4 Garden Apartment Complexes, Portfolio of 271 Free Market Units

737 Columbia Turnpike, East Greenbush, NY

$33,000,000

Price

6.2%

Cap Rate

$2,052,685

NOI

Overview
Cap Rate
6.2%
NOI
$2,052,685
Cash-on-Cash
11.4%
Combined Building Size
302,735 sqft
Occupancy
95%
Units
271
Year Built
2000's
Price Per Sqft
$109
Price Per Unit
$121,800
Floors
2
Description

Meridian Investment Sales is pleased to present the opportunity to acquire a portfolio of 271 free market units within four multifamily complexes located throughout the Capital District surrounding Albany, New York. The portfolio of properties (“Properties”) are well maintained and situated in the suburban neighborhoods of East Greenbush, Niskayuna, and Waterford, New York.

Albany is at the heart of New York’s Tech Valley, a hub of technological companies and educational facilities with a focus on biotech and life sciences. The Properties are located within minutes of Downtown Albany. This investment opportunity offers a portfolio of turn-key assets with long term attractive financing in place.

Addresses:
737 Columbia Turnpike, East Greenbush, NY 12061
95 Gilligan Road, East Greenbush, NY 12061
1503 Hillside Avenue, Niskayuna, NY 12309
5200 Plank Road, Waterford, NY 12188

Highlights
  • 100% FREE MARKET Portfolio of 271 renovated units | 302,735 SF
  • 75% assumable financing in place: $24,400,000 | Due 2027
  • 6.2% CAP | 11.4% Cash on Cash Reutrn | $121,770 PPU | $109 PSF | 8.5x GRM

Location
Gallery