KINGSTON,CITY NY - ID: 20230593
On the Market
Ulster:20230593_1
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  • Price: $259,900
  • Bedrooms: 2
  • Bathrooms: 2 (full)
  • Sq. Feet: 1,795
  • Garage: 3 Garage Detached
  • Acreage: 0.25
  • Year Built: 1905
  • School District: KINGSTON
  • CONTACT
     Catskill Mountain Realty
    845-331-5665
    scott@catskillmountainrealty.com
Property Type: 2 Family

Description: MULTIPLE OFFER SITUATION-HIGHEST & BEST Deadline SAT. 4/1 2:00 PM Midtown Kingston money maker with 3-bay, detached garage. 10% Cap Rate. Currently set up as a 2-family, but there is a vacant, 380 sq. ft., studio-type unit that needs renovation. Perhaps with proper zoning approval this could be a third unit or artist studio/work space. The other two units were totally renovated 12 years ago, with new electric, plumbing, insulation, heating and decks. The first floor has 2 bedrooms plus an extra room for office or dining, was just refreshed and is currently vacant with projected rent of $1600. The upstairs unit is 2 bedrooms, currently rented for $900. Tenants pay their own utilities. The 3-bay, concrete block garage can rent for a total of $600. Property offers a driveway and off street parking.
Annual net income and cap rate reflect a 5% vacancy rate. Being Sold "AS IS". Tax Records list as a 3-Family, in 2-Family Zone. Upstairs tenant's lease exires July, 2023.

FEATURES:
NUMBER OF UNITS: 2
UNIT 1 -RENT: 1600
ZONE: R2
LOT DIMENSIONS: 50x221
UNIT 1 -LEASE: Vacan
UNIT 2 -LEASE: Year
UNIT 2 -RENT: 900
UNIT 3 -RENT: 600
APPLIANCES: Refrigerator, Range
ELECTRICITY: 100 Amps, Other
LOT FEATURES: Level
LOT/SITE: City
WATER: Municipal
NEIGHBORHOOD: Midtown
 
Listing courtesy of: Howard Hanna Rand Realty / Listing Agent: Vincenza Seche
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