(5 unit great opportunity), buy a turnkey investment property on a quiet road two blocks from the Hudson River in the quaint hamlet of Galsco. Property has its own off street parking. The Building consists of 5 units which are all two bedroom and one bath. Each apartment comes with a storage unit in the rear of the building. The Building has been very well maintained, in the past few years new hot water heathers, floors, ranges and refrigerators were replaced when needed. Strong rents and are still below market rates. Furnace has been serviced regularly. Building is connected with municipal water and sewer. Tenant pays electric. Owner pays for heat (natural gas), water/sewer, and plowing/landscaping. The building comes with a plot of land In front of building. Buyers agent to confirm what can be built. At current ask , appx 7 cap, with rent increases set to come into effect over the next few months.
Listing ID20221144
Sold For$623,500
Basic Info
StatusSOLD
Sold Date7/08/2022
Acres
0.740
CountyUlster County
Year Built1962
Property TypeMulti-Family
Property Sub TypeMulti-Unit
Area
Primary Features
County
Ulster County
Property Sub Type
Multi-Unit
Property Type
Multi-Family
Year Built
1962
Zoning
COM 1
External
Driveway
BLACKTOP
Exterior Features
LANDSCAPED, OUTSIDE LIGHTING
Garage Capacity
None
Garage Type
None
Garage/Parking Extras
DRIVEWAY, LOT-PAVED, OFF STREET
Lot
6.100
Lot Dimensions
0.74 of an ac
Lot Features
LANDSCAPED, LEVEL, SLOPE-GENTLY
Lot/Site
HAMLET/VILLAGE, SUBURB
Porch
PATIO
Roof
ASPH SHINGLE
Siding
VINYL
Style
APT. COMPLEX, ONE STORY
Views
SEASONAL
Location
Area/Town
Saugerties-town
Block
3
Lot Block Address
6.100,3,22 Albany Street
School District
Kingston Consolidated
Section
29.47
Townships
Saugerties
Financial
Annual Expenses
25760
Annual Income
66660
Annual Net
40543
Cap Rate
7
For Sale
For Sale
Foreclosure
no
General Tax
4492
Insurance
2400
Lease Type
MONTH TO MONTH, ONE YEAR
Monthly Income
5555
Owner Pays
GAS, INSURANCE, MAINTENANCE, REPAIRS, SEWER, TAXES, TRASH, WATER
Owner Pays
TAXES
School Tax
6877
Short Sale
no
Tenant Pays
ELECTRIC
Tenant Pays
ELECTRIC
Total Taxes
11369
Unit 1 Rent
1140
Unit 2 Rent
1050
Unit 3 Rent
1100
Unit 4 Rent
1130
Unit 5 Rent
1200
Water Cost
1616
Zoning Info
LISTING AGENT
For additional information contact Gregory Berardi gregberardiwmr@gmail.com. Phone: (845) 201-1111