17 Maple St
Tenant responsible for all interior and exterior maintenance, all taxes, all upgrades, all code compliance, all utilities, all insurance and all tenant liability.
Long-term rental arrangement with a national Sorority organization.
Excellent location in the growing and thriving college town of Oneonta which functions as the main hub for shopping, education, and healthcare for most Otsego and Delaware County residents. The property is near Hartwick College and the State University of NY - Oneonta and a short walk to the bus stop, Main Street, and downtown local attractions. With easy access to I- 88, a 60 minute drive East or West will take you to Albany or Binghamton.
The property has a city permit for up to 21 residents. It has 9 bedrooms and 5 bathrooms. It is outfitted with a commercial sprinkler system, commercial appliances, and fire escapes from the 2nd and 3rd floors.
This property is sure to appreciate in value. The construction is sound. The income is as passive as rental property can be. Guaranteed minimum cap rate of 5.76%+ (the cap rate will increase with the annual rent increases). The property is well positioned to appreciate over time based on economic/education trends in the region and accelerated by post-COVID-19 population trends as folks move into the area from more urban regions of NYS.
Listing Courtesy of Keller Williams Upstate NY Properties
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