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Property Description
· The Property: Detached property on consisting of three apartments, 1 x 3, 1 X 2 & 1 x 1 bed
· The Location: The property is situated in the favored north-side of the city less than a mile from the carousel center, Destiny USA project and downtown Syracuse.
· Condition: The property is a new listing and has yet to be inspected by the property management company but we have been told by the listing agent that it has had many upgrades carried out by the current owner, internally the apartments are very attractive with hardwood floors throughout.
· Occupancy rate: High, due to the location and type of property there will always be a demand for this property and it would be easy to find replacement tenants if needed.
· Tenanted: Yes with long-term tenants.
· Management of this property: A full management service will be provided with this property.
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Stop Press: 2011 CNN Story... Syracuse is 3rd in affordable housing.
CNN Money says this about Syracuse; This old city grew prosperous on the Erie Canal trade. It became an industrial town where many different products from traffic signals to chemicals were made. Today, most of its biggest employers are in the educational and service fields. The metro area has grown very slowly during its post-industrial age, leaving a large inventory of housing that sells off slowly. Meanwhile, Syracuse-area workers are quite well paid, with a median wage of close to $65,000. Unemployment, at 8.3%, is below the national average. High income and depressed home prices result in excellent housing affordability scores.
Why buy in Syracuse?
Despite global property market slumps, stock market crashes and government bailing out of banks, Syracuse property prices are holding firm. Seeing a slight increase last year, Syracuse is listed in 2011 by CNN Money as the third most affordable place to live and work in the USA. This vibrant city, which remains the fifth most highly populated in New York State, is situated about 250 miles (downtown Syracuse to downtown New York) to the North-West of New York City. Assets include the city’s own Airport, Hancock International, and the large and well-respected Syracuse University which boasts a three-hundred acre campus. This impressive university is the city’s biggest employer, housing teaching hospitals which specialize in fields such as Bio-Technology and Pharmaceuticals. These industries have been attracted to the city since the 1980’s, which has resulted in a much lower unemployment / higher employment rate than the national average. With about 65% of inhabitants choosing to rent in Syracuse, there is a very high demand for rental properties and, along with the city’s additional assets; Syracuse has proven itself an excellent area to invest in.
The Service we provide
American Dream Investments (ADI) specialize in sourcing high yield income properties in the area of Syracuse, Onondaga County, NY State, USA, for investors who are seeking a truly bespoke service tailor made to their individual requirements.
The company takes pride in offering properties that produce an annual income of approximately up to 20% net, after fixed running costs have been deducted. The properties are situated in good locations with high rental demand and are offered at the lowest possible negotiated price.
Thank you for showing an interest in our investment property and we very much look forward to you contacting us in the future.
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