23-25 Monroe Street

Schenectady, New York, known as the “Electric City,” is a historic and revitalizing hub in the Capital Region of Upstate New York. Located along the Mohawk River, just 15 miles northwest of Albany, Schenectady blends rich colonial history with modern innovation. The city was originally settled in the 17th century and rose to prominence in the industrial age as the home of General Electric and the American Locomotive Company. Its Stockade Historic District showcases beautifully preserved 18th- and 19th-century homes and is one of the oldest residential neighborhoods in the United States. Today, Schenectady is a mid-sized city with a population of around 69,000, offering a diverse and close-knit community. The economy has shifted from heavy industry to a mix of education, healthcare, and tech-driven sectors. Union College, one of the oldest liberal arts colleges in the country, plays a major role in the city’s academic and cultural life. Schenectady also hosts the Museum of Innovation and Science (miSci), along with numerous local theaters, festivals, and community events. The city has seen significant downtown revitalization in recent years, including the development of the Rivers Casino & Resort, new housing, and a bustling riverfront district. Residents enjoy access to parks, walkable neighborhoods, and a cost of living that is lower than nearby metro areas. Schenectady offers a balance of historical charm, modern amenities, and a spirit of renewal that makes it a compelling place to live, work, and visit.Northeast Private Client Group is pleased to exclusive list 23 Monroe St, a nine- unit multifamily investment property located in the heart of Schenectady, NY. The property features a well-balanced unit mix of two studios, six one-bedrooms and one three-bedroom unit across approximately 4,776 gross square feet. With current rents significantly below market, the asset offers immediate upside through rent repositioning and operational improvements. Renovated units are expected to achieve market rents of up to $1,200 for one-bedroom units and $1,500 for the three-bedroom, supporting a meaningful increase in cash flow. Strategically positioned within walking distance to Downtown Schenectady, the property benefits from access to major employers, local universities, restaurants, and entertainment venues. Its proximity to GE’s global research campus and Rivers Casino further drives long-term rental demand. The offering presents a compelling opportunity for investors seeking a stabilized asset with value-add potential in a growing Upstate New York submarket. With in-place income, room for rent growth, and a strong tenant base, 23 Monroe Street is ideally suited for small-scale investors or 1031 exchange buyers targeting yield and long-term appreciation.