14 Chatham Street - Nassau, NY 12123
$999,900
- MLS # 202627395
- 16 days on the market
Description:
INVESTOR ALERT! This fantastic property is a great money maker, with a 9+ Cap Rate! Eight fully rented units in four buildings on a one-acre village lot with approximately 122,500 thousand in annual gross income. Village-approved plans and permits are already in place to convert the garage into two two-bedroom apartments along with County-approved septic plans. Additional septic plans allow for the possible conversion of the unfinished basement into another 2-bedroom apartment pending town approval. Recent improvements include new siding on all buildings, new or recoated roofs, and four new electric services. 6 of the 8 units have been renovated; kitchens, baths, appliances, lighting, water heaters, vinyl plank flooring, and freshly painted. The property includes two up-and-down duplexes and two side-by-side duplexes. The lot extends from Chatham Street to Johns Street, with the Rail Trail near the rear entrance and village shops and restaurants close by. Buyers should verify income, expenses, approvals, and expansion potential. 10 minutes to East Greenbush. 20 minutes to Rensselaer and downtown Albany.
Property Details:
- Acres: 1
- Above Ground Square Feet: 6558
- Town: Nassau
- Property Type: Commercial
- School District: East Greenbush
- Estimated Taxes: $8,107
- Water: Public
- Sewer: Shared Septic
- Heat: Baseboard, Electric, Forced Air, Oil
- Property Style: Multiple Dwelling Unit
- Basement: Full, Unfinished
- Exterior: Frame, Block, Drywall, Vinyl Siding
- Exterior Features: None
- County: Rensselaer
- Cooling: None
- Parking Spaces: 20
- Zoning: Multi Residence
- Interior Features: High Speed Internet, Paddle Fan
-- Information Is Not Guaranteed --
We have vacationed in Lake George and enjoyed it very much. On our last trip this fall we decided to investigate property in the area. Lucky for us, Holly was in the office that day. She showed us a lovely home overlooking the lake that we subsequently purchased. Holly’s relaxed approached to selling, along with her frank presentation of potential problems with an older home, gave us a true picture of what to expect. She has helped us every step of the way and we can rely on her to give good advice about the local area. When you are from out of town, Holly makes you feel you have an old friend in Bolton Landing.