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Michelle Thompson

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$ 1,500,000

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114 Freeman AVE Syracuse, NY 13209

10 Beds

10,928 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 10,928 sqft

Price per Sqft $137

Subdivision Village Of Solvay

MLS Listing ID S1680169

Bedrooms 10

Construction Status Existing

HOA Y/N No

Year Built 1910

Annual Tax Amount $18,153

Lot Size 4,800 Sqft

Acres 0.1102

Lot Dimensions 40X120

Property Sub-Type Other

Property Description

Available on the market for the first time in 40 years, this rare 10-unit portfolio in the heart of the Village of Solvay offers a unique blend of stability and upside for investors. Data in this description pertains to both 114 and 112 Freeman Avenue combined. Consisting of three structures: a 7-unit apartment building, a 2-family multi, and a single-family colonial—all contiguous and sharing off-street parking. Each of the 10 units has separate utilities and a varied mix of sizes (1 one-bedroom, six two-bedroom, two three-bedroom, and one four-bedroom stand-alone home), giving you multiple leasing and marketing strategies. Current rents are below market value, translating into a potential 13% pro forma cap rate—an exceptional value-add play. Located in a tight-knit, lakeside community just minutes from downtown Syracuse, Solvay boasts scenic outdoor amenities, small-town conveniences and attractions, and the benefit of locally controlled, low-cost utilities via municipality-owned Solvay Electric. With strong fundamentals, thoughtful upkeep, and long-term appreciation potential, this property presents a rare opportunity to acquire a performing asset with plenty of room to grow. The hands-on owner of this well-maintained package has 55 years of experience owning and managing over 100 units. He has decided to move on to new projects, presenting an excellent opportunity for the new owner.

Location

State NY

County Onondaga

Community Village Of Solvay

Area Solvay-Village-313201

Direction From Village of Solvay - Milton Ave. to Freemena Ave

Rooms

Basement Full, Partially Finished

Interior

Interior Features Ceiling Fan(s), Cathedral Ceiling(s), Storage

Heating Zoned, Baseboard, Electric

Cooling Zoned

Flooring Carpet, Hardwood, Varies, Vinyl

Fireplace No

Window Features Thermal Windows

Appliance Dishwasher, Electric Oven, Electric Range, Electric Water Heater, Refrigerator

Laundry Common Area, Coin-operated

Exterior

Exterior Feature Blacktop Driveway

Community Features Laundry Facilities, Other, Storage Facilities, See Remarks

Utilities Available Cable Available, Electricity Connected, High Speed Internet Available, Sewer Connected, Water Connected

Roof Type Asphalt

Garage No

Building

Lot Description Near Public Transit, Rectangular, Rectangular Lot, Residential Lot

Story 2

Sewer Connected

Water Connected, Public

Level or Stories Two

Structure Type Brick,Frame,Other,Vinyl Siding,Copper Plumbing

Construction Status Existing

Schools

Elementary Schools Solvay Elementary

Middle Schools Solvay Middle

High Schools Solvay High

School District Solvay

Others

Senior Community No

Tax ID 313201-010-000-0006-008-000-0000

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/instaview/syr/S1680169

Listed by Hunt Real Estate Era

NEARBY SCHOOLS & PROPERTIES

Michelle Thompson

Lic. RE Salesperson | License ID: 40FA1156159

+1(315) 794-3260

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Michelle Thompson

114 Freeman AVE Syracuse, NY 13209

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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114 Freeman AVE