586 Old Route 23 - Multi-Family FOR SALE


Cairo, NY 12413
$2,995,000 USD
845-309-7454
586 Old Route 23, Cairo, NY for Sale
$2,995,000 USD
Multi-Family - FOR SALE
1/16
null | 8.9% Cap Rate

586 Old Route 23
Cairo, NY 12413


HIGHLIGHTS

  • 21 units total: 20 leased + 1 leased at closing
  • Tenant-paid electric with individual meters
  • Renovated interiors and updated systems
  • Simple, efficient layout with minimal common area maintenance
  • Large parcel with additional land for expansion or improvements
  • Up to 20% seller financing available for qualified cash or 1031 buyers

OVERVIEW

Turn-key scale, operational efficiency, and long-term upside. Set on 4.7 acres with 5 detached buildings: a main building with 10 various sized units, a single unit cottage, and two motel-style outbuildings, one with 8 units, and one with 2 units. 20 units are currently leased, with a 21st delivered leased at closing. Units are individually metered, supporting transparent operating expenses and clear NOI reporting. The 4.7-acre parcel may offer additional development potential, subject to municipal approvals. Seller may consider up to 20% owner financing for qualified buyers. Nearby communities including Hudson, Leeds, Catskill, and Windham are seeing renewed investment and development activity, from boutique hospitality to mixed-use revitalization projects—driving economic activity and long-term rental stability across Greene County. Located directly off Route 23, it serves a tenant base spanning a range of incomes and occupations. The property delivers dignified, well-maintained housing that tenants stay in, not cycle through—making it especially well-positioned in a region where demand for workforce housing continues to outpace supply.

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/SF

$239 USD /SF

# OF UNITS

21

PRICE/UNIT

$142,619

CAP RATE

8.9%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cairo Commons

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

01

APN/PARCEL ID

192400-082-004-0002-015-000-0000

ASK ABOUT THIS PROPERTY

Zev EisenbergHudson Modern Co.More Info
845-309-7454

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Zev EisenbergHudson Modern Co.More Info
845-309-7454

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