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Brookwood Apartments 650 W German St 31 Unit Apartment Building $750,000 ($24,194/Unit) Herkimer, NY 13350
Investment Highlights
- https://bracketre.com/listing/d25df389-149f-4011-9bfc-eec5270e0419
- Diverse Income Model: Features a robust mix of residential, commercial, and amenity-based revenue streams, including a restaurant, convenience store,
- Opportunity Zone Benefits: Located within a designated Opportunity Zone, providing significant tax advantages for long-term investors
- Strategic Location: Centrally located in Herkimer, NY, specifically catering to the student population of nearby institutions like Herkimer CC
- High-Occupancy Infrastructure: A 36,500 SF masonry building with an elevator, 24-hour access, and a total capacity for 57 students.
- Parking Advantage: Features a 1.29/bed parking ratio (40 surface spaces), a rare and valuable competitive edge in the local student housing market
Executive Summary
Access Due Diligence for 650 W German St. at https://bracketre.com/listing/d25df389-149f-4011-9bfc-eec5270e0419
Brookwood Apartments at 650 W German St. represents a premier student housing and mixed-use investment opportunity in the heart of Herkimer, NY. This 36,500-square-foot masonry asset is strategically positioned to capture the high-demand student market while offering a robust, diversified revenue model that provides significant protection against market volatility. The property’s core residential component is designed with a 57-bed capacity across 31 units, featuring a versatile mix of seven one-bedroom units, twenty-two two-bedroom units, and large-format three and four-bedroom floor plans.
Beyond the core residential income, the property functions as a true mixed-use hub, further stabilizing the cash flow through year-round commercial and amenity-based revenue. The building features an on-site restaurant currently under a monthly lease, serving as a "sticky" anchor amenity for the student residents while providing the owner with steady, non-enrollment-dependent commercial income. Additionally, the property includes a first-floor convenience store and specialized revenue streams tied to regional baseball lodging programs, laundry, and vending services.
From an operational standpoint, Brookwood Apartments offers superior fundamentals and significant value-add potential. The 1.15-acre site features a massive parking advantage with a 1.29/bed ratio (40 surface spaces), a key competitive edge in the suburban student housing market. The building itself is a well-maintained three-story masonry structure equipped with an elevator, 24-hour access, and master-metered utilities for streamlined management.
Access Due Diligence for 650 W German St. at https://bracketre.com/listing/d25df389-149f-4011-9bfc-eec5270e0419
Brookwood Apartments at 650 W German St. represents a premier student housing and mixed-use investment opportunity in the heart of Herkimer, NY. This 36,500-square-foot masonry asset is strategically positioned to capture the high-demand student market while offering a robust, diversified revenue model that provides significant protection against market volatility. The property’s core residential component is designed with a 57-bed capacity across 31 units, featuring a versatile mix of seven one-bedroom units, twenty-two two-bedroom units, and large-format three and four-bedroom floor plans.
Beyond the core residential income, the property functions as a true mixed-use hub, further stabilizing the cash flow through year-round commercial and amenity-based revenue. The building features an on-site restaurant currently under a monthly lease, serving as a "sticky" anchor amenity for the student residents while providing the owner with steady, non-enrollment-dependent commercial income. Additionally, the property includes a first-floor convenience store and specialized revenue streams tied to regional baseball lodging programs, laundry, and vending services.
From an operational standpoint, Brookwood Apartments offers superior fundamentals and significant value-add potential. The 1.15-acre site features a massive parking advantage with a 1.29/bed ratio (40 surface spaces), a key competitive edge in the suburban student housing market. The building itself is a well-maintained three-story masonry structure equipped with an elevator, 24-hour access, and master-metered utilities for streamlined management.
Access Due Diligence for 650 W German St. at https://bracketre.com/listing/d25df389-149f-4011-9bfc-eec5270e0419
Property Facts
Amenities
Unit Amenities
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Refrigerator
- Sprinkler System
- Range
- Carpet
- Wi-Fi
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Community-Wide WiFi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 31 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 213001-120-024-0002-009-000-0000 | Improvements Assessment | $317,600 |
| Land Assessment | $82,400 | Total Assessment | $400,000 |
Property Taxes
Parcel Number
213001-120-024-0002-009-000-0000
Land Assessment
$82,400
Improvements Assessment
$317,600
Total Assessment
$400,000
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Brookwood Apartments | 650 W German St
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