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Eric Hotaling
erichotaling@kw.com$ 950,000
Est. payment | /mo
6,098 Sqft Lot
$ 950,000
Est. payment | /mo
6,098 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1030135
Style Row Dwelling
Rental Info No
Year Built 1900
Annual Tax Amount $15,376
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type Multi Family
Source onekey2
Property Description
Income-producing multifamily opportunity delivering an 8.5% current cap rate, with potential to reach approximately 10.5% at pro forma rents. This 5-unit property features (1) 1-bedroom apartment, (2) 3-bedroom apartments, and (2) 4-bedroom apartments, generating $117,480 in current gross annual income. All tenants pay for heat, hot water, and electricity, while the landlord is responsible for water and sewer. The sale also includes a separately deeded 9-car parking lot, with one parking space for each unit, and every apartment has an in-unit washer/dryer hookup. Located near major anchors such as Route 9, the Mid-Hudson Bridge, Marist College, Vassar College, Dutchess Community College, and the Culinary Institute of America, the property offers strong in-place income with meaningful room for future upside. An ideal opportunity for investors seeking a stable, income-producing asset in a prime Poughkeepsie location. Income & expense information available upon request.
Location
State NY
County Dutchess County
Rooms
Basement Finished, Full, Walk-Out Access
Interior
Heating Baseboard, Natural Gas
Cooling None
Fireplace No
Exterior
Parking Features Driveway, Off Street, Parking Lot
Utilities Available Natural Gas Connected
Building
Story 4
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Poughkeepsie City
School District Poughkeepsie City
Others
Special Listing Condition None
Listed by Serhant LLC • Jake Garay