5-13 Academy St
12 Unit Apartment Building $2,275,000 ($189,583/Unit) 9.19% Cap Rate Poughkeepsie, NY 12601
INVESTMENT HIGHLIGHTS
- Turn-key investment - Mixed-Use Brick Building
- Condition: 4 units were completely gutted, and the other units were renovated
- There is potential to add a few more units
- Mix use: 8 residential and 4 commercial, a total of 12 units
- Three brand new stores with new long-term leases
- The cap rate is 9% and 12% cash on cash
EXECUTIVE SUMMARY
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
Please email me to get the rent roll and I&E at Yehudafrealty@gmail.com
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 4 | $2,200 | - |
| 2+1 | 4 | $1,900 | - |
1 of 1
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 131300-6162-77-122036-0000 | Improvements Assessment | $150,100 |
| Land Assessment | $42,400 | Total Assessment | $192,500 |
ZONING
| Zoning Code | C-2, Poughkeepsie |
