$4,250,000
Troy, NY 12180
MLS# 202621635
1 / 12
Property Description
Exceptional opportunity to acquire School One Lofts, a fully occupied 29-unit multifamily asset featuring approximately $3.1 million of assumable Fannie Mae financing at 5.23% and a long-term PILOT tax agreement through 2037. Originally converted from a historic school, the property offers spacious loft-style residences with oversized windows, original hardwood flooring, granite countertops, stainless steel appliances and in-unit laundry. Residents enjoy on-site parking and ''All-In Living'' package, which combines fiber internet, cable, electricity, heating, air conditioning and hot water into one monthly payment. Proven rental history, attractive in-place cash flow and operational upside through improved management efficiencies make this a strong investment opportunity.
Details
Maps
Contract Information
Original List Price: 4250000
List Price/SqFt: 166.54
Status: Active
Property Sub Type: Multi Family
List Price: $4,250,000
Current Price: $4,250,000
Listing Contract Date: 2026-07-13
Location
City/Town (Mail): Troy
Street Number: 2920
Street Name: 5th
Street Suffix: Avenue
County: Rensselaer
State/Province: NY
Postal Code: 12180
Geo Lat: 42.746805
Geo Lon: -73.682414
Property Detail
Number Of Units Total: 29
Rooms Total: 100
Bathrooms Half: 0
Garage Spaces: 0
Above Grade Finished Area: 25519
Above Grade Finished Area Source: CRS
Parking Y/N: Yes
Below Grade Finished Area: 10665
Below Grade Finished Area Source: CRS
Living Area: 25519
Lot Size Dimensions: 123X180
Lot Size Acres: 0.62
Waterfront Y/N: No
Enhanced Accessible Y/N: No
Year Built: 1920
Parcel, Tax, HOA
Parcel Number: 381700 90.70-7-1
Tax Annual Amount: 16762
Tax Section: 90.70
Total Taxes Description: See Remarks
Tax Block: 7
Tax Lot: 1.000
School District: Troy
Association Y/N: No
Directions & Remarks
Directions: GPS - School One Lofts Troy NY
Public Remarks: Exceptional opportunity to acquire School One Lofts, a fully occupied 29-unit multifamily asset featuring approximately $3.1 million of assumable Fannie Mae financing at 5.23% and a long-term PILOT tax agreement through 2037. Originally converted from a historic school, the property offers spacious loft-style residences with oversized windows, original hardwood flooring, granite countertops, stainless steel appliances and in-unit laundry. Residents enjoy on-site parking and ''All-In Living'' package, which combines fiber internet, cable, electricity, heating, air conditioning and hot water into one monthly payment. Proven rental history, attractive in-place cash flow and operational upside through improved management efficiencies make this a strong investment opportunity.
Sewer
Public Sewer: 1
Architectural Style
Apartment 4 Plus Unit: 1
Cooling
Wall Unit(s): 1
Other: 1
Basement
Finished: 1
Full: 1
Lot Features
Level: 1
Construction Materials
Block: 1
Brick: 1
Photos - the contractual owner of the photos
Photo Owner: Combination Ownership
Possession
At Closing: 1
Subject To Tenant Rights: 1
Exterior Features
Lighting: 1
Showing Requirements
Agent to Accompany: 1
Call Listing Agent: 1
Special Listing Conditions
Standard: 1
Utilities
Cable Available: 1
Roof
Flat: 1
Other: 1
View
City: 1
Water Source
Public: 1
Heating
Baseboard: 1
Electric: 1
Heat Pump: 1
Other: 1
Interior Features
Built-in Features: 1
High Speed Internet: 1
Stone Countertops: 1
Other: 1
Parking Features
Parking Total: 30
Off Street: 1
Paved: 1
Security Features
Security System Owned: 1
Separate Utilities
Other: 1
Tenant Pays
Cable TV: 1
Central Air: 1
Electricity: 1
Heat: 1
Internet: 1
Other: 1
Multi-Family Unit 1 Detail
Unit Location MF Unit 1: 1
Total Rooms MF Unit 1: 5
Total Bedrooms MF Unit 1: 1
Total Full Baths MF Unit 1: 1
Multi-Family Unit 2 Detail
Unit Location MF Unit 2: 1
Total Rooms MF Unit 2: 5
Total Bedrooms MF Unit 2: 1
Total Full Baths MF Unit 2: 1
Multi-Family Unit 3 Detail
Unit Location MF Unit 3: 1
Total Rooms MF Unit 3: 5
Total Bedrooms MF Unit 3: 1
Total Full Baths MF Unit 3: 1
Multi-Family Unit 4 Detail
Unit Location MF Unit 4: 1
Total Rooms MF Unit 4: 6
Total Bedrooms MF Unit 4: 2
Total Full Baths MF Unit 4: 1
Multi-Family Unit 5 Detail
Unit Location MF Unit 5: 1
Total Rooms MF Unit 5: 6
Total Bedrooms MF Unit 5: 2
Total Full Baths MF Unit 5: 1
Multi-Family Unit 6 Detail
Unit Location MF Unit 6: 1
Total Rooms MF Unit 6: 6
Total Bedrooms MF Unit 6: 2
Total Full Baths MF Unit 6: 1
Multi-Family Unit 7 Detail
Unit Location MF Unit 7: 1
Total Rooms MF Unit 7: 6
Total Bedrooms MF Unit 7: 2
Total Full Baths MF Unit 7: 1
Multi-Family Unit 8 Detail
Unit Location MF Unit 8: 1
Total Rooms MF Unit 8: 5
Total Bedrooms MF Unit 8: 1
Total Full Baths MF Unit 8: 1
Status Change Info
Status Change Date: 2026-07-13
Property Features
Architectural Style: Apartment 4 Plus Unit
Basement: Finished; Full
Construction Materials: Block; Brick
Cooling: Wall Unit(s); Other
Exterior Features: Lighting
Heating: Baseboard; Electric; Heat Pump; Other
Interior Features: Built-in Features; High Speed Internet; Stone Countertops; Other
Lot Features: Level
Parking Features: Off Street; Paved
Possession: At Closing; Subject To Tenant Rights
Roof: Flat; Other
Security Features: Security System Owned
Separate Utilities: Other
Sewer: Public Sewer
Showing Requirements: Agent to Accompany; Call Listing Agent
Special Listing Conditions: Standard
Tenant Pays: Cable TV; Central Air; Electricity; Heat; Internet; Other
Utilities: Cable Available
Water Source: Public
Listing Courtesy of Realty One Group Key
Listing Agent: Ryan Mortka
518-534-3714 | ryan@realtyonegroupkey.com
518-534-3714 | ryan@realtyonegroupkey.com
