Turnkey Two-Building Apartment
1114 Union Street Schenectady, NY 12308
1114 Union Street, Schenectady, NY, 12308
$1,700,000
For Sale
$1,700,000
Two fully occupied five-unit apartment buildings are offered together with off-street parking and recent apartment renovations.
Property Size9,905 SF
Price / SF$171.63
Days on Market16
Property Features for 1114 Union Street
General Information
- Standard status
- Active
- Size
- 9,905 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1985
Listing Agency
Realty One Group Key
Listed by
Ryan Mortka
(518) 639-4663
Source
Signatureonerealtygroup
Added: Jul 2 Checked: Jul 17 at 3:16 am
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 Realty One Group Key
Investment Insights
Based on property information with market context.
Offered as a turnkey package, this portfolio includes two fully occupied five-unit apartment buildings. The properties feature a diverse unit mix and have seen more than $220,000 in capital improvements since 2022, including renovated apartments, updated kitchens and baths, refinished hardwood and luxury vinyl flooring, and plumbing and mechanical upgrades, along with exterior painting. Tenants pay their own utilities, and both buildings provide off-street parking, with garages included at 1114 Union St.
The buildings are located near Union College, Ellis Hospital, downtown Schenectady, and nearby shopping and dining, with access to major highways. Financial information is available upon request.
The buildings are located near Union College, Ellis Hospital, downtown Schenectady, and nearby shopping and dining, with access to major highways. Financial information is available upon request.
Key Highlights
- 10‑unit apartment portfolio: two fully occupied five‑unit buildings offered together
- Year built: 1985
- Off‑street parking for both properties; garages at 1114 Union St.
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 | $196.1k | $19.80 |
| − Vacancy | −$12.2k | −$1.23 |
| EGI | $184.0k | $18.57 |
| − OpEx | −$82.8k | −$8.36 |
| NOI | $101.2k | $10.21 |
9,905 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.26M – $1.69M
NOI $101,178 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.96M
$2.59M – $3.46M
NOI $207,530 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two fully occupied five-unit apartment buildings are offered together with off-street parking and recent apartment renovations.
Where is this apartment building located?
The property is located at 1114 Union Street Schenectady, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 10‑unit apartment portfolio: two fully occupied five‑unit buildings offered together; Year built: 1985; Off‑street parking for both properties; garages at 1114 Union St.
