148 N Arlington Avenue

Fully renovated 5-unit investment property in Gloversville with over 3,000 sq ft and strong cash flow potential. Every apartment has its own electric meter and its own gas meter. The interior is nearly complete, so you can buy in with most of the heavy lifting already done. UNIT MIX & PROJECTED RENTS 1 studio: $875/month 2 one-bedroom units: $1,000/month each 2 two-bedroom units: $1,100/month each Total: about $5,075/month, or $60,900/year INTERIOR UPDATES Hardwood flooring Fresh paint New toilets New hot water heaters (some units) New outlets, switches and light fixtures Smoke and carbon monoxide detectors TENANT-FRIENDLY FEATURES Each unit has its own electric meter and its own gas meter Tenants pay their own electric, hot water and cooking gas Separate house electric and gas meters cover common-area lighting and heat for the building; owner pays only the house meters, and those bills are available Private entrance for every unit Individual porch or balcony space for a single-family feel Front and back yard space Large bedrooms and spacious living areas Corner lot with great visibility and natural light EXTRA INCOME A detached 3-car garage can be rented for parking or storage, an extra revenue stream on top of the apartment rents. THE NUMBERS Projected gross rent is about $60,900/year. With operating expenses of about $6,000/year (taxes, the house National Grid meters and water), estimated net operating income is about $54,900. At $279,999, that’s roughly a 19.6% cap rate. Utility bills are available on request. All mechanical systems are operational and appliances are in place. A strong fit for buy-and-hold investors, the BRRRR strategy, portfolio expansion or anyone seeking passive income.