KINGSTON,CITY NY - ID: 20173967
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Ulster:20173967_1
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  • Price: $1,500,000
  • Sq. Feet: 0
  • Garage: None
  • Acreage: 0.75
  • Year Built: 2012
  • School District: KINGSTONCONSOLD
  • CONTACT
    Vetere Real Estate
    (845) 338-0571
    kvetere@vetererealestate.com
Property Type: Multi-Unit

Description: Two building apartment complex located within walking distance to Uptown Kingston and the bus station. Building #1 fronts Snyder Ave, built in 2012 offers 7 apartments, (6) two bedroom units measuring +/- 1, 050 SF and the top floor two bedroom apartment measuring +/- 1, 400 SF. All tenants pay their own electric, landlord pays for the heat and hot water. (5) of the units in this building have washer and dryer hookups and there is also a coin operated washer and dryer. Building # 2 fronts Hurley Ave, built in 1960 offers 8 apartments. All tenants pay their own electric, landlord pays for the heat and hot water. Both buildings have long term tenants. Cap rate at asking price is 6.39%, this includes all confirmed expenses including a 3% vacancy rate and 3% repair and maintenance expense. Rents are well below market, please call for income and expense sheet with pro-forma breakdown. Cap rate at market rents would be 8.5%.

FEATURES:
NUMBER OF UNITS: 15
ZONE: O-2
LOT DIMENSIONS: 182 X 180
CONDITION: Very Good
APPLIANCES: Dryer, Microwave, Range, Refrigerator, Washer
ELECTRICITY: 200 Amps
LOT FEATURES: Corner Lot, Landscaped, Level, Parking Lot, Slope-Gently
LOT/SITE: City
WATER: Municipal
SURVEY: Yes
ELEMENTARY SCHOOL: Edson K-4

Listing courtesy of: Win Morrison Realty / Listing Agent: Gregory Berardi
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