87 Overlook Estates, Saugerties, NY 12477 (MLS# 20242554)
$3,250,000
Saugerties, NY 12477
MLS# 20242554
Status: Closed
18 baths | 18000 sqft
1 / 38
Property Description
Apartment complex is located in the hamlet of Glasco, and along the banks of the Hudson River (about 100 miles +/- 1 hr, 45 min from NYC). This 16 residential unit (2-storey townhouse style) complex has 2 additional commercial rentals (Large & Smaller Garage) for a total of 18-units. The property consists of 6 buildings, most of the buildings were constructed around 1989 and the one 3-unit building (that has a 1 car garage for each unit), was constructed around 2017. Each unit is in Very good condition with excellent paying tenants. All roofs, exteriors and interiors are well kept and are in newer/renovated condition. The property has municipal water, sewer and natural gas. Most rents are well below market value, and month to month rental agreements. Please see associated doc's for additional information, projected rents for 2024/25 and pro-forma rent at more fair market rents.
Details
Documents
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: Minard Farms LLC
Current Price: $3,250,000
Original List Price: 3500000
Sold Price: $3,250,000
Status: Closed
Listing Contract Date: 2024-05-30
Property Sub Type: Multi Family
Location, Tax, and Legal
Township: Saugerties
School District: Saugerties Central Schools
Elementary School: Riccardi K-6
General Tax: 12987
School Tax: 20063
Village Tax: 0
Tax Annual Amount: 33050
Tax Assessed Value: 1676500
Parcel Number: 29.47-3-9.210
Tax Lot: 9.210
Tax Block: 3
Zoning: HDR
Directions: From NYS Thruway, exit 20 Saugerties- right on rte 32-left on main to second right partition- left on hill st-left on barclay-right on burt- left on rte 32, left on glasco turnpike- right on Overlook
General Property Information
Number Of Units Total: 18
Above Grade Finished Area: 18000
Below Grade Finished Area: 0
Above Grade Unfinished Area: 0
Below Grade Unfinished Area: 0
Lot Size Acres: 2.3
Lot Size Dimensions: 2.3 acres
Association YN: No
New Construction YN: No
Garage YN: Yes
Attached Garage YN: No
Garage Spaces: 5
Waterfront YN: No
Water Body Name: HUDSON RIVER
Flood Plain YN: No
Sign On Property YN: No
Disclaimer: The listing broker's offer of compensation is made only to participants of the Hudson Valley Catskill Region MLS.
Basement YN: Yes
Stories: 2
Fireplace YN: No
Wood Stove YN: No
Units Furnished: None
Rent Control YN: No
List Price/SqFt: 194.44
Sold Price/SqFt: 180.56
Bathrooms Total: 18
Living Area: 18000
Year Built: 1989
Remarks and Miscellaneous
Public Remarks: Apartment complex is located in the hamlet of Glasco, and along the banks of the Hudson River (about 100 miles +/- 1 hr, 45 min from NYC). This 16 residential unit (2-storey townhouse style) complex has 2 additional commercial rentals (Large & Smaller Garage) for a total of 18-units. The property consists of 6 buildings, most of the buildings were constructed around 1989 and the one 3-unit building (that has a 1 car garage for each unit), was constructed around 2017. Each unit is in Very good condition with excellent paying tenants. All roofs, exteriors and interiors are well kept and are in newer/renovated condition. The property has municipal water, sewer and natural gas. Most rents are well below market value, and month to month rental agreements. Please see associated doc's for additional information, projected rents for 2024/25 and pro-forma rent at more fair market rents.
