$1,590,000
Schenectady, NY 12308
MLS# 202611444
Status: Pending
19 beds
1 / 22
Property Description
Prime 16-Unit Brick Investment Near Union College. Solid all-brick 16-unit multifamily generating $17,780/month in gross rents with a gross annual scheduled rent roll of $213,360. The property features a full sprinkler system on all four levels in all common areas, plus a new rubber roof installed in 2022, providing major capital-expense peace of mind. Ideally located within walking distance to Union College, downtown Schenectady, and public transportation, with a bus stop directly across the street, this asset sits squarely in the path of the city's ongoing revitalization. Most apartments feature hardwood floors, tiled bathrooms and the building is currently in good overall condition. At the asking price, the projected returns place the cap rate in the high-10% range, making this a compelling income play for both seasoned and first-time multifamily investors. Year built is approximate (CRS reflects 1984; believed inaccurate). Expense figures are estimated. Additional financial details available upon request. Invest in Schenectady's resurgence; this is a cash-flowing opportunity you don't want to miss.
Details
Maps
Documents
Contract Information
Original List Price: 1695000
List Price/SqFt: 147.1
Status: Pending
Property Sub Type: Multi Family
List Price: $1,590,000
Current Price: $1,590,000
Listing Contract Date: 2026-02-03
Location
City/Town (Mail): Schenectady
Cross Street: Park Ave
Street Number: 1011
Street Name: Union
Street Suffix: Street
County: Schenectady
State/Province: NY
Postal Code: 12308
Geo Lat: 42.812937
Geo Lon: -73.92583
Property Detail
Number Of Units Total: 16
Rooms Total: 51
Bathrooms Half: 0
Garage Spaces: 0
Above Grade Finished Area: 10809
Above Grade Finished Area Source: CRS
Parking Y/N: Yes
Below Grade Finished Area: 0
Below Grade Finished Area Source: CRS
Living Area: 10809
Zoning: Multi Residence
Deed Restrictions: No
Lot Size Dimensions: 54X149.5
Lot Size Acres: 0.19
Main Road Frontage: 150
Waterfront Y/N: No
Enhanced Accessible Y/N: No
Survey Y/N: No
Green Features Y/N: No
Land Lease Y/N: No
Bedrooms Total: 19
Bathrooms Full: 16
Year Built: 1984
Status Change Info
Proposed Closing Date: 2026-07-20
Status Change Date: 2026-06-05
Under Contract Date: 2026-06-02
Parcel, Tax, HOA
Parcel Number: 421500 39.75-1-23
Tax Annual Amount: 17514
Tax Section: 39.75
Total Taxes Description: Actual
Tax Block: 1
Tax Lot: 23.000
School District: Schenectady
Elementary School: Howe International Magnet
High School: Schenectady
Association Y/N: No
Directions & Remarks
Directions: Union St, east to Park Ave, Building on the left corner.
Public Remarks: Prime 16-Unit Brick Investment Near Union College. Solid all-brick 16-unit multifamily generating $17,780/month in gross rents with a gross annual scheduled rent roll of $213,360. The property features a full sprinkler system on all four levels in all common areas, plus a new rubber roof installed in 2022, providing major capital-expense peace of mind. Ideally located within walking distance to Union College, downtown Schenectady, and public transportation, with a bus stop directly across the street, this asset sits squarely in the path of the city's ongoing revitalization.
Most apartments feature hardwood floors, tiled bathrooms and the building is currently in good overall condition. At the asking price, the projected returns place the cap rate in the high-10% range, making this a compelling income play for both seasoned and first-time multifamily investors. Year built is approximate (CRS reflects 1984; believed inaccurate). Expense figures are estimated. Additional financial details available upon request. Invest in Schenectady's resurgence; this is a cash-flowing opportunity you don't want to miss.
