45 Columbia St - Apartments FOR SALE


$5,500,000 USD
518-337-3705
45 Columbia St, Albany, NY for Sale
$5,500,000 USD
Apartments - FOR SALE
1/58
null | 8.8% Cap Rate


HIGHLIGHTS

  • Twenty-two (22) market-rate residential apartment units
  • One hundred seventy (170) interior heated garage parking spaces
  • Priced to move at only $64 PSF

OVERVIEW

The Kennedy at 45 Columbia: +/-85,357 SF Mixed-Use Multifamily Property and Parking Garage. Twenty-two (22) market-rate residential apartment units. One hundred seventy (170) interior heated garage parking spaces. Located in the heart of Downtown Albany, New York. Surrounded by numerous hotels, restaurants, bars & entertainment options. Directly on a public bus line. Renovated in 2021. 100% occupied. 8.80% cap rate based on current income. Upside through conversion of a portion of existing parking garage space to additional residential units. Favorable 485-a real property tax exemption in place. Located in a Qualified Opportunity Zone. Priced to move at only $64 PSF.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

22

PRICE/UNIT

$250,000

CAP RATE

8.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Kennedy

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

MU-DT

APN/PARCEL ID

010100-076-034-0001-007-000-0000

ASK ABOUT THIS PROPERTY

Rudy LynchCarrow Real Estate ServicesMore Info
518-337-3705

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Rudy LynchCarrow Real Estate ServicesMore Info
518-337-3705

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