27-33 Firehouse LnRed Hook, NY 12571

Exceptional investment opportunity: Knollwood Commons, a Class A, 36-unit apartment building in Red Hook, NY, is offered for sale at $12,750,000. This modern complex, built in phases starting in 2015, boasts 72,400 square feet of net rentable space, translating to a price per square foot of $176.10 and a price per unit of $354,167. The property consistently maintains 100% occupancy, with weekly inquiries exceeding available units. The building comprises a mix of one- and two-bedroom apartments and three-bedroom townhouses, all featuring in-unit laundry. Townhouses also include attached garages and full basements. Eight ground-floor commercial spaces add to the property's income potential. Situated in a thriving family community, Knollwood Commons benefits from a world-class public school system and proximity to numerous public amenities. Its convenient location, five miles from both the NYS Thruway in Kingston and the Taconic Parkway exchange at 199, enhances its appeal. The well-maintained grounds include a sidewalk system connecting to the village's shops and restaurants, offering residents walkable access to local businesses. This property presents a compelling prospect for long-term investors or those seeking a 1031 exchange, with rents currently reasonable and significant upside potential. Financial details are available upon request. The property is located at 27-33 Firehouse Ln, Red Hook, NY 12571.