Countryside Apartments in Rome sold for $695,000

ROME — The Countryside Apartments complex at 7108 Rome-Oriskany Road in the city of Rome was recently sold.

James Talmadge Properties, LLC sold the 24-unit, 10,056-square-foot complex to Datas Real Assets, LLC for $695,000. Richard L. Will, president of Hemisphere Holdings Corp. in Syracuse, was the broker on this transaction.

The facility, built in 1953 and located on nearly 2.2 acres, was previously a motel, Will says. 

In 2018, the apartment complex was more than 91 percent occupied and generated more than $150,000 in gross income and $72,000 in net operating income, according to data Will provided CNYBJ. Its capitalization (cap) rate was 10.39 percent.

ROME — The Countryside Apartments complex at 7108 Rome-Oriskany Road in the city of Rome was recently sold.

James Talmadge Properties, LLC sold the 24-unit, 10,056-square-foot complex to Datas Real Assets, LLC for $695,000. Richard L. Will, president of Hemisphere Holdings Corp. in Syracuse, was the broker on this transaction.

The facility, built in 1953 and located on nearly 2.2 acres, was previously a motel, Will says. 

In 2018, the apartment complex was more than 91 percent occupied and generated more than $150,000 in gross income and $72,000 in net operating income, according to data Will provided CNYBJ. Its capitalization (cap) rate was 10.39 percent.