167 State Route 23

Claverack, NY 12513

$1,850,000 PRICE
30 Beds
16 Baths
16,000 Sqft
2.13 Acres
1971 Built

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.

Additional Information

ADDITIONAL INFORMATION

BASEMENT DESCRIPTION: Full
DAYS ON MARKET: 52
LIVING AREA SQFT: 16000
ON MARKET DATE: 2024-06-03
SEWER: Septic Tank
TAX AMOUNT: $5,377
TYPE: Residential Income
UNIT COUNT: 16
YEAR BUILT: 1971

INTERIOR/EXTERIOR FEATURES

APPLIANCES INCLUDED: Electric Water Heater
BEDS: 30
CONSTRUCTION MATERIALS: Block, Frame, Aluminum Siding, Brick
FULL BATHS: 16
ROOF: Asphalt, Shingle

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Community

Claverack

Columbia County, New York

The town of Claverack, comprising about 48 square miles, is centrally located in beautiful Columbia County, New York. Its name is a derivative of the Dutch word, “Klaverakker” which means “Clover...

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Julia B. Fee Sotheby's International Realty