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Capital Woods Capital Woods 142 Unit Apartment Building For Sale Albany, NY 12210
Investment Highlights
- ±9.3 acres located in New York’s capital
- 10-15 minutes drive to Lark Street, Downtown Albany, St. Albany Medical Center, Peter’s Hospital, 5 college campuses, and all New York State governmen
- One minute from Exit 6 off Interstate 90
Executive Summary
Capital Woods is a residential village-style assemblage of 19 structures across a 9.3 acre tax lot, for a total of 155,756 square feet and 142 residential dwelling units. The properties are situated in the Arbor Hill neighborhood in the city of Albany, with its primary frontage facing Lark Drive, just one minute from exit 6 off Interstate 90. The City of Albany has experienced decade long population growth and is the center of a 1.17 million person metropolitan area. The project was originally built in 1971, and was renovated and restructured in 1998 using Low Income Housing Tax Credits and other funding sources. In December 2015, the partnership interest was transferred to the Albany
Housing Authority.
Housing Authority.
Property Facts
| Sale Type | Investment | Building Size | 223,978 SF |
| No. Units | 142 | Average Occupancy | 99% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1971/1998 |
| Apartment Style | Garden | Parking Ratio | 0.98/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 9.30 AC | ||
| Zoning | R-V - Residential Village (R-V) zoning district. | ||
| Sale Type | Investment |
| No. Units | 142 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 9.30 AC |
| Building Size | 223,978 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/1998 |
| Parking Ratio | 0.98/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-V - Residential Village (R-V) zoning district. |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer Hookup
- Heating
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 26 | - | - |
| 2+1 | 64 | - | - |
| 3+1 | 32 | - | - |
| 4+1 | 15 | - | - |
| 5+1 | 5 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Strong public transit
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 010100-065-015-0002-002-000-0000 | Improvements Assessment | $10,865,600 |
| Land Assessment | $649,000 | Total Assessment | $11,514,600 |
Property Taxes
Parcel Number
010100-065-015-0002-002-000-0000
Land Assessment
$649,000
Improvements Assessment
$10,865,600
Total Assessment
$11,514,600
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