6 Unit Multi-Family

East Chatham, NY (Columbia County)

View from the Street

Asking Price:$259,500

Gross Revenue:$48,000

Price/Sq. Ft.:$43.00

NOI:N/A

Building Sq. Ft.:6,500

FF&E:N/A

Year Built:1950

6 Unit Multi-Family

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Property Description

Located on Route 295 in the hamlet of East Chatham, this fully occupied Six (6) Unit investment property is a money maker. There is a main house with 5 rental units and a 2 bedroom ranch-style house. The tenants pay for their own heat and electric. New Thermopane windows were installed in 2013 and a new septic system was installed in 2012. Total gross monthly income is $4,000. or $48,000 per year. Monthly expenses, including real estate taxes, are approximately $800 per month or $10,000+/- per year.

Here is the description of the units:
RENTAL UNITS

2Bed/1Bath - Main House - $700 per month
1Bed/1Bath - Main House - $600 per month
1Bed/1Bath - Main House - $600 per month
1Bed/1Bath - Main House - $525 per month
Office/1Bath - Main House - $600 per month
2Bed/1Bath-SingleFamilyHome-$975 per month (includes 1-car garage)
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• TOTAL INCOME: $4,000. per month

MONTHLY EXPENSES:

$450. – Real Estate Taxes
$175. – Insurance
$70. – Propane (for Hot Water)
$35. - Electric
$75 - Miscellaneous - small repairs
-----------
$800 Total Monthly Expenses

MONTHLY NET INCOME: $3,200.

ANNUAL NET INCOME: $38,000+/-

Detailed Information

Type:
Multi-Family
Building Sq. Ft.:
6,500
Building Status:
Established
Facilities:
Property consists of a five family unit and a single family ranch-style home. Tenants pays their own heat and electric.
Current Property Expenses:
Monthly expenses $450. - Real Estate Taxes $175. - Insurance $70 - Gas Hot Water $35. - Electric for common areas $75. - Misc Repairs ----------------------- $800. Total
Location Description:
Located in a semi-rural area a few miles outside of the upscale village lof Chatham.
Current and Prior Use:
Multi-Family property.

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John Wallace

Property Listed By:
John Wallace

The Gray Rider Real Estate Company, LLC

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