Syracuse Multi-Family
1000 Bellevue Avenue is a well-maintained, four-story Class C multifamily building, originally constructed in 1940 and positioned in Syracuse’s established Strathmore / Elmwood residential corridor. The property consists of 18 units in total: (7) three bedroom / one-bath apartments and (11) two-bedroom / one-bath apartments, offering a unit mix that appeals to families, working professionals, and students.
Located just minutes from Onondaga Park, Syracuse University, Upstate Medical University, St. Joseph’s Health, and the amenities of downtown Syracuse, the property sits in a high demand rental pocket of the city. With a strong tenant base and stable regional employment, this asset provides durable cash flow with multiple value-add levers.
•18 Total Units
•(7) 3 Bed / 1 Bath
•(11) 2 Bed / 1 Bath
•21,280 Sq. Ft. Building
•Four Levels + Basement
•Concrete Foundation & Brick Exterior
•Forced-Air H...
•Forced-Air Heat; Window A/C Units
•Laundry On-Site
•Owner Pays: Water, Hot Water, Garbage
•Tenants Pay: Gas & Electric (direct)
•0.17-Acre Parcel
•Street Parking
•City Water & City Sewer (Flat Rate)
•Currently self-managed
•Maintenance man on staff.
•The basement offers space suitable for conversion into tenant storage units, providing an immediate avenue for ancillary income.
•Two wireless carriers currently maintain equipment on the roof (and maintain their roof sections per contract). Approximately 25% of the roof remains available for a potential third tower, representing a rare opportunity for long-term, passive income growth.
Market Rent Upside:
According to BestPlaces.net, average rents in Syracuse are:
•1BR — $880
•2BR — $1,080
•3BR — $1,340
•4BR — $1,550
These averages support meaningful rent-growth potential given the size and features of the existing units.
1000 Bellevue Avenue is positioned in the well-established Strathmore / Elmwood neighborhood, known for its historic homes, mature trees, and proximity to Syracuse’s premier amenities. Residents enjoy walkable access to Onondaga Park, Upper Onondaga Lake, and nearby dining and services along South Avenue and Geddes Street.
The property provides quick access to major employers including:
•Upstate University Hospital
•Syracuse University
•St. Joseph’s Health
•Crouse Health
•Downtown business district
•Destiny USA retail and entertainment complex
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