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Mt. Beacon and Willow Ct 208-210 Main St 64 Unit Apartment Building $8,268,000 CAD ($129,188 CAD/Unit) 6.30% Cap Rate Poughkeepsie, NY 12601
Investment Highlights
- 49-unit elevator apartment building located in the heart of the City of Poughkeepsie
- Currently 97% occupied
- In-place rents averaging $1,379 per month compared to estimated market rents of $1,524
- 35,000-square-foot property comprised of 41 one-bedroom and 8 two-bedroom apartments
- 100% free-market asset
- Well-configured, professionally managed apartment building
Executive Summary
The New York Multifamily Group is pleased to present for sale 208-210 Main Street, a 49-unit elevator apartment building located in the heart of the City of Poughkeepsie. The 35,000-square-foot property is comprised of 41 one-bedroom and 8 two-bedroom apartments and is currently 97% occupied.
The property offers a compelling opportunity to acquire a well-located, 100%free-market asset with in-place rents averaging $1,379 per month compared to estimated market rents of$1,524, providing a clear path for continued rental growth.
The property offers a compelling opportunity to acquire a well-located, 100%free-market asset with in-place rents averaging $1,379 per month compared to estimated market rents of$1,524, providing a clear path for continued rental growth.
Property Facts
| Price | $8,268,000 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $129,188 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 6.30% | Building Size | 33,564 SF |
| Gross Rent Multiplier | 7.4 | No. Stories | 4 |
| No. Units | 64 | Year Built | 1986 |
| Property Type | Multifamily | Parking Ratio | 0.05/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C-2 | ||
| Price | $8,268,000 CAD |
| Price Per Unit | $129,188 CAD |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| Gross Rent Multiplier | 7.4 |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 33,564 SF |
| No. Stories | 4 |
| Year Built | 1986 |
| Parking Ratio | 0.05/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C-2 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Handrails
- Warming Drawer
- Wheelchair Accessible (Rooms)
- Window Coverings
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Renters Insurance Program
- Hearing Impaired Accessible
- Maintenance on site
- Online Services
- Vision Impaired Accessible
- Individual Locking Bedrooms
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 54 | - | 750 |
| 2+1 | 10 | - | 1,000 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 131300-6062-84-976119-0000 | Improvements Assessment | $6,110,052 CAD |
| Land Assessment | $90,948 CAD | Total Assessment | $6,201,000 CAD |
Property Taxes
Parcel Number
131300-6062-84-976119-0000
Land Assessment
$90,948 CAD
Improvements Assessment
$6,110,052 CAD
Total Assessment
$6,201,000 CAD
Contacts
-
Seth Glasser -
Michael Fusco -
Matthew Gault -
Scott Wasserberger -
Marcus & Millichap
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Mt. Beacon and Willow Ct | 208-210 Main St
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