All-Brick 16-Unit Multifamily
1011 Union Street, Schenectady, NY 12308
All-brick 16-unit property with sprinkler coverage and a newer rubber roof for a straightforward residential income investment.
Type:Commercial
Property size:
10,809 SFPrice / SF:
$147/SF- Added:
- Feb 27, 2026
- Days on Market:
- 98
- Last Refresh:
- Jun 5 at 2:01 am
Property Features for 1011 Union Street
General Information
- Standard status
- Active
- Size
- 10,809 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1984
Listing office Carr Real Estate Group,LLC
Listing date Feb 27, 2026
Source Signatureonerealtygroup
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
- All‑brick 16‑unit multifamily (Year built listed as 1984; approximate/CRS may be inaccurate)
- Generates $17,780/month in gross rents; $213,360 annual scheduled gross rent roll
- Sprinkler system in common areas on all four levels
- New rubber roof installed in 2022
- 16 units with 19 total bedrooms and 51 total rooms
- Bus stop directly across the street; within walking distance to Union College and downtown Schenectady
Overview
This all-brick 16-unit multifamily building is arranged across four levels and includes a full sprinkler system in common areas. The property has been described as being in good overall condition, with a rubber roof installed in 2022. Unit interiors are noted to feature hardwood floors. The building totals 19 bedrooms across 51 total rooms.
The property is located near Union College and downtown Schenectady, with public transportation nearby and a bus stop directly across the street. The remarks also note that the asset is within walking distance to these areas.
From a financial standpoint, the current performance is described as generating $17,780 per month in gross rents, with a gross annual scheduled rent roll of $213,360. The offering includes an estimate of expenses and notes that additional financial details are available upon request, with MLS documents referenced for further information. The projected returns in the remarks indicate a cap rate in the high-10% range at the asking price. The year built is approximate, and the listing materials indicate that related CRS information may be inaccurate.
The property is located near Union College and downtown Schenectady, with public transportation nearby and a bus stop directly across the street. The remarks also note that the asset is within walking distance to these areas.
From a financial standpoint, the current performance is described as generating $17,780 per month in gross rents, with a gross annual scheduled rent roll of $213,360. The offering includes an estimate of expenses and notes that additional financial details are available upon request, with MLS documents referenced for further information. The projected returns in the remarks indicate a cap rate in the high-10% range at the asking price. The year built is approximate, and the listing materials indicate that related CRS information may be inaccurate.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| 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
NOI $110,412 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.83M – $3.77M
NOI $226,470 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Schenectady
- County
- Schenectady
- State
- New York
- Longitude
- -73.9258274
- Latitude
- 42.8129719
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - All-brick 16-unit property with sprinkler coverage and a newer rubber roof for a straightforward residential income investment.
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 $1,590,000.
What are key features of this property?
This property features: All‑brick 16‑unit multifamily (Year built listed as 1984; approximate/CRS may be inaccurate); Generates $17,780/month in gross rents; $213,360 annual scheduled gross rent roll; Sprinkler system in common areas on all four levels
