6749 Ramsgate Road, Sullivan, NY 13037

Property Description

Excellent investment opportunity in the heart of Chittenango! This well-maintained 4-unit property offers strong income potential and positive cash flow, plus the rare bonus of an additional storefront providing extra revenue. Conveniently located near shopping, dining, and everyday amenities, and just minutes from the Yellow Brick Road Casino, bringing steady traffic and long-term demand to the area. Ideal for investors looking to expand their portfolio with a mixed-use asset in a growing market. Turn-key opportunity with upside — don’t miss it! Current rents include 2 occupied units ($970 - 2 bedroom & $1100 - barn/ retail space).. and the other three units are vacant, with potential market rents once filled that could be ($850+ & $850+ for each studio unit, and $950+ for the 1 bedroom) resulting in $4,720 total monthly or a $56,640 yearly rental revenue. After estimated expenses that include taxes, insurance, vacancy rate and maintenance of a conservative $10,000, the capitalization rate (and under valued market leases) would be a healthy 15+%!!! Extra large garage space for tenant storage, mowers or plow truck. Upgrades include a newly pumped septic tank (2 separate tanks for each building) all hot water tanks are less than 5 years old, 2 bedroom unit has brand new furnace. New carpet and paint in all units. Reach out today for more information! This property is cross listed under Commercial MLS#1658423