Eastwood Arms

Investment Summary

• Exclusively offered by Dante Belmonte of Hunt Real Estate ERA, Eastwood Arms Apartments presents a rare investment opportunity in sought after Eastwood Neighborhood in the City of Syracuse. This 20-unit apartment complex features 15 efficiency units (studio but would express kitchens) and 5 studio units (full kitchen) spread across one building. Currently 90% occupied with minimal tenant turnover, the property benefits from below-market rents, providing significant upside potential. Located in South Eastwood, this property has massive potential.
• Offered at a price well below the per-unit cost of comparable assets in the area, Eastwood Arms allows investors to acquire a stabilized property at an attractive basis. With most capital improvements already completed, new ownership can focus on bringing rents to market rates with minimal additional CapEx, unlocking substantial value and long-term cash flow growth.
• Each of the 5 studio apartments pay their own electric as they are separately metered. There is a sixth electric meter that is used for the all house/common area lights & electric for the efficiency units. Heating is provided by a dedicated high efficiency gas boiler which the landlord pays for. Residents enjoy access to coin-operated laundry machines, offering added convenience and a steady source of ancillary income.

Capital Expenditure Upgrades

• - New Certificate of Compliance Issued March 31, 2026 - High Efficiency Boiler Installed Feb of 2023 - New Architectural Asphalt Roof Installed October of 2020 - New Hot Water Heater installed September of 2025 - Interior Painting Completed Feb of 2025

Value-Add Opportunity

• Surrounding apartment buildings are achieving significantly higher rents, clearly signaling an opportunity for income growth. The business plan is straightforward: with all major capital expenditures already addressed, implement new management and adjust rents to market rates to unlock the property's full income potential. There are also storage units in the basement of the building that can be used as additional income for the property as they are currently not in use.