34-36 Cliff Street, Oneonta, NY 13820

Property Description

Charming 4 unit investment property located 3 blocks to downtown! Classic front porch lines offer nice curb appeal. Plenty of off-street parking. Tenants pay all utilities. Solid cash flow flow opportunity. Double digit Return on Investment! Super opportunity. May be purchased with 4 family next door- 38-40 Cliff Street, a 10 bedroom fully occupied building. See MLS #R1687928. 34-36 Cliff St: Total rents: $37,200 annually. Expenses: Taxes $4,596, Water/Sewer $700, Insurance $1,700, Trash $1,200, snow $375, Maintenance and Vacancy at 5% of gross $2,600. Total expenses $11,171. NOI $26,029. Mortgage cost $18,600 ($259,900, 20% down. 20 year amort, 6.25%), Net Income $7,429 / $51,980 (down payment) = 14.2% Return on Investment with below market rents. One year leases in place. Come take a look at this home offering generous square footage for each unit!