167 State Route 23 Claverack, NY 12513

Multi-Family Residence

30 Beds

16 Baths

16,000 Sq. Ft.

2.13 Acre Lot

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Last updated on 9/27/2024 11:48 PM

Listing Details

It's rare to come across such a unique investment opportunity in our area. The current property owner has maintained and cared for this property since 1978, with tenants rarely leaving. Most tenants have resided there for over a decade. The property spans 2.13 acres and comprises four separate build...ings, each housing four rental units, totaling 16 apartments. There are 14 two-bedroom apartments and two one-bedroom apartments. Tenants cover their heat and utilities, except for the rear colonial building where the owner pays for oil heat. While only three apartments in the colonial building have dishwashers, all other apartments are furnished with a stove, refrigerator, dishwasher, water heater, microwave, and air conditioner. Tenants have access to two parking lots, with the owner handling trash removal, snow removal, lawn maintenance, and providing coin-operated laundry facilities. All tenants are on a month-to-month lease, and there's a waiting list for apartments. The current annual gross rental income is $137,000 with expenses at $67,139. Rents are currently below market value, averaging $812.00 per apartment. The complex is fully occupied, with one unit under renovation and another used by the owner when in the area. This is a fantastic opportunity for serious investors to benefit from the owner's hard work. Proof of funds is required before showings. Continue reading

MLS#

152736

Property Type

Multi-Family

Bedrooms

Bathrooms

16 Full

Year Built

1971

Square Feet

16,000 sq. ft

Price per Sq. Ft.