Partially Converted 8-Unit Apartment
For Sale
Contact for pricing
54 Parkwood Boulevard, Hudson, NY 12534
R2-zoned property with restored cedar siding, original millwork, oak floors, and substantial infrastructure improvements.
Property Size3,925 SF
Price / SF$253.50
Days on Market10
Property Features for 54 Parkwood Boulevard
General Information
Standard status
Active
Size
3,925 SF
Class
C
Property subtype
Multifamily
Zoning
R2
Investment Type
Owner/User
Additional Details
Multifamily Units
8
Building Details
Year Built
1890
Buildings
1
Stories
3
Units
8
Construction
shingle style
Listing Agency:
Keller Williams Realty Partners
(914) 962-0007
Listed By:
Dominick DiFilippo · License #NY 10401290106
Source:
Crexi
Added: Aug 11
Changed: Aug 18
Last Checked: Aug 20 at 5:15AM
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 Keller Williams Realty Partners
Investment Insights
Based on property information with market context.
Located at 54 Parkwood Boulevard in Hudson, this 3,925-square-foot apartment property dates to 1890 and is presently arranged as a partially converted 8-unit multifamily building. Architectural elements include restored cedar shake siding, a multi-gabled roof, original millwork, oak flooring, and multi-paned windows. The property also includes a 520+/- square-foot barn for studio, workshop, or storage use.
Recent work includes a new roof and gutters, new boiler, 400-amp electrical service, a rebuilt front porch foundation, and roughed-in bathrooms. The R2 zoning supports the existing multifamily classification. The property is near Warren Street, the Hudson River, restaurants, shops, and scenic parks, with New York City approximately 2 hours away. Alternative configurations described for the property include a single-family residence, condominium conversion, or boutique bed and breakfast, subject to approvals.
Recent work includes a new roof and gutters, new boiler, 400-amp electrical service, a rebuilt front porch foundation, and roughed-in bathrooms. The R2 zoning supports the existing multifamily classification. The property is near Warren Street, the Hudson River, restaurants, shops, and scenic parks, with New York City approximately 2 hours away. Alternative configurations described for the property include a single-family residence, condominium conversion, or boutique bed and breakfast, subject to approvals.
Key Highlights
- Partially converted 8‑unit multifamily property
- 3,925 SF building constructed in 1890
- R2 zoning
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
$36,915
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
3.71%
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%
$738,300
$738.3K
Cap Rate 7%
$527,357
$527.4K
Cap Rate 9%
$410,167
$410.2K
Market Conditions
NOI Build-Up for 3,925 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
$70.7K $18.00/SF
− Vacancy
−$3.5K −$0.90/SF
EGI
$67.1K $17.10/SF
− OpEx
−$30.2K −$7.69/SF
NOI
$36.9K $9.41/SF
Area
Columbia County, NY
Vacancy
5.00%
Lease Rate
$18.00 /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%
$738,300
Cap Rate 7%
$527,357
Cap Rate 9%
$410,167
Alternative Uses
Best Use
Apartment 5plus
$527.4K
$461.4K – $615.3K
NOI $36,915 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$971.1K
$849.7K – $1.13M
NOI $67,975 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Explore this area
Business Placement
Demographics for 12534, NY
17,539
Population
9,613
Households
1.8
Avg Household Size
46
Median Age
33%
College-Educated
88%
High-School Grad
88.6 sq mi
ZIP Area
198
Density / Sq Mi
$76,086
Median Household Income
$40,823
Median Earnings
$1,296
Median Rent
$260,800
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 - R2-zoned property with restored cedar siding, original millwork, oak floors, and substantial infrastructure improvements.
Where is this apartment building located?
The property is located at 54 Parkwood Boulevard Hudson, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Partially converted 8‑unit multifamily property; 3,925 SF building constructed in 1890; R2 zoning
