OOC - GREENE NY - ID: 20221343
On the Market
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Property Type: Multi-Unit
Description: Sprawling 29 unit complex consisting of two adjacent parcels, 1037 Aquetuck is a 12 unit brick apartment building, fully rented and about 5 unitsare renovated along with a new roof. 14311 Route 9W is a +/- 2, 500 square foot renovated 4 bedroom brick single family home and acompletely renovated 16 unit strip apartment complex (is currently a 28 room motel) but renovation starts January 15, 2022 and should becompleted by April 2022. The 12 unit apartment building has all electric motel style heating and ac, the home has a hot water boiler and the 16units that are under renovation will be brand new with heat/ac splits in each unit. There is lots of flat usable land for tenant enjoyment oradditional accessory buildings. See attached income and expense sheet. Property is being offered at $1, 995, 000 sold turn key as a 28 unitapartment complex with a single family home, rents for the 16 newly created apartments are projected in the sheet at a low fair market rate.Cap rate at asking price is 8.4% at current rents and projected rents. Listing agent is part owner. 28 Room motel is in the process of being renovated into 16 apartments, renovation starts January 15, 2022. Buyer can purchase the propertynow AS-IS asking $1.6M. Listing agent is owner FEATURES: NUMBER OF UNITS: 29
ZONE: Com 1 LOT DIMENSIONS: 3.55 Acres APPLIANCES: Refrigerator, Range ELECTRICITY: 200 Amps LOT FEATURES: Landscaped LOT/SITE: Hamlet/Village, Suburb WATER: Municipal KITCHEN DESCRIPTION: Eat-In SURVEY: Yes |
Listing courtesy of: Berardi Realty / Listing Agent: Gregory Berardi
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Copyright © 2022 by the Multiple Listing Service of Ulster County and Catskill Mountain Realty. All rights reserved.
This page is to be linked to only from CatskillMountainRealty.com