KINGSTON,CITY NY - ID: 20184286
On the Market
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  • Price: $1,150,000
  • Garage: 1 Garage Detached
  • Acreage: 0.33
  • Year Built: 1915
  • School District: KINGSTONCONSOLD
  • CONTACT
    Grist Mill Real Estate
    (800) 664-5503
    gristmill@gristmillrealestate.com
Property Type: Multi-Unit

Description: Uptown Kingston two property portfolio being offered together, fist property is located at 58 St. James St SBL# 56.92-4-8 consisting of 14 apartments in the main building and then 3 apartments and a 1 car garage in the detached carriage house. This equals a total of 17 apartments at this property with off street parking, owner pays all utilities, tenants just pay rent. The second property is located right around the corner at 194 Clinton Ave. SBL# 56.92-1-30 consisting of 4 apartments, owner pays the heat and hot water, tenants pay their own electric. Both buildings are in good condition. Buildings can be sold together as a package or separately. Please see associated doc's for full income and expense sheet. Rents on both properties are well below market rates, current cap rate is +/- 7.57% including all expenses, maintenance and a 3% vacancy. At market rents (in the buildings current condition) cap rate would be +/- 10.56% including all expenses, maintenance and a 3% vacancy rate. There is a newer roof on the main building at 58 St James St.
Cash buyers must provide proof of funds prior to showing and bank financing buyers must provide a letter from a lending institution that they are qualified to purchase.


FEATURES:
NUMBER OF UNITS: 21
ZONE: O-2
LOT DIMENSIONS: 70 X 185
CONDITION: Very Good, Good
APPLIANCES: Range, Refrigerator
ELECTRICITY: 200 Amps
LOT FEATURES: Landscaped, Level
LOT/SITE: City
WATER: Municipal
KITCHEN DESCRIPTION: Cabinets Wood
ELEMENTARY SCHOOL: Edson K-4

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