1011 Union Street, Schenectady, NY 12308
1011 Union Street, Schenectady, NY 12308
1011 Union Street, Schenectady, NY 12308
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Listed by Richard Carr • Carr Real Estate Group, LLC
$1,590,000
Est. payment /mo
16 Baths
10,809 SqFt
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Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 10,809 sqft

Price per Sqft $147

MLS Listing ID 202611447

HOA Y/N No

Year Built 1984

Annual Tax Amount $17,349

Lot Size 8,073 Sqft

Acres 0.19

Lot Dimensions 54X149.5

Property Sub-Type Multi Family

Source Global MLS

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 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, 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. There are 16 units with 19 total bedrooms and 51 total rooms. Additional financial details available upon request. See MLS Docs. Invest in Schenectady's resurgence; this is a cash-flowing opportunity you don't want to miss.

Location

State NY

County Schenectady

Zoning Multi Residence

Direction Union St. East to Park Ave, the building is on the corner of Union St. & Park Ave

Interior

Interior Features High Speed Internet, Built-in Features, Ceramic Tile Bath

Heating Baseboard, Electric, Forced Air, Zoned, Natural Gas

Flooring Vinyl, Ceramic Tile, Hardwood

Inclusions Building & Land

Exterior

Parking Features Public Parking, On Street

Roof Type Flat,Rubber

Building

Lot Description Road Frontage, Level, Corner Lot

Sewer Public Sewer

Water Public

Architectural Style Commercial

New Construction No

Schools

School District Schenectady

Others

Tax ID 421500 39.75-1-23

Special Listing Condition Standard

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Nearby School & Business

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Erin Steinbach

Erin Steinbach

+1(518) 222-6031

Lic. Associate R. E. Broker | License ID: 10301217507

Lic. Associate R. E. Broker License ID: 10301217507

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