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Sasha Iyamu

sio@eliteservicesct.com +1(203) 231-4921

$ 330,000

Est. payment -/mo

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Active

172 Downs ST Kingston, NY 12401

4 Beds

2 Baths

1,560 SqFt

UPDATED:

10/03/2024 07:15 PM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,560 sqft

Price per Sqft $211

MLS Listing ID H6328187

Style Two Story

Bedrooms 4

Full Baths 2

Originating Board onekey

Rental Info No

Year Built 1915

Annual Tax Amount $5,066

Lot Size 3,484 Sqft

Acres 0.08

Property Description

Built in 1915, the current owners have made significant updates to the building, including a new roof, new TimberTech front porch, bathroom renovation in the downstairs unit, and new carpet in the upstairs unit. Each unit is 780 square feet, with two bedrooms and one bathroom. The spacious backyard is ripe for landscaping to add value to the property. Apartment 1 rents at $1,380 monthly, and Apartment 2 rents at $1490 monthly, for a total monthly rent of $2,870, $34,400 annually. With low expenses, as tenants pay their own utilities, this is an estimated 8% cap rate at the asking price of $330,000. Midtown continues to grow, with new businesses lining Broadway and the surrounding streets. Rental units are in high demand, and while these tenants are in good standing, market rate rents could improve the property's cash flow and cap rate significantly. Both units are occupied, proof of funds required for showing. Advance notice required. Showing times: Sundays 12-4pm

Location

State NY

County Ulster

Rooms

Basement Unfinished

Interior

Heating Electric, Baseboard

Cooling Window Unit(s)

Fireplace No

Exterior

Garage On Street

Parking Type On Street

Garage false

Building

Sewer Public Sewer

Water Public

Structure Type Frame,Vinyl Siding

Schools

Elementary Schools George Washington Elementary School

Middle Schools J Watson Bailey Middle School

High Schools Kingston High School

School District Kingston

Others

Senior Community No

Special Listing Condition None

Listed by Country House Realty Inc • 845-397-2590