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Ridge Manor Court Ridge Manor Court 15 Unit Apartment Building $5,000,000 ($333,333/Unit) 5.07% Cap Rate Niskayuna, NY 12309
Investment Highlights
- Cul-de-sac location
- Award winning Schools
- Value Adds- Newer Construction, Increase rents possible-increase value, underdeveloped per current zoning
Executive Summary
Exceptional opportunity to own a newer, fully occupied townhouse community in the highly desirable town of Niskayuna, New York. Strategically located near major employers such as Knolls Atomic Power Laboratory and GE Global Research, Niskayuna is a national hub for engineering, scientific, energy, and defense research.
This award-winning community sits on a 3-acre parcel zoned for 30 units, with 15 units currently constructed. Built in November 2019, the property benefits from modern construction and strong tenant demand. Strict tenant screening and income requirements ensure a high-quality resident base. Currently 100% occupied.
Investors will appreciate the value-add potential through rental increases and future development opportunities. Conveniently located 9.3 miles from Albany International Airport, 23 miles from Saratoga Springs, 55 miles from Lake George, and just a 3-hour train ride to Midtown Manhattan, this property offers both stability and long-term growth potential. NDA attached - 3 bedroom, 2.5 bath with attached garage. C/A, Granite Countertop w/stainless steel appliances. 9Ft ceilings first floor. No carpeting-Rear Patio for each unit
This award-winning community sits on a 3-acre parcel zoned for 30 units, with 15 units currently constructed. Built in November 2019, the property benefits from modern construction and strong tenant demand. Strict tenant screening and income requirements ensure a high-quality resident base. Currently 100% occupied.
Investors will appreciate the value-add potential through rental increases and future development opportunities. Conveniently located 9.3 miles from Albany International Airport, 23 miles from Saratoga Springs, 55 miles from Lake George, and just a 3-hour train ride to Midtown Manhattan, this property offers both stability and long-term growth potential. NDA attached - 3 bedroom, 2.5 bath with attached garage. C/A, Granite Countertop w/stainless steel appliances. 9Ft ceilings first floor. No carpeting-Rear Patio for each unit
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,000,000 | Apartment Style | Townhome |
| Price Per Unit | $333,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 3.04 AC |
| Cap Rate | 5.07% | Building Size | 25,459 SF |
| Gross Rent Multiplier | 12.9 | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2019 |
| Property Subtype | Apartment | ||
| Zoning | R3 - 3 Acre Zoned Multi-family. 30 Units allowed, however 15 constructed. Paper Road with no tax ID borders left side of property. | ||
| Price | $5,000,000 |
| Price Per Unit | $333,333 |
| Sale Type | Investment |
| Cap Rate | 5.07% |
| Gross Rent Multiplier | 12.9 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 3.04 AC |
| Building Size | 25,459 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2019 |
| Zoning | R3 - 3 Acre Zoned Multi-family. 30 Units allowed, however 15 constructed. Paper Road with no tax ID borders left side of property. |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Fireplace
- Microwave
- Washer/Dryer
- Heating
- Double Vanities
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Wi-Fi
- Yard
- Breakfast Nook
- Double Pane Windows
- Family Room
- Garden
- Island Kitchen
- Lawn
- Linen Closet
- Mud Room
- Pantry
- Patio
- Porch
- Smoke Free
- Window Coverings
- Quartz Countertops
Site Amenities
- Smoke Free
- Trash Pickup - Curbside
- Wi-Fi
- Community-Wide WiFi
- Individual Locking Bedrooms
- Private Bathroom
- Fiber Optic Internet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 15 | - | 1,440 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 422400 40.5-1-21 | Total Assessment | $1,600,000 (2024) |
| Land Assessment | $150,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,450,000 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
422400 40.5-1-21
Land Assessment
$150,000 (2024)
Improvements Assessment
$1,450,000 (2024)
Total Assessment
$1,600,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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