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Beaver Lofts 83 Beaver St 9 Unit Apartment Building $2,219,087 CAD ($246,565 CAD/Unit) 8.70% Cap Rate Albany, NY 12207
Investment Highlights
- Fully remodeled (2013), charming, spacious 9-unit building walkable to everything.
- Assumable financing at 3.7%
- Tenants pay electric, gas, and cable; the owner pays trash, water, and sewer.
- 8.7% current cap rate with a proforma cap rate of 9.1% by mid-2027.
- Seven 2bed/2ba, one 2bed/1ba, and one 1bed/1ba. Average unit size is 1,200 SF.
- There are in-unit washers and dryers, central air, and 9 total parking spaces (5 garage spots and 4 outdoor spots).
Executive Summary
Fully remodeled (2013), charming, spacious 9-unit building walkable to everything. 8.7% current cap rate with a proforma cap rate of 9.1% by mid-2027. Assumable financing at 3.7%. Seven 2bed/2ba, one 2bed/1ba, and one 1bed/1ba. Average unit size is 1,200 SF. Tenants pay electric, gas, and cable; the owner pays trash, water, and sewer. There are in-unit washers and dryers, central air, and 9 total parking spaces (5 garage spots and 4 outdoor spots).
Property Facts
| Price | $2,219,087 CAD | Building Class | C |
| Price Per Unit | $246,565 CAD | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 20,954 SF |
| Cap Rate | 8.70% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1880/2013 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | C-3 - Commercial District | ||
| Price | $2,219,087 CAD |
| Price Per Unit | $246,565 CAD |
| Sale Type | Investment |
| Cap Rate | 8.70% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 20,954 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1880/2013 |
| Opportunity Zone |
Yes |
| Zoning | C-3 - Commercial District |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Stainless Steel Appliances
- Intercom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 1,040 |
| 2+1 | 1 | - | 1,134 |
| 2+2 | 7 | - | 1,052 - 1,639 |
Moderately walkable
70/100
Very drivable
80/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 010100-076-042-0001-020-000-0000 | Improvements Assessment | $1,470,701 CAD |
| Land Assessment | $166,432 CAD | Total Assessment | $1,637,132 CAD |
Property Taxes
Parcel Number
010100-076-042-0001-020-000-0000
Land Assessment
$166,432 CAD
Improvements Assessment
$1,470,701 CAD
Total Assessment
$1,637,132 CAD
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Beaver Lofts | 83 Beaver St
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