KINGSTON,CITY NY - ID: 20203744
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Ulster:20203744_1
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  • Price: $1,600,000
  • Bedrooms: 2
  • Bathrooms: 6 (full)
  • Sq. Feet: 5,500
  • Garage: None
  • Acreage: 0.07
  • Year Built: 1920
  • School District: KINGSTONCONSOLD
  • CONTACT
    Vetere Real Estate
    (845) 338-0571
    kvetere@vetererealestate.com
Property Type: 3 Family

Description: Uptown Kingston mixed use building featuring a fully equipped turn-key restaurant/bar with two NYC loft style apartments, one on the second and third floor. Thriving restaurant has recently closed due to owner relocation (business is for sale asking $100, 000 and $7, 000 month rent). Second floor apartment has been completely renovated offering 1 bedroom, two full bathrooms and a rooftop deck (could easily be a 2 bedroom apartment) and is currently rented for $2, 200 a month with the tenant paying all utilities. Third floor apartment is currently one unit, 2-3 bedroom with two full baths (but was split into two 1-bedroom apartments in the past), available for rent at $2, 500 with electric included. In this unit there are two full bathrooms, 1 kitchen and laundry area that was previously the second kitchen, unit could easily be converted back into two apartments. Income and expense sheet reflects current status of building with projected rents as a commercial space and 2 apartments. See associated docs for income and expense at asking price. Full basement with high ceilings is great for storage, has full beer cooler and office. The exterior offers a front patio facing Wall Street and a rear patio facing Fair Street (could be used as parking or additional seating).
Updates, first floor bar/restaurant was created in 2016, second floor apartment was renovated in 2018 and third floor apartment updated in 2019. Top roof was 1/2 redone in 2018 and the original roof is about 8 yeas old. second floor roof was re-coated about 2 years ago. 1st floor boiler is about 1 year old, 2nd floor boiler is about 2 years old and the 3rd floor boiler is about 1 year old. Bar/restaurant electric also does the 3rd floor apartment (can easily be split up by adding a new panel and meter).


FEATURES:
NUMBER OF UNITS: 3
UNIT 1 -RENT: 7000
ZONE: Comm1
LOT DIMENSIONS: 25x126
UNIT 1 -LEASE: Vacan
UNIT 2 -LEASE: Mtm
UNIT 1 -LEASE: Vacan
UNIT 2 -RENT: 2200
UNIT 3 -RENT: 2500
APPLIANCES: Refrigerator, Range
ELECTRICITY: 200 Amps
LOT FEATURES: Level
LOT/SITE: City
WATER: Municipal
KITCHEN DESCRIPTION: Breakfast Bar, Custom Cabinets, Cabinets Wood, Eat-In
ELEMENTARY SCHOOL: Edson K-4

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