Exceptional opportunity to acquire School One Lofts, a fully occupied 29-unit multifamily asset featuring approximately $3.1 million of assumable Fannie Mae financing at 5.23% and a long-term PILOT tax agreement through 2037. Originally converted from a historic school, the property offers spacious loft-style residences with oversized windows, original hardwood flooring, granite countertops, stainless steel appliances and in-unit laundry. Residents enjoy on-site parking and ''All-In Living'' package, which combines fiber internet, cable, electricity, heating, air conditioning and hot water into one monthly payment. Proven rental history, attractive in-place cash flow and operational upside through improved management efficiencies make this a strong investment opportunity.
Property Details
- Basement: Finished, Full
- Cooling: Wall Unit(s), Other
- County: Rensselaer
- Estimated Taxes: $16,762
- Exterior: Block, Brick
- Heat: Baseboard, Electric, Heat Pump, Other
- Interior Features: Other, High Speed Internet, Built-in Features
- Parking Spaces: 30
- Property Style: Apartment 4 Plus Unit
- School District: Troy
- Sewer: Public Sewer
- Square Feet: 25,519
- Town: Troy
- Water: Public
- Year Built: 1920