KINGSTON,CITY NY - ID: 20173559
On the Market
Ulster:20173559_1
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  • Price: $282,500
  • Bedrooms: 5
  • Bathrooms: 4 (full)
  • Sq. Feet: 0
  • Garage: None
  • Acreage: 0.45
  • Year Built: 1850
  • School District: KINGSTONCONSOLD
  • CONTACT
    Vetere Real Estate
    (845) 338-0571
    kvetere@vetererealestate.com
Property Type: 4 Family

Description: Originally constructed in 1850, years of history still remain in the East Kingston School House that is now a fully occupied brick 4 family unit (converted in 1974). This 4 unit has off street parking, big back yard, separate gas and electric meters. Upgrades include a newer roof and box gutters (2010), new septic system and leech field (2013) hot water heaters in (2013), and new windows (2015). Long term tenants. Tenants pay all utilities and are on month to month leases. Net income reflects 3% vacancy credit and 3% for repair/maintenance producing positive cash flow after debt service and 9.2% cap rate at asking price. Cash on cash return approximately 17.9%. Great investment opportunity that still encompasses its history!
Net income reflects 3% vacancy credit and 3% for repair/maintenance producing positive cash flow after debt service and 9.2% cap rate at asking price. Cash on cash return approximately 17.9%.


FEATURES:
NUMBER OF UNITS: 4
UNIT 1 -RENT: 750
ZONE: Com
LOT DIMENSIONS: 100x200
UNIT 1 -LEASE: M2m
UNIT 2 -LEASE: M2m
UNIT 1 -LEASE: M2m
UNIT 4 -LEASE: M2m
UNIT 2 -RENT: 800
UNIT 3 -RENT: 850
UNIT 4 -RENT: 850
CONDITION: Good
APPLIANCES: Range, Refrigerator
ELECTRICITY: 200 Amps
LOT FEATURES: Level, Parking Lot
WATER: Municipal

Listing courtesy of: Gene Rios Realty Llc / Listing Agent: Gene Rios
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