1011 Union Street, Schenectady, NY 12308 (MLS# 202611447)

$1,590,000

1011 Union Street
Schenectady, NY 12308
MLS# 202611447
Status: Pending
16 baths | 10809 sqft

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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 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, 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. There are 16 units with 19 total bedrooms and 51 total rooms. Additional financial details available upon request. See MLS Docs. 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

Lease Considered: No

List Price/SqFt: 147.1

List Price/Acres: 8368421.05

Status: Pending

Property Sub Type: Multi Family

List Price: $1,590,000

Listing Contract Date: 2026-02-03

Current Price: $1,590,000

Location

Postal Code +4: 2803

City/Town (Mail): Schenectady

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

Year Established: 1984

Stories: 3

Number Of Buildings: 1

Business Name: Schenectady Gardens

Parking Y/N: Yes

Lot Size Square Feet: 8073

Zoning: Multi Residence

Lot Size Dimensions: 54X149.5

Lot Size Acres: 0.19

Building Area Total: 10809

Building Available SQFT: 10809

Main Road Frontage: 150

Waterfront Y/N: No

Enhanced Accessible Y/N: No

Land Lease Y/N: No

Year Built: 1984

Bathrooms Total: 16

Status Change Info

Proposed Closing Date: 2026-07-20

Status Change Date: 2026-06-05

Under Contract Date: 2026-06-02

Parcel, Tax, HOA

New Construction Y/N: No

Parcel Number: 421500 39.75-1-23

Tax Annual Amount: 17349.04

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, the building is on the corner of Union St. & Park Ave

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 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, 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. There are 16 units with 19 total bedrooms and 51 total rooms. Additional financial details available upon request. See MLS Docs. Invest in Schenectady's resurgence; this is a cash-flowing opportunity you don't want to miss.

Sewer

Public Sewer: 1

Current Use

Multi-Family: 1

Architectural Style

Apartments: 1

Commercial: 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

Cooling

None: 1

Basement

Exterior Entry: 1

Full: 1

Heated: 1

Interior Entry: 1

Unfinished: 1

Walk-Out Access: 1

Lot Features

Corner Lot: 1

Level: 1

Road Frontage: 1

Building Detail

Fire Sprinkler System Y/N: Yes

Fire Sprinkler Description: 4 levels

Building Ceiling Height: 9

Construction Materials

Brick: 1

Photos - the contractual owner of the photos

Photo Owner: Combination Ownership

Possession

At Closing: 1

Business Type

Residential: 1

Flooring

Ceramic Tile: 1

Hardwood: 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

Roof

Flat: 1

Rubber: 1

Water Source

Public: 1

Heating

Baseboard: 1

Electric: 1

Forced Air: 1

Natural Gas: 1

Zoned: 1

Interior Features

Built-in Features: 1

Ceramic Tile Bath: 1

High Speed Internet: 1

Parking Features

Parking Total: 18

On Street: 1

Public Parking: 1

Possible Use

Multi-Family: 1

Sale Includes

Building & Land: 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

Tenant Pays

Electricity: 1

Gas: 1

Hot Water: 1

Internet: 1

Property Features

Architectural Style: Apartments; Commercial

Basement: Exterior Entry; Full; Heated; Interior Entry; Unfinished; Walk-Out Access

Construction Materials: Brick

Cooling: None

Current Use: Multi-Family

Business Type: Residential

Electric: 200+ Amp Service; 220 Volts; Circuit Breakers; Single Phase

Flooring: Ceramic Tile; Hardwood; Vinyl

Heating: Baseboard; Forced Air; Natural Gas; Zoned

Interior Features: Built-in Features; Ceramic Tile Bath; High Speed Internet

Lot Features: Corner Lot; Level; Road Frontage

Parking Features: On Street; Public Parking

Possession: At Closing

Possible Use: Multi-Family

Roof: Flat; Rubber

Sale Includes: Building & Land

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)

Sewer: Public Sewer

Showing Requirements: 24 Hour Notice; Lockbox; No Sign; Occupied; Security System; Showing Service

Special Listing Conditions: Standard

Tenant Pays: Electricity; Gas; Hot Water; Internet

Water Source: Public

Listing Documents