Courtesy: eXp Realty
888-276-0630
A rare opportunity to acquire a fully occupied 7-unit brick apartment building situated on approximately 1.7 acres in the Town of Alden, near the village. This stabilized investment property offers consistent cash flow today with excellent potential for future appreciation and increased income through rent growth. Constructed with a low-maintenance brick exterior and slab foundation, the building features a newer metal roof, updated mechanicals, individual electric panels for each unit, natural gas through Alden Reserve, and electric service through NYSEG. The property is serviced by well water, with the well conveniently located along the side of the driveway, and a septic system positioned behind the parking lot. Residents enjoy the convenience of a coin-operated washer and dryer, providing an additional source of income for the owner. The expansive 1.7-acre parcel offers a unique opportunity for future expansion, leaving ample room for additional apartment units or further development (subject to municipal approvals), making this an exceptional long-term investment. Whether you're looking to expand your portfolio or acquire a stable income-producing property with future upside, this is an opportunity you won't want to miss.
Alden is located in New York. Alden, New York has a population of 9,874. Alden is more family-centric than the surrounding county with 34.44% of the households containing married families with children. The county average for households married with children is 26.77%.
The median household income in Alden, New York is $75,028. The median household income for the surrounding county is $62,578 compared to the national median of $69,021. The median age of people living in Alden is 40.9 years.
The average high temperature in July is 79.6 degrees, with an average low temperature in January of 17 degrees. The average rainfall is approximately 40.8 inches per year, with 91.4 inches of snow per year.
