8-Unit Apartment
For Sale
$1,200,000
Pending
85-87 Nelson Avenue, Ghent, NY 12075
Fully occupied apartments with two-bedroom layouts, shared laundry facilities, separate meters, and private off-street parking.
Property Size8,208 SF
Lot Size1.40 Acres
Days on Market102
Property Features for 85-87 Nelson Avenue
General Information
Standard status
Pending
Size
8,208 SF
Total Parking Spaces
20
Lot size
1.40 Acres
Property subtype
Multi-Family
Zoning
Multi Residence
Occupancy
100%
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,565
Amenities
common laundry area
Building Details
Year Built
1964
Buildings
2
Listing Agency:
Preferred Country Properties
Listed By:
Natalia De Amorim
(518) 692-6006
Source:
Capmarkrealty
Added: Jul 8
Changed: Oct 7
Last Checked: Oct 16 at 6:20AM
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 Preferred Country Properties
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Investment Insights
Based on property information with market context.
This apartment property includes two buildings with eight identical units across 1.4 acres and 8,208 square feet. Each apartment provides two bedrooms, one full bathroom, an L-shaped living and dining area, and a kitchen equipped with a stove, refrigerator, and range hood. Common laundry facilities with a washer and dryer are located in each building. The property was built in 1964 and is described as being in very good condition.
All units are occupied, with a combination of leases and month-to-month arrangements. Tenants pay rent plus utilities, and the units have separate meters. Ownership responsibilities include maintenance, lawn and snow service, and insurance. The property also offers a private asphalt parking lot. It is within walking distance of Dairy Queen, public tennis courts, a sports field, playground equipment, and the post office, with Chatham Village, schools, and the Taconic State Parkway 3 miles away.
All units are occupied, with a combination of leases and month-to-month arrangements. Tenants pay rent plus utilities, and the units have separate meters. Ownership responsibilities include maintenance, lawn and snow service, and insurance. The property also offers a private asphalt parking lot. It is within walking distance of Dairy Queen, public tennis courts, a sports field, playground equipment, and the post office, with Chatham Village, schools, and the Taconic State Parkway 3 miles away.
Key Highlights
- Two buildings with 8 identical units on 1.4 acres
- 8,208 square feet with 16 bedrooms and 8 full baths
- Each unit includes 2 bedrooms, 1 full bath, and an equipped kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,196
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,543,920
$1.5M
Cap Rate 7%
$1,102,800
$1.1M
Cap Rate 9%
$857,733
$857.7K
Market Conditions
NOI Build-Up for 8,208 SF
Gross rent
$147.7K $18.00/SF
− Vacancy
−$7.4K −$0.90/SF
EGI
$140.4K $17.10/SF
− OpEx
−$63.2K −$7.69/SF
NOI
$77.2K $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 Rate 5%
$1,543,920
Cap Rate 7%
$1,102,800
Cap Rate 9%
$857,733
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$965.0K – $1.29M
NOI $77,196 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,149 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
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Business Placement
Demographics for 12075, NY
3,135
Population
1,348
Households
2.3
Avg Household Size
50
Median Age
37%
College-Educated
88%
High-School Grad
36.3 sq mi
ZIP Area
86
Density / Sq Mi
$83,443
Median Household Income
$48,368
Median Earnings
$1,375
Median Rent
$384,700
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 - Fully occupied apartments with two-bedroom layouts, shared laundry facilities, separate meters, and private off-street parking.
Where is this apartment building located?
The property is located at 85-87 Nelson Avenue Ghent, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two buildings with 8 identical units on 1.4 acres; 8,208 square feet with 16 bedrooms and 8 full baths; Each unit includes 2 bedrooms, 1 full bath, and an equipped kitchen
