Glenville Manor Estates — Sale in Glenville, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Glenville, NY 12302
  • Year built: 1990

Investment Figures

Cap rate
8.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Glenville Manor Estates, located in Glenville, NY (Albany-Schenectady-Troy MSA, a cash-flowing, value-add manufactured housing community consisting of 88 total units with immediate upside through infill, rent growth, and operational improvements. Located approximately 15 miles northwest of Albany along Saratoga Road (NY Route 50, Glenville sits within New York’s Capital Region — the state’s third-largest metro area with a population of approximately 913,000. The Albany-Schenectady-Troy MSA benefits from a diversified employment base anchored by state government, healthcare systems (Albany Med, Ellis Medicine, higher education (SUNY Albany, Union College, RPI, and a growing technology sector marketed under the “Tech Valley” brand. Schenectady County is currently one of the fastest-growing counties in the Capital Region at approximately 1.2% annual growth, driven by strong domestic in-migration and new housing demand. Glenville itself is recognized as one of the best places to live in New York, with a median household income of approximately $94,866 — significantly above the national average — and a population of approximately 29,675. This offering consists of 88 total units, including 70 tenant-owned homes (TOH, 1 occupied single-family home ($1,612/month, and 2 garages ($113/month, and 14 vacant mobile home lots and 1 vacant garage, presenting an infill and stabilization opportunity. The average MH lot rent is $512/month, with projected market lot rent of $650/month, providing approximately $138/month in natural rent growth per occupied lot. Several vacant lots require concrete pads and utility connections, while others have partial or full infrastructure in place. Glenville Manor Estates is serviced by public water (landlord pays, included in rent and septic with 2 sewer pumps (landlord pays, included in rent. Trash is curbside and billed back to tenants at $23/month. Electric, gas/propane, and cable are all tenant-paid via

Market Context

This multifamily in Glenville, NY is listed for sale. It is offered at an approximate 8.0% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1990. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Glenville, NY — view the full market.

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