Status Change Information
Status Change Timestamp: 2025-02-05
Buyer Financing: Cash
Major Change Timestamp: 2025-02-05T14:21:19Z
Major Change Type: Status Change
Purchase Contract Date: 2024-10-01
Close Date: 2025-01-31
Close Price: 3250000
Appliances
Dishwasher: 1
Electric Water Heater: 1
Range: 1
Refrigerator: 1
Attic Features
Pull-Down Stairs: 1
Other: 1
Basement
Full: 1
Partial: 1
Storage Space: 1
Unfinished: 1
Book Information
Liber/Book: 5874
Page: 200
Section: 29.47
Community Features
Playground: 1
Other: 1
Construction Materials
Frame: 1
Vinyl Siding: 1
Cooling
Ceiling Fan(s): 1
Ductless: 1
None: 1
Electric
100 Amp Service: 1
200+ Amp Service: 1
Exterior Features
Garden: 1
Lighting: 1
Flooring
Carpet: 1
Ceramic Tile: 1
Hardwood: 1
Luxury Vinyl: 1
Vinyl: 1
Foundation Details
Block: 1
See Remarks: 1
Frontage Type
See Remarks: 1
Heating
Baseboard: 1
Central: 1
Ductless: 1
Electric: 1
Forced Air: 1
Hot Water: 1
Natural Gas: 1
Interior Features
Breakfast Bar: 1
Eat-in Kitchen: 1
Kitchen Island: 1
Pantry: 1
Walk-In Closet(s): 1
Other: 1
Laundry Features
Electric Dryer Hookup: 1
In Unit: 1
Inside: 1
Laundry Room: 1
Washer Hookup: 1
Lot Features
Garden: 1
Gentle Sloping: 1
Landscaped: 1
Level: 1
Other: 1
See Remarks: 1
Other Structures
Second Garage: 1
Other: 1
See Remarks: 1
Parking Features
Driveway: 1
Off Street: 1
Parking Lot: 1
Paved: 1
Other: 1
See Remarks: 1
Patio And Porch Features
Deck: 1
Porch: 1
See Remarks: 1
Plumbing
Mixed: 1
Road Frontage Type
County Road: 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
Utilities
Cable Available: 1
Cable Connected: 1
Electricity Available: 1
Electricity Connected: 1
Natural Gas Available: 1
Natural Gas Connected: 1
Phone Available: 1
Sewer Available: 1
Sewer Connected: 1
Water Available: 1
Water Connected: 1
Underground Utilities: 1
View
River: 1
Water Source
Public: 1
Window Features
Double Pane Windows: 1
Documents Available
Rent Roll: 1
Income and Expenses
Cap Rate: 8
Electric Expense: 600
Gross Income: 364800
Gross Scheduled Income: 364800
Insurance Expense: 9948
Maintenance Expense: 10615
Monthly Income: 364800
Net Operating Income: 280624
New Taxes Expense: 33050
Operating Expense: 73231
Other Income: 0
Sewer Expense: 4225
Total Actual Rent: 364800
Total Annual Expenses: 73231
Trash Expense: 4800
Vacancy Allowance: 3
Vacancy Allowance Rate: 10944
Water Expense: 4225
Owner Pays
Grounds Care: 1
HVAC Maintenance: 1
Insurance: 1
Repairs: 1
Sewer: 1
Snow Removal: 1
Taxes: 1
Trash Collection: 1
Water: 1
Other: 1
See Remarks: 1
Tenant Pays
All Utilities: 1
Cable TV: 1
Electricity: 1
Gas: 1
Hot Water: 1
See Remarks: 1
Showing Requirements
24 Hour Notice: 1
Appointment Only: 1
Listing Agent Must Accompany: 1
See Remarks: 1
Showing Information
Showing Instructions: showingtime 48 hr
Location Tax and Legal
Street Number: 87
Street Name: Overlook
Street Suffix: Estates
County: Ulster
State: NY
Zip Code: 12477
Town (Taxable): Saugerties-Town
Property Features
Appliances: Dishwasher; Electric Water Heater; Range; Refrigerator
Attic Features: Pull-Down Stairs; Other
Basement: Full; Partial; Storage Space; Unfinished
Community Features: Playground; Other
Construction Materials: Frame; Vinyl Siding
Cooling: Ceiling Fan(s); Ductless; None
Documents Available: Rent Roll
Electric: 100 Amp Service; 200+ Amp Service
Exterior Features: Garden; Lighting
Flooring: Carpet; Ceramic Tile; Hardwood; Luxury Vinyl; Vinyl
Foundation Details: Block; See Remarks
Frontage Type: See Remarks
Heating: Baseboard; Central; Ductless; Electric; Forced Air; Hot Water; Natural Gas
Interior Features: Breakfast Bar; Eat-in Kitchen; Kitchen Island; Pantry; Walk-In Closet(s); Other
Laundry Features: Electric Dryer Hookup; In Unit; Inside; Laundry Room; Washer Hookup
Lot Features: Garden; Gentle Sloping; Landscaped; Level; Other; See Remarks
Other Structures: Second Garage; Other; See Remarks
Owner Pays: Grounds Care; HVAC Maintenance; Insurance; Repairs; Sewer; Snow Removal; Taxes; Trash Collection; Water; Other; See Remarks
Parking Features: Driveway; Off Street; Parking Lot; Paved; Other; See Remarks
Patio And Porch Features: Deck; Porch; See Remarks
Plumbing: Mixed
Road Frontage Type: County Road
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; Cable TV; Electricity; Gas; Hot Water; See Remarks
Utilities: Cable Available; Cable Connected; Electricity Available; Electricity Connected; Natural Gas Available; Natural Gas Connected; Phone Available; Sewer Available; Sewer Connected; Water Available; Water Connected; Underground Utilities
View: River
Water Source: Public
Window Features: Double Pane Windows
Showing Requirements: 24 Hour Notice; Appointment Only; Listing Agent Must Accompany; See Remarks
County Records 
survey 
Listing Courtesy of Berardi Realty
Listing Agent: Gregory Berardi