OLIVE NY - ID: 20203889
On the Market
Ulster:20203889_1
Ulster:20203889_1
Ulster:20203889_2
Ulster:20203889_3
Ulster:20203889_4
Ulster:20203889_5
Ulster:20203889_6
Ulster:20203889_7
Ulster:20203889_8
Ulster:20203889_9
Ulster:20203889_10
  • Price: $525,000
  • Bedrooms: 5
  • Bathrooms: 6 (full)
  • Garage: 2 Garage Detached
  • Acreage: 0.92
  • Year Built: 1908
  • School District: ONTEORA CENTRAL
  • CONTACT
    Grist Mill Real Estate
    (800) 664-5503
    gristmill@gristmillrealestate.com
Property Type: Multi-Unit

Description: Here’s a Great Opportunity to own a Versatile Multi-Unit Property. It Features High Visibility on State Route 28 with Five Fully Occupied Apartments and a Professional Office Space for your Business currently used by the Owner. If you don’t have a business then rent the Office Space for additional Income. The front Building houses the Owners Office and two Nice Apartments. The back Building has Three more Apartments and a Workshop. There are three additional Outbuildings and a Garage on the property also. The 8.5% Cap Rate incorporates a 5% Vacancy Rate and reflects Income for the Apartments only so there’s ample room for Improvement. Almost directly across the street is access to the new Ashokan Rail Trail with miles of Scenic Views whether you’re walking, running or biking. Conveniently located in Shokan it’s about 10 minutes to Woodstock or Phoenicia and striking distance to plenty of shops, restaurants and hiking trails. Videos of the Apartments will be posted in the Addendum. Please review them before making an appointment to visit the property.
Apt 1A: https://youtu.be/eT-_t78nZ9U Apt 1B: https://youtu.be/b_s9DyXAD9k Apt 2A: https://youtu.be/oqlx-RWvmAc Apt 2B: https://youtu.be/77cc3hdgl1w Apt 2C: https://youtu.be/qr3Bj_l6jJQ


FEATURES:
UNIT 1 -RENT: 1200
ZONE: Vb
LOT DIMENSIONS: 100x400
UNIT 1 -LEASE: Y
UNIT 2 -LEASE: Y
UNIT 5 -LEASE: N
Unit 6 -Lease: Y
UNIT 2 -RENT: 850
UNIT 3 -RENT: Na
UNIT 4 -RENT: 650
UNIT 5 -RENT: 700
UNIT 6 -RENT: 850
APPLIANCES: Range, Refrigerator
ELECTRICITY: 100 Amps, 200 Amps, Circuit Breakers
LOT FEATURES: Additional Land Available, Level, Public Rail Trail
LOT/SITE: Hamlet/Village
WATER: Drilled Well, Shared

Listing courtesy of: Murphy Realty Group / Listing Agent: Edwin Maldonado
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