Investment Opportunity in Stockade5 Washington Avenue -
5 WASHINGTON AVENUE
Invest in an income-producing property – and live in a lovely historic home!
Now you can own a part of history in the Stockade District, while earning a rental income with growth potential. This 1819 multifamily property, with a foundation constructed in 1735, evolved from an addition to the original house. All three units are occupied and produce a current annual income of $26,400. Garage rental offers the opportunity for additional income production, and river views from the upper deck add to the property’s inherent historical attraction. Better yet, you can live next door in a thoroughly up-to-date home with carefully preserved authentic details.
More to love
The accompanying owner-occupied property is right next door at #3 Washington Avenue. It’s move-in ready and offers a host of modern amenities and scenic views. #3 Washington Ave is listed for $250,000 and the properties can be sold together or separately.
You’ll love spending time in the beautiful modern kitchen - complete with cooktop island and double wall oven, that opens to a cozy brick wall fireplace. Gather friends and family for memorable meals in the formal dining room and let the conversation flow by firelight. The traditional décor is complimented by built-in cabinets, gorgeous crown molding, ceramic tile, wood-framed windows and hardwood floors. With five bedrooms, three full baths and one half bath, you can easily accommodate a large family or favorite houseguests. The master bedroom is elegantly appointed and its walk in closet makes getting ready for work or play a breeze. You’ll find charming features throughout, such as a gracefully arched inner doorway, clawfoot tub and metal ceiling, that speak of this home’s timeless character.
A well-placed skylight brightens up your days inside, and a full walkout basement with Bilco door provides easy access to the serene, natural setting outside. Relax on your private patio and admire the lush garden that boasts white, pink and rose spirea, pink peonies, hosta and English ivy. Landscape lighting and a tree-screened fence encourage you to linger long after the sun has set.
When you’re ready to leave the pleasures of home, you’ll find that Union College, GE, Proctors, popular restaurants and the Mohawk River and Park are all within easy walking distance.
The original house was one-room deep and owned by six generations of the Vrooman family. An addition was made in 1893 when the house was divided into #3 and #5. Periodic architectural changes, documented by photographs going as far back as 1835, have transformed the house over the years. It once existed as a gingerbread Victorian, and the last Vroorman in residence restored the façade to its current Greek revival appearance. The front door, however is original to the house’s construction.
Other changes resulted from the Albany landscape, when Washington Avenue was the city’s main thoroughfare. The street has been raised approximately three feet since the house was built, resulting in the cellar windows now being underground. As another consequence of the house’s location, the vibration from the streetcars traversing Washington Avenue around the turn of the century kept knocking the plaster ceilings down. This led to the installation of a metal ceiling, which at the time was considered to be quite fashionable.
Related Website Links You'll be Interested In Reading:
- MLS® ID: 201522356
- Year Built: 1819
- New Construction: No
- County: Schenectady
- Property ID: 103889099
- Status: Sold on 4/28/2016
- Total Square Footage: 2,133 ($70.32 per sq. foot)
- School District: Schenectady
- Style: Multi-Family
- Parking Type Description: Detached 5 cars
- Estimated Annual Taxes: $5,272