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16-Unit Multifamily Investment Opportunity

1011 Union Street, Schenectady, NY 12308

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For Sale

$1,695,000

Brick building near Union College generating $17,480 monthly gross rents.

Type:Commercial

Property size:

10,809 SF

Lot size:

0.19 Acres

Price / SF:

$156/SF

HighLights

High‑10% range cap rate offers a compelling income opportunity.
Generates $17,480/month in gross rents ($209,760 annually).
New rubber roof installed in 2022.
Full sprinkler system on all four levels in common areas.
Ideally located within walking distance to Union College, downtown Schenectady, and public transportation.
Solid all‑brick 16‑unit multifamily.

We can help!

Contact an agent

RICHARD CARR

For Sale

$1,695,000

Brick building near Union College generating $17,480 monthly gross rents.

Type:Commercial

Property size:

10,809 SF

Lot size:

0.19 Acres

Price / SF:

$156/SF

Added:: Feb 3, 2026
Days on Market:: 153
Last Refresh:: Apr 5 at 8:29 pm

Property Features for 1011 Union Street

General Information

Standard status: Active
Size: 10,809 SF
Lot size: 0.19 Acres
Property subtype: Commercial

Building Details

Year Built: 1984

We can help!

Contact an agent

RICHARD CARR

Listing office CARR REAL ESTATE GROUP, LLC

Listing date Feb 3, 2026

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of CARR REAL ESTATE GROUP, LLC

HighLights

High‑10% range cap rate offers a compelling income opportunity.
Generates $17,480/month in gross rents ($209,760 annually).
New rubber roof installed in 2022.
Full sprinkler system on all four levels in common areas.
Ideally located within walking distance to Union College, downtown Schenectady, and public transportation.
Solid all‑brick 16‑unit multifamily.

Overview

This is a 16-unit all-brick multifamily property generating $17,480 per month in gross rents, with a gross annual scheduled rent roll of $209,760. The property is located near Union College, downtown Schenectady, and public transportation, with a bus stop directly across the street. Most apartments feature hardwood floors, and the building is currently in good overall condition. It features a full sprinkler system on all four levels in common areas, plus a new rubber roof installed in 2022. The property contains 16 units with 19 total bedrooms and 51 total rooms. The building is located in an area undergoing revitalization. The property size is 10809 square feet. The year built is approximate. Additional financial details are available upon request.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$214.0k	$19.80
− Vacancy	−$13.3k	−$1.23
EGI	$200.7k	$18.57
− OpEx	−$90.3k	−$8.36
NOI	$110.4k	$10.21

10,809 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,412 @ 7.0% cap · market cap 6.51%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.24M

$2.83M – $3.77M (±1% cap)

NOI $226,470 @ 7.0% cap · market cap 13.36%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Schenectady
County: Schenectady
State: New York
Longitude: -73.9258
Latitude: 42.813

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For sale
Apartment buildings
NY
Schenectady
12308
1011 Union Street

What type of property is this?

Apartment building - Brick building near Union College generating $17,480 monthly gross rents.

Where is this apartment building located?

The property is located at 1011 Union Street Schenectady, NY.

What is the asking price?

The asking price for this property is $1,695,000.

What are key features of this property?

This property features: High‑10% range cap rate offers a compelling income opportunity.; Generates $17,480/month in gross rents ($209,760 annually).; New rubber roof installed in 2022.