocking substantial value and long-term cash flow growth. Each building features 10 apartments, with separately metered electric and individual electric panels for every unit in the basement. Heating is provided by a dedicated gas boiler per building, with each apartment equipped with its own zone control for comfort and efficiency. Residents enjoy private storage lockers located in the lower level, along with access to two sets of coin-operated laundry machines (per building, 6 sets total)—offering added convenience and a steady source of ancillary income. All hot water tanks and boilers have been recently replaced or are routinely serviced, ensuring they remain in excellent mechanical and physical condition. Recent capex improvements: Building S & E have new roofs (2023), Building N has a new roof (2016), Entire parking area re-paved and striped (2025), Upgraded boiler zone vales, Several new hot water heaters, All new sliding glass doors in all units but two, Building S boiler replaced (2021), New CCTV security camera system, Various units with new flooring, paint, countertops & appliances on turnover, Numerous other upgrades throughout the property.