OLIVE NY - ID: 20202621
On the Market
Ulster:20202621_1
  • Price: $1,060,000
  • Bedrooms: 12
  • Bathrooms: 6 (full)
  • Sq. Feet: 4,538
  • Garage: 1 Garage Detached
  • Acreage: 8.00
  • Year Built: 1945
  • School District: ONTEORA CENTRAL
  • CONTACT
    Grist Mill Real Estate
    (800) 664-5503
    gristmill@gristmillrealestate.com
Property Type: Multi-Unit

Description: Unique opportunity to own an 8-unit rental complex set back nicely off Rte. 28, just past Boiceville and all on the same 8-acre property. Esopus Creek frontage on the westerly side and the Little Beaverkill on the northerly side plus a meadow and a mountain view. Tenants can live privately within their own cottage/house and still feel a sense of community. One well supplies all 7 cottages and the main house. Some have a shared septic and others have their own. All cottages have either a crawl or full basement. The cape (#1) has a full dry basement and a garage. This property has potential for many uses such as becoming a cooperative or each could be rented throughout the year as an AirBnB. Many possibilities for a well run housing opportunity to bring in great cash flow year round. Minutes to the newly created rail trail for walking or biking and catching views of the Ashokan reservoir. Ideally located to take advantage of the year-round tourism and the many possible activities in the Woodstock, Phoenicia, Olive, Margaretville and Hunter areas.
Units #7 and #8 are 2 beds, 1 bath and approximately 650 sq. feet each. #7 pays $850 and #8 pays $750 per month. Rents are low and could be increased easily as some haven't been increased in a couple of years. Proforma in associated docs for actual and anticipated rents and net income. Square footage, bedrooms and bathrooms, acreage and taxes are according to Ulster County Information Services or, in some cases where there appears to be a discrepancy, verified by us.


FEATURES:
NUMBER OF UNITS: 8
UNIT 1 -RENT: 1400
ZONE: 03-Rei
LOT DIMENSIONS: 8 Acres
UNIT 1 -LEASE: M/M
UNIT 2 -LEASE: M/M
UNIT 1 -LEASE: M/M
UNIT 4 -LEASE: M/M
UNIT 5 -LEASE: M/M
Unit 6 -Lease: M/M
UNIT 2 -RENT: 700
UNIT 3 -RENT: 700
UNIT 4 -RENT: 725
UNIT 5 -RENT: 850
UNIT 6 -RENT: 1000
APPLIANCES: Range, Refrigerator
ELECTRICITY: 100 Amps, 150 Amps, 200 Amps, Circuit Breakers
LOT FEATURES: Level, Meadow, Slope-Steeply, Water Frontage, View
LOT/SITE: Rural
WATER: Drilled Well
KITCHEN DESCRIPTION: Cabinets Wood, Country, Eat-In, Pantry
SURVEY: Yes

Listing courtesy of: Lawrence O'Toole Realty / Listing Agent: Gail Short
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