149 2nd Ave - Apartments FOR SALE


Troy, NY 12180
$995,000 USD
518-417-1550
149 2nd Ave, Troy, NY for Sale
$995,000 USD
Apartments - FOR SALE
1/22
null | 8.34% Cap Rate

149 2nd Ave
Troy, NY 12180


HIGHLIGHTS

  • Riverfront
  • Updated Units
  • High demand area
  • Easy to manage remotely

OVERVIEW

CASH ONLY - DO NOT CONTACT TENANTS Two beautiful, adjacent multifamily buildings with 166 ft Hudson River frontage. Constructed as an elegant 8500sf single family home around 1880, 143 Second Avenue is now comprised of 2 two-bed units and 4 one-bed units, including a sprawling "penthouse" (former attic). The oversize yard is filled with perennials plus vegetable gardens that are maintained by several of the property's long-term tenants. Because it is sited on a double lot, there may be opportunity for further development. One of 143's key attractions is its communal riverfront deck. The boat hoist stays with the property. Your boat could be easily accessed from the deck by adding back a floating dock. (No longer present on property.) Next door, 149-151 was built as a hotel in 1920. This side-by-side structure is now composed of 6 character-filled one-bedroom/one-bath units of varying sizes. The expansive basement may present an opportunity for an additional unit. Each unit offers a riverfront deck, making the property especially attractive to tenants. Sited on an oversize lot, there may be opportunity for further development. Currently owned/managed remotely. The demand for housing in this area is high. Between the property's location, and the quality of the units, vacancies never last long. Each unit has one bathroom. Each unit has been updated/renovated in the last five years. The penthouse space at 143 is currently used part-time by the owner and part-time as a short term rental for $1,500 per month. It has a large bedroom, an office, a sunroom and loft that could easily offer another bedroom with some reconfiguration. Additional reconfiguration is possible to combine this unit with a 2 bedroom located on the second floor, creating an ideal space for an owner-occupant. Both buildings offer coin-op laundry facilities in the basement. 2025 Rent Roll: $150,000 2024 Net income: $ 83,000

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$83 USD /SF

# OF UNITS

12

PRICE/UNIT

$82,917

CAP RATE

8.34%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hudson River Waterfront Package - CASH ONLY

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1880

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

Residential

APN/PARCEL ID

1700-090.38-1-36

ASK ABOUT THIS PROPERTY

Heather Hallack-BookerBooker Property GroupMore Info
518-417-1550

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Heather Hallack-BookerBooker Property GroupMore Info
518-417-1550

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.