597 Bross St - Apartments FOR SALE


Cairo, NY 12413
$2,500,000 USD
201-742-6133
597 Bross St, Cairo, NY for Sale
$2,500,000 USD
Apartments - FOR SALE
1/8
null | 7.5% Cap Rate

597 Bross St
Cairo, NY 12413


HIGHLIGHTS

  • 22-Unit Apartment Community Across Eight Buildings
  • Approximately 40% Rental Upside Through Mark-To-Market Rent Growth
  • Expansive 10.5 Acre Site With Scenic Creek And Pond Frontage
  • On-Site Laundry Facilities And Ample Parking Support Tenant Retention
  • Large On-Site Maintenance Building Provides Operational Efficiency
  • Located Near The Catskill Mountains, Benefiting From Year-Round Tourism, Regional Employment, And Continued Population Growth

OVERVIEW

Creekside Apartments is a 22-unit apartment community located in Cairo, New York, offering a unique investment opportunity in the scenic northern Hudson Valley and Great Northern Catskills region. The property consists of eight wood-frame buildings on an expansive 10.51-acre site with scenic creek and pond frontage. The diverse unit mix features one, two, and three-bedroom apartments, providing a stable cash flow with 100% occupancy and an established tenant base. The property presents approximately 40% rental upside through mark-to-market rent growth, with current average rents significantly below market rates. On-site amenities include laundry facilities and ample surface parking with 40 spots, supporting tenant retention. A large on-site maintenance building provides operational efficiency for property management.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

22

PRICE/UNIT

$113,636

CAP RATE

7.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Creekside Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1945

PARKING SPACES

40

LAND DETAILS

LAND ACRES

10 AC

LAND SF

435,600 SF

ZONING

01

APN/PARCEL ID

192400-084-000-0005-010-000-0000

ASK ABOUT THIS PROPERTY

Brian KaplanMarcus & MillichapMore Info
201-742-6133

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Brian KaplanMarcus & MillichapMore Info
201-742-6133

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