Park-Side 10-Unit Apartment
For Sale
$1,475,000
6627-6633 Park Place, Hudson, NY 12534
Fully leased multifamily property with renovated kitchens and baths across two buildings.
Property Size8,477 SF
Days on Market14
Property Features for 6627-6633 Park Place
General Information
Standard status
Active
Size
8,477 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Road Access
Yes
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$13,758
Building Details
Building Size
8,477 SF
Year Built
1940
Buildings
2
Listing Agency:
Hudson Modern
Listed By:
Sheneur Menaker · License #10401325821
Source:
Tkgre
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 11 at 1:10PM
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 Hudson Modern
Investment Insights
Based on property information with market context.
This 10-unit apartment property comprises two buildings at 6627-6629 Park Place and 6633 Park Place. The 1940-built asset includes three full-building units at the first address, plus the complete building at 6633 Park Place. Several apartments have received substantial renovations, including updated kitchens and bathrooms, supporting the property's current rental operation.
The buildings sit across from Stottville Park and Ball Field on a quiet dead-end road, with nearby access to Claverack Creek and the Empire State Trail. Hudson is approximately three miles south, providing access to dining, shopping, galleries, Amtrak service, and cultural attractions. All 10 units are fully leased.
The buildings sit across from Stottville Park and Ball Field on a quiet dead-end road, with nearby access to Claverack Creek and the Empire State Trail. Hudson is approximately three miles south, providing access to dining, shopping, galleries, Amtrak service, and cultural attractions. All 10 units are fully leased.
Key Highlights
- 10‑unit apartment property comprising two buildings
- All 10 units are fully leased
- Several apartments include gut renovations, new kitchens, and new baths
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
$79,726
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
5.41%
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%
$1,594,520
$1.6M
Cap Rate 7%
$1,138,943
$1.1M
Cap Rate 9%
$885,844
$885.8K
Market Conditions
NOI Build-Up for 8,477 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
$152.6K $18.00/SF
− Vacancy
−$7.6K −$0.90/SF
EGI
$145.0K $17.10/SF
− OpEx
−$65.2K −$7.69/SF
NOI
$79.7K $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%
$1,594,520
Cap Rate 7%
$1,138,943
Cap Rate 9%
$885,844
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$996.6K – $1.33M
NOI $79,726 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,808 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
62
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 - Fully leased multifamily property with renovated kitchens and baths across two buildings.
Where is this apartment building located?
The property is located at 6627-6633 Park Place Hudson, NY.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 10‑unit apartment property comprising two buildings; All 10 units are fully leased; Several apartments include gut renovations, new kitchens, and new baths
