586 Route 20 - Apartments FOR SALE


Cairo, NY 12413
$2,600,000 USD
845-622-5660
586 Route 20, Cairo, NY for Sale
$2,600,000 USD
Apartments - FOR SALE
1/16
null | 10.25% Cap Rate

586 Route 20
Cairo, NY 12413


HIGHLIGHTS

  • 20 units total, 21st 3 bedroom unit ready to build
  • Comprehensive unit renovations completed — kitchens, baths, flooring, appliances, and more in most of the units
  • Full infrastructure upgrade: water system, septic, and roofing work completed
  • Tenant-paid electric with individual meters
  • Simple, efficient layout with minimal common area maintenance
  • Strong tenant demand driven by regional workforce housing shortage

OVERVIEW

Turn-key scale, operational efficiency, with both short and long-term upside. Set on 4.7 acres, with 5 detached buildings: a main building with 9 various-sized units, a single-unit cottage, and two motel-style outbuildings — one with 8 units and one with 2 units, all individually metered. Short term, there is a 21st unit approved for a 3 bedroom apartment, and a garage that can be leased commercially. The 4.7-acre parcel offers even more long term development potential, including additional units, self-storage and more subject to municipal approvals. The property has undergone a comprehensive renovation program across the majority of units — ranging from fresh paint and new flooring to full gut renovations including new kitchens, bathrooms, electrical, plumbing, sheetrock, heating, and appliances. Infrastructure improvements include a complete water system overhaul, a new septic tank installation, repair of three existing septic tanks, and a new roof on two units. The result is a stabilized, well-capitalized asset with deferred maintenance addressed and a clean operating baseline going forward. 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, the property serves a tenant base spanning a range of incomes and occupations. It 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

$2,600,000 USD

PRICE/SF

$165 USD /SF

# OF UNITS

21

PRICE/UNIT

$123,810

CAP RATE

10.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cairo Commons

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

13

LAND DETAILS

LAND ACRES

4.75 AC

LAND SF

206,986 SF

ZONING

01

APN/PARCEL ID

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

ASK ABOUT THIS PROPERTY

Zev EisenbergHudson Modern Co.More Info
845-622-5660

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Zev EisenbergHudson Modern Co.More Info
845-622-5660

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