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Listed by Yameil Nunez, Berardi Realty
TURNKEY INVESTMENT OPPORTUNITY! Beautiful Historic Brick building is located in the sought after Midtown Kingston location with great business visibility and right next to the Performing Arts theater (UPAC). This mixed use residential/commercial building has 6 residential apartments (4 units have 2 bedrooms, 2 units have 1 bedroom) and then 2 ground floor commercial rentals currently used for retail (both rented to the same tenant. This Three story structure is sited on a corner lot, apartments are nicely updated and glow with natural light. The back of the building has a lovely patio area that can be set up with picnic tables, play area, or elevated garden beds. Property is currently offered at a 9%+ CAP RATE and the seller to hold the note, to qualified buyer. Financing terms with 30% down, with a competitive interest rate, call to inquire. Utilities are separated, tenants pay their owner heat (Natural Gas), Hot water (Electric) and then normal electric. Solid tenant base and all tenants are all very well qualified, current on rental payments and a pleasure to deal with. Basement is full and appears to be very dry, this is great storage space for the retail tenants. Owner Financing

More Info

Basic Information

  • Acreage0.15
  • Lfd WaterMUNICIPAL
  • List Price$795,000
  • MLS Number20223687
  • MlsStatusPENDING CONTINUE TO SHOW
  • Property TypeMixed Use
  • SewerMUNICIPAL
  • Square Feet5,540
  • TermsOWNER WILL FINAN
  • Units8
  • Year Built1930

Other

  • Commercial FeaturesDISPLAY WINDOW, OVERHEAD SPRINKLERS
  • Electricity100 AMPS, 200 AMPS
  • Lot22
  • Lot Dimensions52 X 122
  • Lot FeaturesCORNER LOT, LEVEL
  • Lot SiteCITY
  • Owner PaysINSURANCE
  • Sales IncludeBLDG
  • Short SaleNo
  • Tennant PaysALL UTILITIES
  • View Count16

Location

  • Address585 Broadway
  • Area TownKINGSTON, CITY
  • Building Number585
  • High School DistrictKingston Consolidated
  • StateNY
  • StreetBroadway
  • TownKingston
  • Zonec2

Amenities

  • Other AmenitiesBasement, Garden

Building

  • BasementFULL, PARTIAL
  • ConstructionFRAME/STICK, MASONRY

Property

  • Current Business TypeAPARTMENT INCLUDED, GENERAL RETAIL

Interior

  • FloorsCARPET, CERAMIC, VINYL

Utilities

  • Cooling Air ConditioningCEILING FAN, CENTRAL
  • Heat SourceBASEBOARD, FORCED AIR, HOT WATER, NATURAL GAS AVAILABLE
  • Heating FuelELECTRIC, NATURAL GAS
  • Hot WaterELECTRIC

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