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Cortland Park Apartments 44 Rickard St

146 Unit Apartment Building $17,364,007 CAD ($118,932 CAD/Unit) 5.82% Cap Rate Cortland, NY 13045

Apartment Buildings New York Cortland 44 Rickard St, Cortland, NY 13045

Investment Highlights

  • Location does have a pool and pinic area.
  • Walk to bike trails and supermarket.
  • Grounds are a highlight themselves.
  • Waiting list of tenants waiting for occupancy as soon as apartments are prepped.

Executive Summary

BE A HERO, BRING YOUR PARTNERS THIS 5.04% CAP PROPERTY THAT WILL TURN INTO A 8.61% CAP WITH AN ADDITIONAL $100,000 OF DEVELOPMENT MONEY IN ONE YEAR. That is a $480,000 cash flow bump!

Property Facts

Price $17,364,007 CAD Apartment Style Garden
Price Per Unit $118,932 CAD Building Class B
Sale Type Investment Lot Size 4.70 AC
Cap Rate 5.82% Building Size 172,041 SF
No. Units 146 No. Stories 3
Property Type Multifamily Year Built/Renovated 1972/2021
Property Subtype Apartment Parking Ratio 1.74/1,000 SF
Price $17,364,007 CAD
Price Per Unit $118,932 CAD
Sale Type Investment
Cap Rate 5.82%
No. Units 146
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 4.70 AC
Building Size 172,041 SF
No. Stories 3
Year Built/Renovated 1972/2021
Parking Ratio 1.74/1,000 SF

Unit Amenities

  • Balcony
  • Cable Ready
  • Dishwasher
  • Heating
  • Eat-in Kitchen
  • Refrigerator
  • Carpet
  • Yard

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Pool
  • Property Manager on Site
  • Spa
  • Tennis Court
  • Basketball Court
  • Bicycle Storage
  • Maintenance on site

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 44 - 590 - 800
3+1 35 - 950 - 1,025
2+1 67 - -
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zoning

Zoning Code 03
03
(914) 941-7564

Contact

  • Listing ID: 26801313

  • Date on Market: 2022-10-07

  • Last Updated:

  • Address: 44 Rickard St, Cortland, NY 13045

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Cortland Park Apartments | 44 Rickard St
(914) 941-7564 x

Cortland Park Apartments | 44 Rickard St

Eric Schatz

(914) 941-7564

(914) 941-7564

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