Five-Unit Multifamily
For Sale
$469,000
714 Union Street, Schenectady, NY 12305
Three-story five-unit building on municipal water and sewer with off-street parking via shared driveway.
Property Size2,932 SF
Lot Size0.50 Acres
Price / SF$159.96
Days on Market356
Property Features for 714 Union Street
General Information
Standard status
Active
Size
2,932 SF
Lot size
0.50 Acres
Property subtype
Multi-family
Additional Details
Utilities to Site
Yes
Multifamily Units
5
Building Details
Year Built
1984
Stories
3
Listing Agency:
Advanced Property Management
Listed By:
Matthew H Janke · License #10401338755
(518) 708-9008
Source:
Signatureonerealtygroup
Added: Oct 29, 2025
Changed: Oct 16
Last Checked: Oct 19 at 8:44AM
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 Advanced Property Management
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Investment Insights
Based on property information with market context.
This five-unit multifamily building offers three stories of residential living space and was built in 1984. The property includes approximately 2,932 square feet of living area and sits on a 28-by-150-foot lot. Municipal water and sewer are available, and utilities are provided through public services. Off-street parking is available via a shared driveway, supporting day-to-day convenience for residents and visitors.
The building is situated along the Union Street corridor in Schenectady, a highly convenient area served by local shopping and dining. Access to a range of destinations is described as “easy reach,” including Union College, Ellis Hospital, Schenectady High School, Downtown Schenectady, and Mohawk Harbor. The property is also positioned near Yates Elementary and Oneida Middle School, with Schenectady High School noted within 2 miles or less.
Zoned for multi-family use, this asset is positioned for buyers seeking a small income-property format with municipal infrastructure and off-street parking. With its established build date and three-story configuration, it may fit investors or owner-operators looking for a straightforward multifamily ownership experience in a well-connected rental area.
The building is situated along the Union Street corridor in Schenectady, a highly convenient area served by local shopping and dining. Access to a range of destinations is described as “easy reach,” including Union College, Ellis Hospital, Schenectady High School, Downtown Schenectady, and Mohawk Harbor. The property is also positioned near Yates Elementary and Oneida Middle School, with Schenectady High School noted within 2 miles or less.
Zoned for multi-family use, this asset is positioned for buyers seeking a small income-property format with municipal infrastructure and off-street parking. With its established build date and three-story configuration, it may fit investors or owner-operators looking for a straightforward multifamily ownership experience in a well-connected rental area.
Key Highlights
- Five‑unit, three‑story multifamily building built in 1984 with approx. 2,932 SF of living space
- Zoned for multi‑family use
- 28‑by‑150‑foot lot with municipal water and sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,950
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,000
$599.0K
Cap Rate 7%
$427,857
$427.9K
Cap Rate 9%
$332,778
$332.8K
Market Conditions
NOI Build-Up for 2,932 SF
Gross rent
$58.1K $19.80/SF
− Vacancy
−$3.6K −$1.23/SF
EGI
$54.5K $18.57/SF
− OpEx
−$24.5K −$8.36/SF
NOI
$29.9K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,000
Cap Rate 7%
$427,857
Cap Rate 9%
$332,778
Alternative Uses
Best Use
Apartment 5plus
$427.9K
$374.4K – $499.2K
NOI $29,950 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$877.6K
$767.9K – $1.02M
NOI $61,431 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,963
Businesses Nearby
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story five-unit building on municipal water and sewer with off-street parking via shared driveway.
Where is this apartment building located?
The property is located at 714 Union Street Schenectady, NY.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Five‑unit, three‑story multifamily building built in 1984 with approx. 2,932 SF of living space; Zoned for multi‑family use; 28‑by‑150‑foot lot with municipal water and sewer
