20 Elm St - 20 Elm Street | Hoosick Falls, NY 3 Unit Apartment Building Offered at $84,900 Hoosick Falls, NY 12090

3-Unit Value-Add Multifamily Opportunity | 26.6% Pro Forma Cap Rate | $84,900 Asking Price
20 Elm Street presents a compelling value-add multifamily investment opportunity in Hoosick Falls, NY, located in Rensselaer County near the Vermont border and the regional Route 22 / Route 7 corridor. Priced at $84,900, this vacant 3-unit residential income property offers an exceptionally low basis of approximately $28,300 per unit and $30.32 per building square foot, with projected stabilized income supporting a 26.6% pro forma cap rate.
The property consists of approximately 2,800 SF with three apartments, including two 1-bedroom units on the first floor and a larger upper-floor unit with attic-access upside. Current pro forma rents total $3,250 per month / $39,000 annually, with projected NOI of $23,161 after vacancy and operating expenses. The property is currently vacant and requires full renovation, allowing a new owner to control the renovation scope, reposition the asset, and lease all units at market rents upon completion.
Key investment strengths include the property’s corner-lot visibility at Elm & Church Street, public water and sewer, full basement, off-street parking for up to five vehicles including an attached garage, and low 2026 property taxes of $3,428 per year, all of which support long-term operating efficiency and cash flow. The building’s location near downtown Hoosick Falls, Bennington, VT, local employment, schools, and regional transportation corridors provides a practical tenant-demand base for affordable rental housing.
This is an ideal opportunity for investors, contractors, owner-operators, or small multifamily buyers seeking a low-entry-price asset with significant repositioning upside. The property is being offered cash / as-is, and a quick close is preferred. Buyer to conduct independent due diligence and verify all financial projections, property condition, rents, expenses, zoning, and renovation requirements.
Financial Snapshot:?
Asking Price: $84,900
Units: 3
Building Size: 2,800 SF
Pro Forma Gross Scheduled Rent: $39,000/year
?Pro Forma Effective Gross Income: $36,075/year
?Pro Forma NOI: $23,161/year?
Pro Forma Cap Rate: 26.6%
?GRM: 2.18x
?Price / Unit: $28,300
?Price / SF: $30.32?
2026 Taxes: $3,428/year
Investment Highlights:?
• Vacant 3-unit multifamily asset ready for full repositioning?
• 26.6% projected pro forma cap rate at asking price?
• Extremely low basis: $28,300 per unit
?• Low annual property taxes support future cash flow?
• Corner lot at Elm & Church Street with strong visibility?
• Public water and sewer?
• Five off-street parking spaces including attached garage?
• Full basement and attic-access upside?
• Near Bennington, VT, Route 22, Route 7, and the Greater Capital Region?
• Cash / as-is sale structure for a streamlined transaction