For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $795,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID H6222516
Sold Date 05/09/23
Originating Board onekey
Year Built 1930
Annual Tax Amount $16,615
Property Description
TURNKEY INVESTMENT OPPORTUNITY! Beautiful Historic Brick building is located in the sought after Midtown Kingston location with greatbusiness visibility and right next to the Performing Arts theater (UPAC). This mixed use residential/commercial building has 6 residentialapartments (4 units have 2 bedrooms, 2 units have 1 bedroom) and then 2 ground floor commercial rentals currently used for retail (both rentedto the same tenant. This Three story structure is sited on a corner lot, apartments are nicely updated and glow with natural light. The back of thebuilding has a lovely patio area that can be set up with picnic tables, play area, or elevated garden beds. Property is currently offered at a 9%+CAP RATE and the seller is willing to hold the note, to a very qualified buyer. Financing terms with 30% down, with a competitive interest rate,call to inquire. Utilities are separated, tenants pay their owner heat (Natural Gas), Hot water (Electric) and then normal electric. Solidtenant base and all tenants are all very well qualified, current on rental payments and a pleasure to deal with. Basement is full and appears tobe very dry, this is great storage space for the retail tenants.
Location
State NY
County Ulster
Zoning C2
Interior
Heating Electric, Natural Gas, Baseboard, Forced Air, Hot Water
Cooling None
Fireplace N
Appliance Oven, Refrigerator
Building
Sewer Public Sewer
Water Public
Structure Type Brick, Frame
Schools
School District Kingston
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Berardi Realty