Joseph N. Rizzo
Watertown, NY
Lic. Real Estate Broker / Owner

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278 State Street
Watertown-City, NY 13601

12,480 sq ft - MLS# S356985
Property Photo


Sold on Jul 26, 2017


Multi Family 5+ 17 unit apt bldg just off Public Square in Watertown. This is a very unique investment property with an excellent rental history & several long-term tenants. Priced to reflect steady 21% ROI. Rent includes all utilities & basic internet. Coin operated laundry & office w/ bathroom on 1st. Consists of 3 separate (adjoining) Brick bldgs with sep boilers, hardwired fire alarm system, & security cameras. Property is very well maintained and has been owned by current sellers since the 1980's. Includes .55 acre parking lot rented to the city who maintains it for public use but it could be developed.


  • Additional Exterior Features: Thermal Windows - Some
  • Additional Interior Features: Circuit Breakers - Some, Other - See Remarks
  • Age: 66
  • Amenities Included: Other - See Remarks
  • City Village Tax: 2601
  • Directionsto Property: State St. Just Off Public Square In Watertown.
  • Driveway Description: Blacktop, Common, Parking Area
  • Exterior Construction: Brick
  • Floor Description: Ceramic-Some, Laminate-Some, Linoleum/Vinyl, Wall To Wall Carpet-Some
  • Garage Spacesper Apt: No Garage Spaces
  • Heating Fuel Description: Gas
  • HVAC Type: Steam
  • Incomeexpense Information: May Show Books
  • Kitchen Equip Appl Included: In All Apartments, Refrigerator
  • List Date: 09/20/16
  • Lot Dimensions Depth: 170
  • Lot Dimensions Frontage: 200
  • Lot Information: Near Bus Line, Primary Road
  • Lot Shape: Rectangular
  • Lot Size: 0.59 Acre
  • Nearest Cross Street: Union
  • Number Of 1 Bedroom Apartment: 10
  • Number Of 2 Bedroom Apartment: 1
  • Number Of Heating Units: 3
  • Number Of Studio Apartments: 6
  • Operating Expenses Include: Electric, Gas/Oil, Insurance, Refuse, Repairs/Maintenance
  • Parking Spacesper Apt: 1 Space
  • Rent Includes: Cable TV, Cooking Gas, Electric, Grounds Maintenance, Heat, Hot Water, Refuse Removal, Snow Removal,
  • Roof Description: Other - See Remarks
  • School District: Watertown
  • School Tax: 3350
  • Sewer Description: Sewer Connected
  • Stories: 3-Story
  • Total Number Of Apartments: 17
  • Total Taxes: 8492
  • Town County Tax: 2541
  • Type: Multi Family 5+
  • Village: Not Applicable
  • Water Heater Fuel: Gas
  • Water Resources: Public Connected
  • Year Built Description: Existing

Joseph N. Rizzo
345 Arsenal Street
Watertown, NY 13601
Office: 315-405-8131
Mobile: 315-783-0755
Fax: 315-405-8261
Contact Me  

We will help you find a home you and your family will be comfortable in. You will find personal assistance on a one to one basis with an experienced, full time realtor. We are available to you seven days a week.


Thanks for all your help in making our "dream home" a reality. We really appreciated that you went the extra mile to get us the best price for our home. You are truly a professional. John and Rhonda Robinson
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