Multifamily
586 Old Route 23
586 Old Rte 23, Cairo, NY 12413
Listing Price: $2,500,000
Investment Overview
Marcus & Millichap is pleased to offer the following opportunity located at 586 Old Route 23 in Cairo, New York (Greene County). This property is situated on approximately 4.7 acres and made up of three buildings, comprised of 20 total apartments. The unit breakdown consist of eight (8) studio apartments, five (5) 1-bedroom apartments, five (5) 2-bedroom apartments and two (2) three-bedroom apartments.
586 Old Route 23
Investment Highlights
- 3 buildings situated on approximately 4.7 acres for a total 20 apartments with ample on-site parking.
- At the Crossroads of the Catskills, Cairo is a rural community in Greene County, located about 35 miles South of Albany and ten miles West of the Hudson River.
- Current ownership has renovated 10 out of the 20 apartments demonstrating a value-add strategy to renovate and raise rents on the remaining 10 apartments.
- 100% Free Market opportunity allowing investors to capture immediate upside in rent.
- 100% occupied proving rental demand with limited competing rental inventory on the market.
- Asking $125,000/ unit, 8.5% Cap Rate in place allowing for positive leverage.
Exclusively Listed By
Financing By
Listing Price: $2,500,000
Investment Highlights
- 3 buildings situated on approximately 4.7 acres for a total 20 apartments with ample on-site parking.
- At the Crossroads of the Catskills, Cairo is a rural community in Greene County, located about 35 miles South of Albany and ten miles West of the Hudson River.
- Current ownership has renovated 10 out of the 20 apartments demonstrating a value-add strategy to renovate and raise rents on the remaining 10 apartments.
- 100% Free Market opportunity allowing investors to capture immediate upside in rent.
- 100% occupied proving rental demand with limited competing rental inventory on the market.
- Asking $125,000/ unit, 8.5% Cap Rate in place allowing for positive leverage.
Investment Overview
Marcus & Millichap is pleased to offer the following opportunity located at 586 Old Route 23 in Cairo, New York (Greene County). This property is situated on approximately 4.7 acres and made up of three buildings, comprised of 20 total apartments. The unit breakdown consist of eight (8) studio apartments, five (5) 1-bedroom apartments, five (5) 2-bedroom apartments and two (2) three-bedroom apartments.
Exclusively Listed By
Financing By
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