Multifamily Investment
For Sale
$624,000
110 Broad Street, Gloversville, NY 12078
Eight-unit multifamily property, with six units being remodeled and tenants paying their own utilities.
Property Size3,992 SF
Price / SF$156.31
Days on Market104
Property Features for 110 Broad Street
General Information
Standard status
Active
Size
3,992 SF
Property subtype
Commercial
Additional Details
Multifamily Units
8
Listing Agency:
Schermerhorn Realty Group LLC
Listed By:
Sarah Newton
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 17
Changed: Aug 25
Last Checked: Aug 26 at 10:22AM
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 Schermerhorn Realty Group LLC
Investment Insights
Based on property information with market context.
This multifamily property features a total of eight units. Six of the units are currently being remodeled, including one unit that has been brought down to the studs. The eighth unit is rented to the same tenant for more than a decade. The property is currently grossing $71,244, and the listing notes that a unit is expected to be rented this week to bring new gross income to $83,184. Tenants pay their own utilities.
The offering also includes an additional parcel with a building that is ready for a new owner’s vision or a tear-down option. A six-bay garage is also included, with potential to generate additional income.
For buyers seeking a larger residential income footprint, the combination of in-progress unit renovations, the included additional parcel, and the on-site garage provides multiple ways to position the property for future operations.
The offering also includes an additional parcel with a building that is ready for a new owner’s vision or a tear-down option. A six-bay garage is also included, with potential to generate additional income.
For buyers seeking a larger residential income footprint, the combination of in-progress unit renovations, the included additional parcel, and the on-site garage provides multiple ways to position the property for future operations.
Key Highlights
- 8‑unit multifamily property; 6 units are being remodeled (one unit down to the studs) and the 8th unit is occupied by the same tenant for over a decade
- Current gross income is $71,244; adding one unit to rent this week brings projected gross income to $83,184
- Tenants pay their own utilities
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property, with six units being remodeled and tenants paying their own utilities.
Where is this apartment building located?
The property is located at 110 Broad Street Gloversville, NY.
What is the asking price?
The asking price for this property is $624,000.
What are key features of this property?
This property features: 8‑unit multifamily property; 6 units are being remodeled (one unit down to the studs) and the 8th unit is occupied by the same tenant for over a decade; Current gross income is $71,244; adding one unit to rent this week brings projected gross income to $83,184; Tenants pay their own utilities
