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45-47 Spring St 13 Unit Apartment Building $4,875,000 ($375,000/Unit) Ossining, NY 10562
INVESTMENT HIGHLIGHTS
- Value-Add Opportunity | Free Market Rents
- Ideal Location
- Turn-Key Asset
- Opportunity To Scale
EXECUTIVE SUMMARY
Northeast Private Client Group is pleased to present the exclusive opportunity to purchase 45-47 Spring Street, Ossining, NY.
45-47 Spring Street is a free market mixed-use property consisting of 12 one-bedroom apartments and a 2,829 square foot street level laundromat. All 12 apartments are free market and not subject to rent stabilization. Tenants are responsible for gas heat and hot water, and electricity. Landlord is responsible for water and sewer for the apartments, while the laundromat pays their own water and sewer.
The property was gut-renovated in 2008. At that time, all major cap-ex items were completed. Brand new HVAC and electric systems were installed, including new gas and electric meters. The entire envelope was also replaced – new roof, new siding and all new windows. All units feature modern kitchens and bathrooms, hardwood floors and imported stone throughout. This is a true turn-key property with plenty of upside in the rents. A new owner can increase rent by around 20% on average.
45-47 Spring Street is a free market mixed-use property consisting of 12 one-bedroom apartments and a 2,829 square foot street level laundromat. All 12 apartments are free market and not subject to rent stabilization. Tenants are responsible for gas heat and hot water, and electricity. Landlord is responsible for water and sewer for the apartments, while the laundromat pays their own water and sewer.
The property was gut-renovated in 2008. At that time, all major cap-ex items were completed. Brand new HVAC and electric systems were installed, including new gas and electric meters. The entire envelope was also replaced – new roof, new siding and all new windows. All units feature modern kitchens and bathrooms, hardwood floors and imported stone throughout. This is a true turn-key property with plenty of upside in the rents. A new owner can increase rent by around 20% on average.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $4,875,000 | Building Class | C |
| Price Per Unit | $375,000 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 12,142 SF |
| No. Units | 13 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 1917 |
| Apartment Style | Mid-Rise | ||
| Zoning | R | ||
| Price | $4,875,000 |
| Price Per Unit | $375,000 |
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 12,142 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built | 1917 |
| Zoning | R |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
SITE AMENITIES
- Laundry Facilities
- Gas Range
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Walking/Biking Trails
- Public Transportation
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Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 4203-089-019-00000-000-0084-000-0-4 | Improvements Assessment | $1,198,000 |
| Land Assessment | $272,400 | Total Assessment | $1,470,400 |
PROPERTY TAXES
Parcel Number
4203-089-019-00000-000-0084-000-0-4
Land Assessment
$272,400
Improvements Assessment
$1,198,000
Total Assessment
$1,470,400
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45-47 Spring St
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