5 Phillips St Amsterdam, NY 12010

Property Details for 5 Phillips St

Property type

Residential income homes

Description

This exceptional investment opportunity presents a stabilized, 16-unit single-family rental portfolio located in Amsterdam, NY. Comprising eight buildings, this portfolio boasts a remarkable 100% occupancy rate and a substantial net operating income (NOI) of $219,000, translating to a compelling 10% capitalization rate. The portfolio's asking price is $2,200,000, with each unit priced at $137,500. All units underwent complete renovations in 2023, eliminating the need for immediate capital expenditures. The properties are strategically situated across multiple addresses within the 12010 zip code of Amsterdam, New York, offering a diversified investment with consistent cash flow. This turnkey investment is ideal for those seeking immediate returns and a strong, stable income stream. The portfolio's eight buildings range in size from one-family to four-family units, providing a diverse mix of rental options. This is a rare opportunity to acquire a fully occupied, recently renovated multifamily portfolio in a desirable location with significant upside potential. The properties are conveniently located in Amsterdam, NY, offering easy access to local amenities and transportation. This portfolio represents a secure and profitable investment opportunity with excellent long-term growth prospects.