6-Unit Brick Apartment
For Sale
$950,000
140 Union Street, Poughkeepsie, NY 12601
Updated apartments are fully leased with separate utilities and third-party property management.
Property Size3,056 SF
Days on Market21
Property Features for 140 Union Street
General Information
Standard status
Active
Size
3,056 SF
Property subtype
Commercial
Zoning
R-4A
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$21,117
Building Details
Building Size
3,056 SF
Year Built
1920
Buildings
1
Stories
3
Units
6
Construction
brick
Listing Agency:
BHHS Hudson Valley Properties
(845) 473-1650
Listed By:
Brian Mossey · License #10401263453
(845) 473-1650
Source:
Mydreamhomerealty
Added: Aug 10
Changed: Aug 27
Last Checked: Aug 28 at 11:29AM
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 BHHS Hudson Valley Properties
Investment Insights
Based on property information with market context.
Built in 1920, this six-unit brick apartment building contains updated apartments with efficient layouts, bright gathering spaces, quality finishes, and reliable mechanical systems. The property is fully leased, with separate utilities and third-party property management in place.
Located at 140 Union St in Poughkeepsie, the building sits at the entrance to the city, just over the Mid-Hudson Bridge and approximately one-half mile from the Poughkeepsie Metro-North train station. The property is positioned within the Union Street neighborhood and combines updated residential interiors with an established multifamily configuration.
Located at 140 Union St in Poughkeepsie, the building sits at the entrance to the city, just over the Mid-Hudson Bridge and approximately one-half mile from the Poughkeepsie Metro-North train station. The property is positioned within the Union Street neighborhood and combines updated residential interiors with an established multifamily configuration.
Key Highlights
- Six‑unit brick apartment building built in 1920
- All six apartments are updated and fully leased
- Separate utilities serve the apartments
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,501
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,050,020
$1.1M
Cap Rate 7%
$750,014
$750.0K
Cap Rate 9%
$583,344
$583.3K
Market Conditions
NOI Build-Up for 3,056 SF
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.
Gross rent
$100.5K $32.88/SF
− Vacancy
−$5.0K −$1.64/SF
EGI
$95.5K $31.24/SF
− OpEx
−$43.0K −$14.06/SF
NOI
$52.5K $17.18/SF
Area
Dutchess County, NY
Vacancy
5.00%
Lease Rate
$32.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,050,020
Cap Rate 7%
$750,014
Cap Rate 9%
$583,344
Alternative Uses
Best Use
Apartment 5plus
$750.0K
$656.3K – $875.0K
NOI $52,501 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.9K
$804.9K – $1.07M
NOI $64,394 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 12601, NY
44,264
Population
17,972
Households
2.5
Avg Household Size
35
Median Age
30%
College-Educated
88%
High-School Grad
18.3 sq mi
ZIP Area
2,419
Density / Sq Mi
$64,769
Median Household Income
$37,259
Median Earnings
$1,376
Median Rent
$275,800
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 - Updated apartments are fully leased with separate utilities and third-party property management.
Where is this apartment building located?
The property is located at 140 Union Street Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Six‑unit brick apartment building built in 1920; All six apartments are updated and fully leased; Separate utilities serve the apartments
