The Olbiston Apartment Building
1431 Genesee Street, Utica, NY 13501
$1,250,000
151
142,560 SF
$8,278.15
Multifamily
Mid/High-Rise
Investment
8%
80%
5
1890
2 AC
-
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Last Verified 1/12/2010
Listing ID 16322699
Highlights
151 Units- Bus stop on site
- Asbestos remediation of basement completed in June 2009
- Parking area is expandable to accomodate 100 +- cars
- Stone exterior, steel and pured concrete structure
- 70 balconies
Description
The Olbiston Apartment building is a 151 unit architectural treasure set along a tree-lined boulevard less than one-mile from the heart of downtown Utica. Located on main bus line with covered bus stop on-site. Zoned O-A (office - apartment) and in addition to residential tenants, building currently has law firm as tenant on first floor. Site includes 3 contiguous tax parcels. Site can accommodate 100+- cars.
* * * See attached OFFERING MEMORANDUM for detailed information * * *
* * * See attached OFFERING MEMORANDUM for financial information * * *
* * * See attached OFFERING MEMORANDUM for site information * * *
Set on Genesee Street, less than one mile southwest of downtown Utica.
Proforma
$100,000
| Description | No. Units | Avg. Mo. Rent | Sq. Ft. |
|---|
| Efficiency | 35 | $435 | 423 |
| 1 Bedroom | 70 | $463 | 750 |
| 2 Bedroom | 38 | $533 | 823 |
| 3 bedroom | 8 | $700 | 1,540 |
Map of 1431 Genesee Street, Utica, NY 13501 (Oneida County)
Brokerage Firm
CB Richard Ellis
Created 7/18/2009
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.