Turn-Key Five-Unit Apartment
356 Union Street Hudson, NY 12534
For Sale
Contact for pricing
Five renovated apartments with in-unit laundry, including four one-bed units and a two-bedroom penthouse, plus approved rear development plans.
Property Size7,257 SF
Price / SF$213.59
Days on Market35
Property Features for 356 Union Street
General Information
- Standard status
- Active
- Size
- 7,257 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing Agency:
Compass Greater NY LLC
Listed By:
Sean Roland · License #10401340960
Source:
Crexi
Added: Jun 19
Changed: Jul 22
Last Checked: Jul 22 at 10:52PM
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 Compass Greater NY LLC
Investment Insights
Based on property information with market context.
This turn-key five-unit apartment building is a Second Empire manse that was fully restored through a complete gut renovation in 2020. The property consists of four one-bedroom apartments and a two-bedroom penthouse unit. Each apartment includes open-plan living spaces, one full and one half bathroom, in-unit laundry, and contemporary finishes such as hardwood floors, new windows, and stainless appliances while retaining the building’s historic character.
The building is located at 356 Union Street in Hudson, New York, positioned across from the historic Courthouse Square and about one block from the restaurants, galleries, and shops on Warren Street.
At the rear, a historic carriage house provides additional upside potential with approved plans for further development. Renovation work has already begun, with foundation and framing improvements completed, and the approved plans allow for the creation of two additional apartments, subject to the approved development scope. An income and expense report is available to qualified purchasers.
The building is located at 356 Union Street in Hudson, New York, positioned across from the historic Courthouse Square and about one block from the restaurants, galleries, and shops on Warren Street.
At the rear, a historic carriage house provides additional upside potential with approved plans for further development. Renovation work has already begun, with foundation and framing improvements completed, and the approved plans allow for the creation of two additional apartments, subject to the approved development scope. An income and expense report is available to qualified purchasers.
Key Highlights
- Five‑unit Second Empire investment property built in 1900 on Hudson’s Union Street, across from Courthouse Square
- Complete gut renovation completed in 2020; upgrades include new windows and contemporary finishes with stainless appliances and hardwood floors
- Unit mix: four 1‑bedroom apartments plus a 2‑bedroom penthouse; each unit has 1 full and 1 half bathroom and in‑unit laundry
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 | $130.6k | $18.00 |
| − Vacancy | −$6.5k | −$0.90 |
| EGI | $124.1k | $17.10 |
| − OpEx | −$55.8k | −$7.69 |
| NOI | $68.3k | $9.41 |
7,257 SF · lease $18.00/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$975.0K
$853.2K – $1.14M
NOI $68,252 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.09M
NOI $125,680 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Poppi Wellness + Bio ...
Spa & Massage Center
FAQs
What type of property is this?
Apartment building - Five renovated apartments with in-unit laundry, including four one-bed units and a two-bedroom penthouse, plus approved rear development plans.
Where is this apartment building located?
The property is located at 356 Union Street Hudson, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Five‑unit Second Empire investment property built in 1900 on Hudson’s Union Street, across from Courthouse Square; Complete gut renovation completed in 2020; upgrades include new windows and contemporary finishes with stainless appliances and hardwood floors; Unit mix: four 1‑bedroom apartments plus a 2‑bedroom penthouse; each unit has 1 full and 1 half bathroom and in‑unit laundry
