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S Seventh Street & Cherry Aly

Hudson, NY 12534

$325,000

Apartments For Sale  •  4,050 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 4,050 Sq Ft
  • Lot Size 0.03 ac
  • Year Built 1925
  • Cap Rate 8.71 %
  • Zoning CC - Central Commercial
0 Transit Score
83 Walk Score

Description

Situated at the corner of South 7th Street and Cherry Alley. Cherry Alley runs behind Warren Street and Union Street. The property currently houses four apartment units, all of which are paying below market rents. The property is in the CC (Central Commercial) district which allows for a great of of commercial, professional  and retail uses. Less than 100 feet from what is most likely Hudson's busiest intersection, Warren Street and 7th Street. The property is literally steps away from Warren Street, Hudson's Public Square (aka 7th St Park), Rivertown Lodge and more. It is also across the street from Governor's Tavern

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 (You MUST speak with you accountant to confirm if you and this property are eligible).

Highlights

Steps away from Warren Street on an up & coming commercial side street.
Possible live/work situation.
Residential rentals doing $28k annual net operating income as-is.
Retail, commercial, residential or a combination are all allowed uses in this district.
In Opportunity Zone and may also qualify for historic preservation tax credits of up to 1/3 of construction costs.

Property Flyers

Financial Summary (Actual)

Net Operating Income: $29,502 (2017)
Cap Rate: 8.71 %
Total Expenses: $9,603

Amenities

  • Vintage Building
  • Hardwood Floors
  • Vinyl Flooring
Victor Mendolia 518-751-4444 TKG The Kinderhook Group Hudson
Victor Mendolia 518-751-4444 TKG The Kinderhook Group Hudson