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.
Property Details
- Basement: Exterior Entry, Full, Heated, Interior Entry, Unfinished, Walk-Out Access
- Bathrooms: 16
- Bedrooms: 19
- Cooling: Window Unit(s)
- County: Schenectady
- Estimated Taxes: $17,514
- Exterior: Brick
- Exterior Features: None
- Heat: Baseboard, Electric, Forced Air, Zoned, Natural Gas
- Interior Features: Walk-In Closet(s), Built-in Features, Ceramic Tile Bath
- Parking Spaces: 18
- Property Style: Low Rise, Apartment 4 Plus Unit
- School District: Schenectady
- Sewer: Public Sewer
- Square Feet: 10,809
- Town: Schenectady
- Water: Public
- Year Built: 1984
- Zoning: Multi Residence
