1011 Union Street
Property Description
Prime 16-Unit Brick Investment Near Union College. Solid all-brick 16-unit multifamily generating $17,780/month in gross rents with a gross annual scheduled rent roll of $213,360. The property features a full sprinkler system on all four levels in all common areas, plus a new rubber roof installed in 2022, providing major capital-expense peace of mind. Ideally located within walking distance to Union College, downtown Schenectady, and public transportation, with a bus stop directly across the street, this asset sits squarely in the path of the city's ongoing revitalization. Most apartments feature hardwood floors, tiled bathrooms and the building is currently in good overall condition. At the asking price, the projected returns place the cap rate in the high-10% range, making this a compelling income play for both seasoned and first-time multifamily investors. Year built is approximate (CRS reflects 1984; believed inaccurate). Expense figures are estimated. Additional financial details available upon request. Invest in Schenectady's resurgence; this is a cash-flowing opportunity you don't want to miss.Broker Details
Carr Real Estate Group (518) 488-2434
MLS ID: 20206 State License Number: 10491207486
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,590,000 |
| No. of Units: | 16 |
| Year Built: | 1984 |
| Lot Size: | 10,809.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $99,375 |
| Property Website | Click Here |
| Number of Bedrooms: | 19 |
| Number of Bathrooms: | 16 |
ID: 3yd-CRMLSNY-202611444
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