For developers and investors:
A beautiful 10-unit, 3-story brick building at a great location in Amsterdam, NY. Close to an exit of Highway 5; ideal for long-term or short-term lease.
It needs a complete renovation, but a full set of architectural drawings is available with the sales.
The plan includes two 4-bedroom units, six 2--bedroom units, and two 1-bedroom units in the building.
The current owner has other business to run and is sorry to let go this development opportunity.
Rough estimate/forecast:
Total Construction Cost: $200k - $250k
Annual Gross Income of 10 Units? Rental: $90k
Cap Rate: 15% or higher
Off market
$358,300
38 Division St, Amsterdam, NY 12010
22beds
6,816sqft
MultiFamily
Built in ----
-- sqft lot
$358,300 Zestimate®
$53/sqft
$1,014 Estimated rent