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221-225 Allen St

Hudson, NY 12534

$525,000

Apartments For Sale  •  3,498 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 3,498 Sq Ft
  • Lot Size 0.15 ac
  • Building Class B
  • Year Built 1900
  • Cap Rate 8.88 %
  • Zoning R-4 Three Story Multiple
0 Transit Score
79 Walk Score

Description

Massive six unit apartment building on beautiful tree-lined Allen Street. Building is a fixer upper, but all six units are occupied and functioning. All tenants are month to month and pay their own heat. Update the units and keep as a six unit, or convert the property back to the deluxe two family it once was. Great AirBnB possibilities as well. Polish this gem and help complete the renaissance of this block in Hudson. 2 blocks to Amtrak and close to everything Hudson has to offer. Great Catskill views.

This property is in Hudson's Historic District and may qualify for Historic Preservation Tax Credits of up to 1/3 of your construction cost and is also located in an Opportunity Zone which has even great benefits than a 1031K Exchange. - Properties purchased with or restored with capital gains and held for ten years or more, can have capital gains taxes completely eliminated (speak with you accountant to confirm if you and this property are eligible).

Highlights

Two blocks to the Hudson Amtrak Station
Sits just above an area of Hudson in the midst of a major redevelopment.
Just up a public staircase from The Wick, Hudson's new 55 room hotel. A new grand staircase is in the works and is funded.

Financial Summary (Actual)

Net Operating Income: $46,711 (2017)
Cap Rate: 8.88 %
Total Expenses: $12,569

Amenities

  • Vintage Building
  • Yard
  • Public Transportation

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 4
Type: Surface
Included in Rent: Yes
Victor Mendolia 518-751-4444 TKG The Kinderhook Group Hudson
Victor Mendolia 518-751-4444 TKG The Kinderhook Group Hudson