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.

Interior

  • BasementFull
  • HeatingElectric, Oil

Exterior

  • GeneralAluminum, Brick
  • Parking2 Parking Lots

Construction

  • RoofingAsphalt, Shingle
  • WindowsOther
  • GeneralBlock, Frame, Block

Location

  • Originating MLSColumbia Greene Northern Dutchess MLS
  • School DistrictHudson
  • CountyColumbia

Lot

  • Zoning121.3-2-52

Utilities

  • UtilitiesNone
  • WaterWell
  • SewerSeptic Tank

Financial

  • SourceColumbia Greene Northern Dutchess MLS
  • Buyers Agent Compensation2

Listing History

  • 06/19/2024Backup
  • 06/03/2024Active
  • 06/03/2024$1,850,000 @ $116 per ft²

Property Features

  • 121.3-2-52
  • 2
  • 2 Parking Lots
  • Aluminum
  • Asphalt
  • Block
  • Brick
  • Columbia
  • Columbia Greene Northern Dutchess MLS
  • Electric
  • Frame
  • Full
  • Hudson
  • Oil
  • Septic Tank
  • Shingle
  • Well

Residential Info

Property Details

Address: 167 State Route 23, Claverack, New York 12513