About 508 W Brighton Avenue
Welcome to Brighton Place Townhouses — an exceptional investment opportunity to acquire a fully occupied apartment complex featuring 38 identical 2-bedroom, 1-bath townhome-style units. Each unit includes both front and rear entrances, a spacious living room with hardwood floors, and a full kitchen on the main level. Upstairs, you’ll find two bedrooms and a full bathroom. Every unit also includes a private basement along with individual furnaces, water heaters, and separate gas and electric meters. Tenants are responsible for their own utilities, with the exception of water and sewer. The property offers ample parking for all residents, plus 14 garage bays. The complex benefits from stable occupancy, and over two-thirds of the rental income is guaranteed through subsidies. Significant upside exists in raising rents, and a fresh Certificate of Compliance has just been issued. Offered at $2.85M, this investment delivers a strong 10% cap rate.
Features of 508 W Brighton Avenue
| MLS® # | S1608313 |
|---|---|
| Price | $2,850,000 |
| Bedrooms | 38 |
| Bathrooms | 0.00 |
| Square Footage | 11,088 |
| Square Footage | 107913 |
| Acres | 2.48 |
| Year Built | 1945 |
| Type | Multi Family |
| Sub-Type | Other |
| Status | Active |
Community Information
| Address | 508 W Brighton Avenue |
|---|---|
| Area | Syracuse City |
| Subdivision | Brighton |
| City | Syracuse |
| County | Onondaga |
| State | NY |
| Zip Code | 13205 |
Amenities
| Utilities | Sewer Connected, Water Connected, Common Area Maintenance, Snow Removal, Water |
|---|---|
| Features | Rectangular, Rectangular Lot, Residential Lot |
| Parking | Three or more Spaces |
| Garages | Three or more Spaces |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Hardwood, Varies |
|---|---|
| Appliances | Gas Water Heater, Refrigerator, Gas Cooktop |
| Heating | Gas, Forced Air |
| Fireplace | No |
| # of Stories | 2 |
| Stories | 2 |
| Has Basement | Yes |
| Basement | Full |
Exterior
| Exterior | Wood Siding |
|---|---|
| Exterior Features | Gravel Driveway |
| Lot Description | Rectangular, Rectangular Lot, Residential Lot |
| Roof | Asphalt |
| Construction | Wood Siding |
School Information
| District | Syracuse |
|---|
Additional Information
| Short Sale | No |
|---|---|
| RE / Bank Owned | No |
Listing Details
| Office | Acropolis Realty Group LLC |
|---|