Sewer
Public Sewer: 1
Architectural Style
Apartment 4 Plus Unit: 1
Low Rise: 1
Electric
200+ Amp Service: 1
220 Volts: 1
Circuit Breakers: 1
Single Phase: 1
Financial Details
General Taxes: 9081
General Taxes Description: Actual
School Taxes: 8433
School Taxes Description: Actual
Attic Features
Hatch: 1
Part: 1
Cooling
Window Unit(s): 1
Listing Terms
Owner Offers Concessions?: 1
Basement
Exterior Entry: 1
Full: 1
Heated: 1
Interior Entry: 1
Unfinished: 1
Walk-Out Access: 1
Bath Levels
Full Bath 1: 1st
Full Bath 2: 1st
Full Bath 3: 1st
Full Bath 4: 1st
Full Bath 5: 2nd
Full Bath 6: 2nd
Full Bath 7: 2nd
Full Bath 8: 3rd
Full Bath 9: 3rd
Full Bath 10: 3rd
Lot Features
Corner Lot: 1
Landscaped: 1
Level: 1
Road Frontage: 1
Construction Materials
Brick: 1
Other Structures
None: 1
Photos - the contractual owner of the photos
Photo Owner: Combination Ownership
Possession
At Closing: 1
Exterior Features
None: 1
Flooring
Ceramic Tile: 1
Hardwood: 1
Tile: 1
Vinyl: 1
Showing Requirements
24 Hour Notice: 1
Lockbox: 1
No Sign: 1
Occupied: 1
Security System: 1
Showing Service: 1
Special Listing Conditions
Standard: 1
Utilities
Cable Connected: 1
Roof
Rubber: 1
Water Source
Public: 1
Foundation Details
Concrete Perimeter: 1
Heating
Baseboard: 1
Electric: 1
Forced Air: 1
Natural Gas: 1
Zoned: 1
Income And Expenses
Rental Income: 17480
Rental Income Description: Monthly
Electric Expense Description: Estimated
Total Income: 209760
Total Income Description: Annually
Gas Expense: 725
Gas Expense Description: Estimated
Insurance Expense: 6500
Insurance Expense Description: Estimated
Water Sewer Expense: 325
Water Sewer Expense Desc.: Estimated
Operating Expense: 27600
Net Operating Income: 182212
Fuel Cost Description
Fuel Cost: 725
Heat Estimated: 1
Interior Features
Built-in Features: 1
Ceramic Tile Bath: 1
Walk-In Closet(s): 1
Parking Features
Parking Total: 18
None: 1
Levels
Three Or More: 1
Security Features
24 Hour Security: 1
Building Security: 1
Carbon Monoxide Detector(s): 1
Closed Circuit Camera(s): 1
Fire Alarm: 1
Fire Escape: 1
Fire Sprinkler System: 1
Security Lights: 1
Smoke Detector(s): 1
Separate Utilities
Electric: 1
Gas: 1
Heat: 1
Water Heater: 1
Number Of Separate Electric Meters: 17
Number Of Separate Gas Meters: 17
Tenant Pays
Cable TV: 1
Electricity: 1
Gas: 1
Hot Water: 1
Internet: 1
Unit Information
Number Of Refrigerators: 16
Number Of Stoves: 16
Multi-Family Unit 1 Detail
Unit Location MF Unit 1: 1A
Occupant Type MF Unit 1: Tenant
Monthly Rent MF Unit 1: 1000
Rent Desc. MF Unit 1: Actual
Lease Term MF Unit 1: Month To Month
Total Rooms MF Unit 1: 3
Total Bedrooms MF Unit 1: 1
Total Full Baths MF Unit 1: 1
Unit 1 Includes
Bathroom: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Stove: 1
Unit 1 Owner Furnish Features
Heat: 1
Maintenance Grounds: 1
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Multi-Family Unit 2 Detail
Unit Location MF Unit 2: 3A
Unit Available MF Unit 2: 1B
Occupant Type MF Unit 2: Tenant
Monthly Rent MF Unit 2: 1250
Rent Desc. MF Unit 2: Actual
Lease Term MF Unit 2: Month To Month
Total Rooms MF Unit 2: 3
Total Bedrooms MF Unit 2: 2
Total Full Baths MF Unit 2: 1
Unit 2 Owner Furnish Features
Heat: 1
Maintenance Grounds: 1
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 2 Includes
Bathroom: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Stove: 1
Multi-Family Unit 3 Detail
Unit Location MF Unit 3: 1C
Occupant Type MF Unit 3: Tenant
Monthly Rent MF Unit 3: 1050
Rent Desc. MF Unit 3: Actual
Lease Term MF Unit 3: Month To Month
Total Rooms MF Unit 3: 3
Total Bedrooms MF Unit 3: 1
Total Full Baths MF Unit 3: 1
Unit 3 Owner Furnish Features
Heat: 1
Maintenance Grounds: 1
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 3 Includes
Bathroom: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Stove: 1
Multi-Family Unit 4 Detail
Unit Location MF Unit 4: 1D
Occupant Type MF Unit 4: Tenant
Monthly Rent MF Unit 4: 1050
Rent Desc. MF Unit 4: Actual
Lease Term MF Unit 4: Month To Month
Total Rooms MF Unit 4: 3
Total Bedrooms MF Unit 4: 1
Total Full Baths MF Unit 4: 1
Unit 4 Owner Furnish Features
Heat: 1
Maintenance Grounds: 1
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 4 Includes
Bathroom: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Stove: 1
Multi-Family Unit 5 Detail
Unit Location MF Unit 5: 1E
Occupant Type MF Unit 5: Tenant
Monthly Rent MF Unit 5: 1050
Rent Desc. MF Unit 5: Actual
