161 Market Street, Saugerties, NY 12477 (MLS# 20154432)
$2,100,000
Saugerties, NY 12477
MLS# 20154432
Status: Closed
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Property Description
Know as the Clermont Apartments, this 25 unit complex is located in the center of the quaint Village of Saugerties just off NYS Thruway Exit 20, 2 hours from NYC. Solid brick building may have originally been built as a nursing home. Grand columns and steel fencing grace the front of the property as you enter. All hallways are wide and air-conditioned, an elevator is centered right off the main entry foyer. This two story building offers a mix of one and two bedroom apartments, first floor units have their own patio and entry door, second floor units have their own deck. There is a large catering room measuring +/- 2,000 square feet perfect for a nursing home, senior residence or additional apartments with town approvals, attached is a fully plumbed area set up for a kitchen facility. Full basement has a laundry facility and storage units for tenants. Roof and windows have been replaced in the last 5 years. Current rents are well below market, please call Listing Agent for full income and expense sheet.
Details
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: Garcia Y Lada LLC
Owner Phone: Call LA
Current Price: $2,100,000
Original List Price: 2200000
Sold Price: $2,100,000
Status: Closed
Listing Contract Date: 2015-09-09
Property Sub Type: Mixed Use
Location, Tax, and Legal
General Tax: 8965
School Tax: 19551
Tax Assessed Value: 975000
Tax Legal Description: 43,7,161 Market St
Tax Lot: 43
Tax Block: 7
Zoning: R-3
Directions: From NYS Thruway Exit 20 Saugerties, take Route 212 (Main St) East toward Village, take a Left on Market St, building on Right, see Brick Pillars
General Property Information
Number Of Units Total: 0
Lot Size Acres: 1.2
Lot Size Dimensions: irregular
Sign On Property YN: Yes
Year Built: 1976
Remarks and Miscellaneous
Public Remarks: Know as the Clermont Apartments, this 25 unit complex is located in the center of the quaint Village of Saugerties just off NYS Thruway Exit 20, 2 hours from NYC. Solid brick building may have originally been built as a nursing home. Grand columns and steel fencing grace the front of the property as you enter. All hallways are wide and air-conditioned, an elevator is centered right off the main entry foyer. This two story building offers a mix of one and two bedroom apartments, first floor units have their own patio and entry door, second floor units have their own deck. There is a large catering room measuring +/- 2,000 square feet perfect for a nursing home, senior residence or additional apartments with town approvals, attached is a fully plumbed area set up for a kitchen facility. Full basement has a laundry facility and storage units for tenants. Roof and windows have been replaced in the last 5 years. Current rents are well below market, please call Listing Agent for full income and expense sheet.
Status Change Information
Status Change Timestamp: 2016-08-09
Buyer Financing: Cash
Concessions Amount: 0
Major Change Timestamp: 2016-08-05T23:47:53Z
Major Change Type: Status Change
Purchase Contract Date: 2016-05-05
Close Date: 2016-08-05
Close Price: 2100000
Appliances
Electric Water Heater: 1
Water Heater: 1
Basement
Full: 1
Partial: 1
Book Information
Liber/Book: 3919
Page: 35
Section: 18.54
Cooling
Ceiling Fan(s): 1
Central Air: 1
Wall Unit(s): 1
Electric
200+ Amp Service: 1
Flooring
Carpet: 1
Ceramic Tile: 1
Heating
Baseboard: 1
Electric: 1
Forced Air: 1
Natural Gas: 1
Listing Terms
Lease Option: 1
Lot Features
Landscaped: 1
Level: 1
Sewer
Public Sewer: 1
Showing Considerations
Occupied: 1
Income and Expenses
Cap Rate: 7
Electric Expense: 19135
Fuel Expense: 19135
Gross Income: 26750
Gross Scheduled Income: 288000
Insurance Expense: 11216
Manager Expense: 6000
Net Operating Income: 160213
New Taxes Expense: 34718
Other Expense: 16047
Total Annual Expenses: 127787
Trash Expense: 3548
Water Expense: 7201
Showing Requirements
24 Hour Notice: 1
Appointment Only: 1
Call Listing Agent: 1
Showing Information
Showing Instructions: Call Greg 845-389-7895
Historical Information
UC Public Historical Remarks: Garage/Parking Extras: DRIVEWAY,LOT-PAVED,OFF STREET, Age: 21-40, Lease Type: Month To Month,One Year, Lot/Site: Hamlet/village
Location Tax and Legal
Street Number: 161
Street Name: Market
Street Suffix: Street
State: NY
Zip Code: 12477
Town (Taxable): Saugerties-Town
Property Features
Appliances: Electric Water Heater; Water Heater
Basement: Full; Partial
Cooling: Ceiling Fan(s); Central Air; Wall Unit(s)
Electric: 200+ Amp Service
Flooring: Carpet; Ceramic Tile
Heating: Baseboard; Electric; Forced Air; Natural Gas
Listing Terms: Lease Option
Lot Features: Landscaped; Level
Sewer: Public Sewer
Showing Considerations: Occupied
Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent
Listing Courtesy of Win Morrison Realty-K
Listing Agent: Gregory Berardi