For developers and investors: A beautiful 10-unit, 3-story brick building at a great location in Amsterdam, NY. Close to an exit of Highway 5; ideal for long-term or short-term lease. It needs a complete renovation, but a full set of architectural drawings is available with the sales. The plan includes two 4-bedroom units, six 2--bedroom units, and two 1-bedroom units in the building. The current owner has other business to run and is sorry to let go this development opportunity. Rough estimate/forecast: Total Construction Cost: $200k - $250k Annual Gross Income of 10 Units? Rental: $90k Cap Rate: 15% or higher
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
