Majestic Apartments

Investment Overview

Offered at $3,450,000, Majestic Apartments is a 37-unit multifamily investment in the Village of Herkimer. The property is currently 100% occupied. Situated on approximately 1.50 acres, the three-story former school building includes 22 one-bedroom and 15 two-bedroom apartments. Amenities include an elevator, on-site parking and coin-operated laundry on each floor, providing ancillary property income. The property’s $500,000+ capital improvement program includes a new roof and boilers in 2026, window replacements, apartment renovations, parking lot paving and hallway painting. A large unused auditorium and basement gym offer potential for an estimated 6–8 additional apartments or alternative retail or fitness uses. All future uses and additional units are subject to feasibility and required approvals.

Investment Highlights

• 37-unit multifamily investment offered at $3,450,000; currently 100% occupied
• $500,000+ capital improvement program, including a new roof and boilers in 2026
• 22 one-bedroom apartments and 15 two-bedroom apartments
• Approximately 1.50-acre site with on-site parking
• Distinctive three-story former school building with elevator
• Income-generating coin-operated laundry on each floor
• Potential for an estimated 6–8 additional apartments or retail/fitness use, subject to feasibility and required approvals