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For Sale

$499,900

31 Burnside Avenue
Oneonta, NY 13820

Bed 12 br
Bathroom 8 ba
Sqft 6,904 sqft
TWO ADJACENT QUADPLEX Buildings are now available as a package deal, creating a rare EIGHT UNIT INVESTMENT OPPORTUNITY in the strong rental market in the City of Oneonta. These two homes share a maintenance shed, backyard space, and off street parking.The location is perfect, just off of River Street and a short walk to Main Street, local schools, and fixtures like the Boys and Girls Club of Oneonta. It is quiet, with parking available along the street in addition to the off street parking lot. The building has been well-maintained with several new furnaces and all new water heaters installed for every unit. The roofing has been recently updated as well. Tenants are all reliable and up to date on rent payments. With current rental prices substantially below the area average, income growth is expected. Tenants pay for utilities except garbage, city water and septic. NOI is $50,000+ even at these very reasonable rental rates. Expected NOI after adjusting to market rents in the next few years is $60,000+. The current cap rate is 10%+. This location is a growth market for your money, pulling shoppers from four counties. Next closest shopping hub is Binghamton to the west and Albany to the east. Baseball tourism is booming, pulling families from all over the country to the baseball Mecca of the world, Cooperstown, and Oneonta which has growing baseball camps and tourism. There are two colleges, SUNY Oneonta and Hartwick. Basset Medical Center is nearby with its network of healthcare providers. Many corporations are also close including headquarters or main hubs for Chobani, Corning, Amphenol, Astrocom, Ioxis, Spectrum, NYSEG and more.This property is only available as a package sale. Please do not inquire about buying only one of the buildings. They will not be split up. Please reach out for additional information or to submit an offer. Read More

Market Status
Sale Pending
Last Updated
August 11, 2022

Property Type
Multi Family
Bedrooms
12 BR
Baths
8 full BA
Basement
-
Cable/Satellite TV
Cable Ready
Roof
Asphalt
Garage
-
Porch/Deck
-
Property Type
MultiFamily; Other
Additional Areas
Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Full Bath; Full Bath; Full Bath; Full Bath; Full Bath; Full Bath; Full Bath; Full Bath

Local Market Conditions

There are currently 53 properties for sale in the Oneonta, NY area with the average listing price of $275,987. This represents an increase of +0.4% over the previous week. The 3 bedroom homes saw the largest increase in the average listing price over the previous week with a +4.6% increase. To learn more about the Oneonta, NY area, contact a local expert!

Market Snapshot for Oneonta, NY

Avg. Listing Price

$275,987

Wk ending Aug 6

$+1,141

+0.4%

w-o-w

53

100

100

40

5

5

Average Listing Price for Oneonta, NY
No. BedroomsNo. Beds Week Ending
(Aug 6)
w-o-w Week Ending
(Jul 30)
Week Ending
(Jul 23)
Week Ending
(Jul 9)
All PropertiesAll $275,987 +0.4% $274,846 $282,386 $284,053
1 bedroom1 BR $425,000 +0.0% $425,000 $425,000 $425,000
2 bedrooms2 BR $180,289 +3.5% $174,250 $172,244 $172,244
3 bedrooms3 BR $168,108 +4.6% $160,678 $168,814 $171,954
4 bedrooms4 BR $280,325 -4.8% $294,357 $307,500 $311,495

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Listing Provided By:

Benjamin Holscher

Keller Williams Upstate NY Properties

Phone
This $499,900 Multi Family at 31 Burnside Avenue in Oneonta, NY is presented by Benjamin Holscher. This $499,900 Multi Family, located in the 13820 zip code, has the following property features: Basement, Porch/Deck, Cable/Satellite TV, Property Type. This 31 Burnside Avenue Multi Family is listed under MLS listing number 133349, has 12 beds, 8 baths, and has a listing price of $499,900. You can find more Oneonta homes for sale here.

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