Current Use by Public Records
- Apartment buildings
Property Details for 3093 Route 9
- Lot size
- 9.10 lot acres
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity encompasses a 28-unit complex situated on a sprawling 9.1-acre lot in Valatie, NY. The property, which includes a renovated 4-bedroom single-family residence with an attached office and modern business center featuring fiber-optic high-speed Wi-Fi, boasts a diverse mix of apartment units and motel rooms. The complex underwent extensive renovations in 2023, exceeding $400,000 in improvements. These upgrades included major electrical and fiber-optic Wi-Fi infrastructure enhancements, a new keyless entry system, a comprehensive security camera system, HVAC unit replacements, and apartment unit updates featuring new appliances, carpeting, paint, and bathroom renovations. The property also benefits from a significant amount of landscaped acreage, presenting potential for future development. The convenient location on Route 9, near Albany and Hudson, NY, makes it an attractive destination for both tourism and extended-stay housing. The property's strong financial performance is reflected in its 9.61% cap rate and $113.33 price per square foot. The asking price is $3,890,000, with a price per unit of $74,808. The property is zoned B1- Business Agriculture and offers a compelling return on investment. Specific improvements include new siding and chimney on the main house, complete kitchen and bathroom renovations, new flooring, and updated electrical systems throughout. Motel units received keyless entry, security system upgrades, and interior repainting. Apartment buildings saw carpet replacements, electrical heater upgrades, and bathroom/kitchen renovations in select units. The property also features new commercial laundry facilities and septic system upgrades across all buildings. Landscaping improvements include tree removal and planting.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Valatie
- County
- Columbia
- State
- New York
- Longitude
- -73.6883
- Latitude
- 42.4355
