$795,000
$795,000
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6,342 Sqft Lot
SOLD DATE : 05/09/2023
Key Details
Sold Price $795,000
Property Type Other Types
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID H6222516
Sold Date 05/09/23
HOA Y/N No
Rental Info No
Year Built 1930
Annual Tax Amount $16,615
Lot Size 6,342 Sqft
Acres 0.1456
Property Sub-Type Multi Family
Source onekey2
Property Description
TURNKEY INVESTMENT OPPORTUNITY! Beautiful Historic Brick building is located in the sought after Midtown Kingston location with greatbusiness visibility and right next to the Performing Arts theater (UPAC). This mixed use residential/commercial building has 6 residentialapartments (4 units have 2 bedrooms, 2 units have 1 bedroom) and then 2 ground floor commercial rentals currently used for retail (both rentedto the same tenant. This Three story structure is sited on a corner lot, apartments are nicely updated and glow with natural light. The back of thebuilding has a lovely patio area that can be set up with picnic tables, play area, or elevated garden beds. Property is currently offered at a 9%+CAP RATE and the seller is willing to hold the note, to a very qualified buyer. Financing terms with 30% down, with a competitive interest rate,call to inquire. Utilities are separated, tenants pay their owner heat (Natural Gas), Hot water (Electric) and then normal electric. Solidtenant base and all tenants are all very well qualified, current on rental payments and a pleasure to deal with. Basement is full and appears tobe very dry, this is great storage space for the retail tenants.
Location
State NY
County Ulster County
Interior
Heating Baseboard, Electric, Forced Air, Hot Water, Natural Gas
Cooling None
Fireplace No
Appliance Electric Water Heater, Refrigerator
Exterior
Parking Features Off Street
Building
Lot Description Corner Lot, Level
Sewer Public Sewer
Water Public
Structure Type Brick,Frame
Schools
High Schools Kingston
School District Kingston
Others
Special Listing Condition None
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515 Madison Ave 8th Floor # 8094, York, NY, 10022, United States