ULSTER-Town of NY - ID: 20183459
On the Market
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  • Price: $429,000
  • Garage: None
  • Acreage: 0.55
  • Year Built: 1970
  • School District: KINGSTONCONSOLD
  • CONTACT
    Grist Mill Real Estate
    (800) 664-5503
    gristmill@gristmillrealestate.com
Property Type: Multi-Unit

Description: Glenerie Lake Park property featuring 7 one-level rental units, fully occupied, some tenants long term residents. Many recent updates. Three stand alone unique buildings with potential for use as single family unit, AirBnB or short term rentals. Sufficient tenant off-street, on-site parking. Security system. On-site caretaker. Ample lawn space for activities and outdoor eating. Convenient to shopping, dining and main thoroughfares.
Units 1-4/strip units: owner pays heat, hot water and electric. Unit 5/cottage: owner pays heat, tenant pays electric and gas. Units 6-7/dual family: owner pays hot water and tenant pays electric and heat/propane. Garbage included for all units. Rent currently ranges from $795 to $1, 240 per month, per unit. Long time tenant takes care of lawn care, snow removal, gutters and basic tenant maintenance in exchange for reduced monthly rent. CAP RATE 10% including all expenses, 5% maintenance, and a 5% vacancy rate.


FEATURES:
NUMBER OF UNITS: 7
ZONE: 32
LOT DIMENSIONS: 101 X 235
CONDITION: Very Good
APPLIANCES: Range, Refrigerator
ELECTRICITY: 200 Amps
LOT FEATURES: Landscaped, Level, Private
WATER: Drilled Well
KITCHEN DESCRIPTION: Eat-In

Listing courtesy of: Weichert Realtors/The Spiesman Group, Weichert Realtors/The Spiesman Group / Listing Agents: Gretchen Juliano, Wendy Jarrold
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The data on this website relating to real estate comes from the (IDX) of the Multiple Listing Service of Ulster County. Real estate listings of brokerage firms other than Grist Mill Real Estate are marked with the IDX logo and the detailed information about them includes the listing broker's name. This information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed and should be independently verified.
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