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167 State Route 23
Claverack, New York
$1,850,000 Price
30 Bedrooms  
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Photo 1 of 167 State Route 23, Claverack, New York, $1,850,000, Web #: 152736Previous PhotoNext Photo1 of 23

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 buildings,...

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 buildings, 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.

Listing courtesy of Beach Bartolo Realtors

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

Claverack, New York
Type:
Price: $1,850,000
Web ID: 152736

Info & Amenities

Size: 2.13 acres
Bedrooms: 30
Bathrooms: 16.0
Built: 1971

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