Lease Term MF Unit 5: Month To Month
Total Rooms MF Unit 5: 3
Total Bedrooms MF Unit 5: 1
Total Full Baths MF Unit 5: 1
Unit 5 Owner Furnish Features
Heat: 1
Maintenance Grounds: 1
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 5 Includes
Bathroom: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Stove: 1
Multi-Family Unit 6 Detail
Unit Location MF Unit 6: 2A
Occupant Type MF Unit 6: Tenant
Monthly Rent MF Unit 6: 1225
Rent Desc. MF Unit 6: Actual
Lease Term MF Unit 6: Month To Month
Total Rooms MF Unit 6: 4
Total Bedrooms MF Unit 6: 2
Total Full Baths MF Unit 6: 1
Unit 6 Owner Furnish Features
Heat: 1
Maintenance Grounds: 1
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 6 Includes
Bathroom: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Stove: 1
Multi-Family Unit 7 Detail
Unit Location MF Unit 7: 2B
Occupant Type MF Unit 7: Tenant
Monthly Rent MF Unit 7: 1250
Rent Desc. MF Unit 7: Actual
Lease Term MF Unit 7: Month To Month
Total Rooms MF Unit 7: 4
Total Bedrooms MF Unit 7: 2
Total Full Baths MF Unit 7: 1
Unit 7 Owner Furnish Features
Heat: 1
Maintenance Grounds: 1
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 7 Includes
Bathroom: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Stove: 1
Multi-Family Unit 8 Detail
Unit Location MF Unit 8: 2C
Occupant Type MF Unit 8: Tenant
Monthly Rent MF Unit 8: 1050
Rent Desc. MF Unit 8: Actual
Lease Term MF Unit 8: Month To Month
Total Rooms MF Unit 8: 3
Total Bedrooms MF Unit 8: 1
Total Full Baths MF Unit 8: 1
Unit 8 Owner Furnish Features
Heat: 1
Sewer: 1
Snow Removal: 1
Trash: 1
Water: 1
Unit 8 Includes
Bathroom: 1
Kitchen: 1
Living Room: 1
Refrigerator: 1
Stove: 1
Property Features
Architectural Style: Apartment 4 Plus Unit; Low Rise
Attic Features: Hatch; Part
Basement: Exterior Entry; Full; Heated; Interior Entry; Unfinished; Walk-Out Access
Construction Materials: Brick
Cooling: Window Unit(s)
Electric: 200+ Amp Service; 220 Volts; Circuit Breakers; Single Phase
Exterior Features: None
Flooring: Ceramic Tile; Hardwood; Tile; Vinyl
Foundation Details: Concrete Perimeter
Fuel Cost Description: Heat Estimated
Heating: Baseboard; Forced Air; Natural Gas; Zoned
Interior Features: Built-in Features; Ceramic Tile Bath; Walk-In Closet(s)
Levels: Three Or More
Listing Terms: Owner Offers Concessions?
Lot Features: Corner Lot; Landscaped; Level; Road Frontage
Other Structures: None
Parking Features: None
Possession: At Closing
Roof: Rubber
Security Features: 24 Hour Security; Building Security; Carbon Monoxide Detector(s); Closed Circuit Camera(s); Fire Alarm; Fire Escape; Fire Sprinkler System; Security Lights; Smoke Detector(s)
Separate Utilities: Electric; Gas; Heat; Water Heater
Sewer: Public Sewer
Showing Requirements: 24 Hour Notice; Lockbox; No Sign; Occupied; Security System; Showing Service
Special Listing Conditions: Standard
Tenant Pays: Cable TV; Electricity; Gas; Hot Water; Internet
Utilities: Cable Connected
Water Source: Public
Unit 1 Includes: Bathroom; Kitchen; Living Room; Refrigerator; Stove
Unit 1 Owner Furnish Features: Heat; Maintenance Grounds; Sewer; Snow Removal; Trash; Water
Unit 2 Owner Furnish Features: Heat; Maintenance Grounds; Sewer; Snow Removal; Trash; Water
Unit 2 Includes: Bathroom; Kitchen; Living Room; Refrigerator; Stove
Unit 3 Owner Furnish Features: Heat; Maintenance Grounds; Sewer; Snow Removal; Trash; Water
Unit 3 Includes: Bathroom; Kitchen; Living Room; Refrigerator; Stove
Unit 4 Owner Furnish Features: Heat; Maintenance Grounds; Sewer; Snow Removal; Trash; Water
Unit 4 Includes: Bathroom; Kitchen; Living Room; Refrigerator; Stove
Unit 5 Owner Furnish Features: Heat; Maintenance Grounds; Sewer; Snow Removal; Trash; Water
Unit 5 Includes: Bathroom; Kitchen; Living Room; Refrigerator; Stove
Unit 6 Owner Furnish Features: Heat; Maintenance Grounds; Sewer; Snow Removal; Trash; Water
Unit 6 Includes: Bathroom; Kitchen; Living Room; Refrigerator; Stove
Unit 7 Owner Furnish Features: Heat; Maintenance Grounds; Sewer; Snow Removal; Trash; Water
Unit 7 Includes: Bathroom; Kitchen; Living Room; Refrigerator; Stove
Unit 8 Owner Furnish Features: Heat; Sewer; Snow Removal; Trash; Water
Unit 8 Includes: Bathroom; Kitchen; Living Room; Refrigerator; Stove
Property Taxes 
Water & Sewer Bill 
Listing Courtesy of Carr Real Estate Group, LLC
Listing Agent: Richard Carr
518-488-2434 | richc1976@gmail.com
518-488-2434 | richc1976@gmail.com