855-859 Crane St, Schenectady, NY 12303

$143,000 Sold Price
Sold on 3/04/2018
 
Listing ID 10440260
Property Type Multi-Unit (5+)
County Schenectady
Township Schenectady
Neighborhood Mount Pleasant
Total Tax $9,864
Tax ID 421500-049.047-0003-043.000
FEMA Flood Map fema.gov/portal
Year Built 1950
   
Virtual Tour
This fully occupied 6-unit consists of two 2-bedroom apartments and two 1-bedroom apartments on the second floor, each with 1 bathroom. On the ground floor are 2 retail spaces, each with a half-bathroom. The roof is made of rubber and was renovated 3 years ago, and the forced air heating system and mechanicals are in good condition. The building has normal wear and tear, but no code nor structural issues and no immediate repair needs. Tenants have lived here for years which has led to consistent returns and highlights the strength of the investment - perfect for a solo 401(k) or self-directed IRA. If you're satisfied with a turnkey cap rate of 16.3% and annual cash flows of $26,000, then what are you waiting for? Act now and make this value-added opportunity a part of your portfolio for only 160K.
Property Details
  • 4 Full Baths
  • 2 Half Baths
  • 5880 SF (AG)
  • 4102 SF Lot
  • Built in 1950
  • 2 Stories
  • Full Basement
  • 2940 Lower Level SF
  • Lower Level: Unfinished
  • Renovation: Roof was renovated in 2014
Unit Information
Unit #1 – Gross Area: 950, Net Leasable Area: 944, Rent Price: 650, Bedrooms: 2, Full Baths: 1, Occupied, Unit Count: 857
Unit #2 – Gross Area: 950, Net Leasable Area: 944, Rent Price: 650, Bedrooms: 2, Full Baths: 1, Occupied, Unit Count: 857
Unit #3 – Gross Area: 750, Net Leasable Area: 744, Rent Price: 550, Bedrooms: 1, Full Baths: 1, Occupied, Unit Count: 857
Unit #4 – Gross Area: 750, Net Leasable Area: 740, Rent Price: 500, Bedrooms: 1, Full Baths: 1, Occupied, Unit Count: 857
Unit #5 – Gross Area: 1200, Net Leasable Area: 1200, Rent Price: 700, Half Baths: 1, Occupied, Unit Count: 855
Unit #6 – Gross Area: 1200, Net Leasable Area: 1200, Rent Price: 700, Half Baths: 1, Occupied, Unit Count: 859
Interior Features
  • Carpet Flooring
  • Forced Air
  • 4 Heat/AC Zones
  • Natural Gas Fuel
  • Natural Gas Avail
Exterior Features
  • Masonry - Brick Construction
  • Brick Siding
  • Rubber Roof
  • Municipal Water
  • Municipal Sewer
  • Street View
  • City View
  • Near Bus
Commercial Info
  • 16.00% Cap. Rate
Income/Expenses
  • Gross Income $45,000
  • Net Income $26,090
  • Total Exp $18,910
  • Paid by Landlord: Electric, Water, Cleaning, Ord. Maint., Ground Maint.
Taxes and Fees
  • $4,526 School Tax
  • $1,449 County Tax
  • $2,889 City Tax
  • $9,864 Total Tax
  • Tax Year 2017
Sale Information
  • Sold on 3/04/2018
  • Sold for $143,000
Previously Listed By
Rowen Giles
GOLD ROCK REALTY LLC
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