UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,867 sqft
Price per Sqft $82
Subdivision Watertown-Clayton Pt 2
MLS Listing ID S1672658
Bedrooms 6
Construction Status Existing
HOA Y/N No
Year Built 1940
Annual Tax Amount $1,976
Lot Size 1.500 Acres
Acres 1.5
Lot Dimensions 327X210
Property Sub-Type Commercial
Property Description
Set on a generous 1.50-acre lot, the property features 4,867 square feet of living space with convenient one-story layouts throughout. The unit mix includes five 1-bedroom apartments, two studio units, and one spacious 3-bedroom apartment—providing a well-balanced and versatile rental portfolio.
The remodeled 1-bedroom unit is currently vacant and ready for immediate occupancy, with projected rental income of $800–$900/month. This unit has been thoughtfully updated with new flooring, modern countertops, and brand-new kitchen appliances, making it highly attractive to prospective tenants.
The property currently generates $5,370/month in rental income from existing tenants, delivering solid in-place cash flow with clear upside potential upon leasing the vacant unit. The actual Net Operating Income (NOI) for 2025 exceeded $51,000, highlighting the property's strong financial performance. A stable, long-term tenant base enhances reliability, while the large open parking area provides ample off-street parking for residents and guests.
With strong financials and value-add potential, this property is an excellent addition to any investment portfolio. Whether you're expanding your holdings or entering the multi-family market, this asset offers both performance and growth opportunity.
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Location
State NY
County Jefferson
Community Watertown-Clayton Pt 2
Area Clayton-223289
Rooms
Basement None
Interior
Heating Propane, Other, See Remarks, Wood
Cooling Other, See Remarks
Flooring Laminate, Luxury Vinyl, Varies, Vinyl
Fireplace No
Appliance Gas Oven, Gas Range, Propane Water Heater, Refrigerator
Laundry Common Area
Exterior
Exterior Feature Blacktop Driveway, Patio, Propane Tank - Leased
Community Features Other, See Remarks
Utilities Available Electricity Available, Electricity Connected
Roof Type Metal
Porch Patio
Garage No
Building
Lot Description Rectangular, Rectangular Lot
Story 1
Sewer Septic Tank
Water Well
Level or Stories One
Structure Type Vinyl Siding
Construction Status Existing
Schools
School District Thousand Islands
Others
Senior Community No
Tax ID 223289-052-000-0001-066-000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/instaview/syr/S1672658
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