OOC - GREENE NY - ID: 20221343
On the Market
Ulster:20221343_32
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  • Price: $1,995,000
  • Sq. Feet: 0
  • Garage: None
  • Acreage: 3.55
  • Year Built: 1950
  • School District: Rav-Coey-S
  • CONTACT
    Catskill Mountain Realty
    845-331-5665
    scott@catskillmountainrealty.com
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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