45-47 Spring St - Apartments FOR SALE


Ossining, NY 10562
$4,875,000 USD
914-301-6879
45-47 Spring St, Ossining, NY for Sale
$4,875,000 USD
Apartments - FOR SALE
1/17
null | Request Cap Rate

45-47 Spring St
Ossining, NY 10562


HIGHLIGHTS

  • Value-Add Opportunity | Free Market Rents
  • Turn-Key Asset
  • Ideal Location
  • Opportunity To Scale

OVERVIEW

Northeast Private Client Group is pleased to present the exclusive opportunity to purchase 45-47 Spring Street, Ossining, NY. 45-47 Spring Street is a free market mixed-use property consisting of 12 one-bedroom apartments and a 2,829 square foot street level laundromat. All 12 apartments are free market and not subject to rent stabilization. Tenants are responsible for gas heat and hot water, and electricity. Landlord is responsible for water and sewer for the apartments, while the laundromat pays their own water and sewer. The property was gut-renovated in 2008. At that time, all major cap-ex items were completed. Brand new HVAC and electric systems were installed, including new gas and electric meters. The entire envelope was also replaced – new roof, new siding and all new windows. All units feature modern kitchens and bathrooms, hardwood floors and imported stone throughout. This is a true turn-key property with plenty of upside in the rents. A new owner can increase rent by around 20% on average.

FOR SALE DETAILS

PRICE

$4,875,000 USD

PRICE/SF

$401 USD /SF

# OF UNITS

13

PRICE/UNIT

$375,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1917

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,550 SF

ZONING

R

APN/PARCEL ID

5601-080-049-00001-000-0028

ASK ABOUT THIS PROPERTY

Karl HasselrotNortheast Private Client GroupMore Info
914-301-6879

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Karl HasselrotNortheast Private Client GroupMore Info
914-301-6879

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.