30 Lamb Avenue, Saugerties, NY 12477 (MLS# 20151511)
$1,800,000
Saugerties, NY 12477
MLS# 20151511
Status: Closed
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Property Description
Solid 22 unit apartment complex located in the Barclay Heights section of Saugerties. All units are under one roof with separate utilities, tenants have their own natural gas heat (boilers), gas hot water heaters and electric meters. Brick exterior offers very low maintenance, building has newer roof and windows, about 65% of the units have been renovated. Building is located in a residential neighborhood close to major shopping and the Village of Saugerties. Excellent tenant base of long term tenants. Assigned car port parking along with ample open parking areas. Great yard space for tenants to use. Cap rate at asking price is approximately 8%, income and expense sheet available upon request.
Details
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: Everson Ksr LLC.
Owner Phone: Call LA
Occupant Name: Tenants
Current Price: $1,800,000
Original List Price: 1800000
Sold Price: $1,800,000
Status: Closed
Listing Contract Date: 2015-04-15
Property Sub Type: Multi Family
Location, Tax, and Legal
Elementary School: Riccardi K-6
General Tax: 13101
School Tax: 21256
Tax Assessed Value: 1060000
Tax Legal Description: 14.100,7,30 Lamb Ave.
Tax Lot: 14.100
Tax Block: 7
Zoning: 02
Directions: Route 9W Saugerties take a left at Seamons Plaza, go around the building take a left onto Lamb Ave. Property is on the right.
General Property Information
Number Of Units Total: 22
Lot Size Acres: 1.449
Lot Size Dimensions: 1.449
Association YN: No
Garage YN: Yes
Attached Garage YN: No
Sign On Property YN: No
Fireplace YN: No
Year Built: 1959
Remarks and Miscellaneous
Public Remarks: Solid 22 unit apartment complex located in the Barclay Heights section of Saugerties. All units are under one roof with separate utilities, tenants have their own natural gas heat (boilers), gas hot water heaters and electric meters. Brick exterior offers very low maintenance, building has newer roof and windows, about 65% of the units have been renovated. Building is located in a residential neighborhood close to major shopping and the Village of Saugerties. Excellent tenant base of long term tenants. Assigned car port parking along with ample open parking areas. Great yard space for tenants to use. Cap rate at asking price is approximately 8%, income and expense sheet available upon request.
Status Change Information
Status Change Timestamp: 2015-10-19
Buyer Financing: Conventional
Concessions Amount: 0
Major Change Timestamp: 2015-10-15T18:38:57Z
Major Change Type: Status Change
Purchase Contract Date: 2015-09-05
Close Date: 2015-10-15
Close Price: 1800000
Appliances
Gas Water Heater: 1
Range: 1
Refrigerator: 1
Basement
Full: 1
Partial: 1
Other: 1
Book Information
Liber/Book: 4952
Page: 327
Section: 29.21
Community Features
Playground: 1
Construction Materials
Brick: 1
Frame: 1
Stone: 1
Cooling
Wall Unit(s): 1
Exterior Features
Lighting: 1
Flooring
Ceramic Tile: 1
Hardwood: 1
Other: 1
See Remarks: 1
Heating
Baseboard: 1
Hot Water: 1
Natural Gas: 1
Interior Features
Eat-in Kitchen: 1
Other: 1
Listing Terms
Lease Option: 1
Lot Features
Landscaped: 1
Level: 1
Parking Features
Assigned: 1
Driveway: 1
Off Street: 1
Parking Lot: 1
Paved: 1
Underground: 1
Other: 1
See Remarks: 1
Patio And Porch Features
Patio: 1
Plumbing
Mixed: 1
Road Surface Type
Asphalt: 1
Roof
Asphalt: 1
Shingle: 1
Security Features
Carbon Monoxide Detector(s): 1
Smoke Detector(s): 1
Sewer
Public Sewer: 1
Showing Considerations
Occupied: 1
Structure Type
Multi Family: 1
Water Source
Public: 1
Documents Available
Survey: 1
Income and Expenses
Cap Rate: 8
Electric Expense: 3250
Gross Scheduled Income: 230880
Insurance Expense: 5400
Monthly Income: 19240
Net Operating Income: 144607
New Taxes Expense: 34357
Other Expense: 18926
Other Income: 0
Supplies Expense: 6600
Total Annual Expenses: 86273
Trash Expense: 7500
Water Expense: 10240
Owner Pays
Insurance: 1
Management: 1
Repairs: 1
Taxes: 1
Trash Collection: 1
Water: 1
Other: 1
Tenant Pays
All Utilities: 1
Electricity: 1
Gas: 1
Showing Requirements
24 Hour Notice: 1
Call Listing Agent: 1
Listing Agent Must Accompany: 1
Showing Information
Showing Instructions: Call LR
Historical Information
UC Public Historical Remarks: FIPS Code: NY111, Kitchen Description: Cabinets Wood, Age: 41-60, Style: Apt. Complex, Garage/Parking Extras: 3 Car +, Lot/Site: Hamlet/village, Lease Type: One Year,Two Or More, Interior Features: Insulated Doors
Location Tax and Legal
Street Number: 30
Street Name: Lamb
Street Suffix: Avenue
State: NY
Zip Code: 12477
Town (Taxable): Saugerties-Vlg
Property Features
Appliances: Gas Water Heater; Range; Refrigerator
Basement: Full; Partial; Other
Community Features: Playground
Construction Materials: Brick; Frame; Stone
Cooling: Wall Unit(s)
Documents Available: Survey
Exterior Features: Lighting
Flooring: Ceramic Tile; Hardwood; Other; See Remarks
Heating: Baseboard; Hot Water; Natural Gas
Interior Features: Eat-in Kitchen; Other
Listing Terms: Lease Option
Lot Features: Landscaped; Level
Owner Pays: Insurance; Management; Repairs; Taxes; Trash Collection; Water; Other
Parking Features: Assigned; Driveway; Off Street; Parking Lot; Paved; Underground; Other; See Remarks
Patio And Porch Features: Patio
Plumbing: Mixed
Road Surface Type: Asphalt
Roof: Asphalt; Shingle
Security Features: Carbon Monoxide Detector(s); Smoke Detector(s)
Sewer: Public Sewer
Showing Considerations: Occupied
Structure Type: Multi Family
Tenant Pays: All Utilities; Electricity; Gas
Water Source: Public
Showing Requirements: 24 Hour Notice; Call Listing Agent; Listing Agent Must Accompany
Listing Courtesy of Win Morrison Realty-K
Listing Agent: Gregory Berardi