5-13 Academy St - Apartments FOR SALE


Poughkeepsie, NY 12601
$2,300,000 USD
845-499-5533
5-13 Academy St, Poughkeepsie, NY for Sale
$2,300,000 USD
Apartments - FOR SALE
1/9
null | 9.09% Cap Rate

5-13 Academy St
Poughkeepsie, NY 12601


HIGHLIGHTS

  • Turn-key investment - Mixed-Use Brick Building
  • Mix use: 8 residential and 4 commercial, a total of 12 units
  • Condition: 4 units were completely gutted, and the other units were renovated
  • Three brand new stores with new long-term leases
  • There is potential to add a few more units
  • The cap rate is 9% and 12% cash on cash

OVERVIEW

TURN-KEY INVESTMENT of 9% cap rate. Property Overview: Unit Mix: There are 12 units, 8 residential and 4 commercial. Condition: In 2023, 4 units underwent complete gutting, while the other 4 units were renovated during the same year. Unit Sizes: Four are three bedrooms and include a washer/dryer. The other four units are spacious two-bedroom units. There are potential floor plans to convert them into three-bedroom units. The tenants are paying all utilities except the water. There is potential to add a few more units Without extending the building, further increasing its value and income potential. Please email me to get the rent roll and I&E at Yehudafrealty@gmail.com

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$200 USD /SF

# OF UNITS

12

PRICE/UNIT

$191,667

CAP RATE

9.09%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

C-2, Poughkeepsie

APN/PARCEL ID

131300-6162-77-121040-0000

ASK ABOUT THIS PROPERTY

Yehuda FischmaneRealty AdvisorsMore Info
845-499-5533

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Yehuda FischmaneRealty AdvisorsMore Info
845-499-5533

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