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66 3rd Ave
Kingston, NY 12401 East Kingston

$299,000

Apartments For Sale  •  2,450 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 2,450 Sq Ft
  • Lot Size 0.18 ac
  • Year Built 1928
  • Cap Rate 6.13 %
  • Zoning residential
0 Transit Score
50 Walk Score

Description

Invest in Kingston’s hottest new neighborhood with this stone and brick three family! Ride your bike on the brand new bike path down to Kingston Point and the waterfront. This meticulously maintained three family underlines the sturdiness of a strong investment with the craftsmanship of a great home. Two 2 bedroom apartments and one single bedroom apartment all rented below market rate to great tenants on month to month leases. If rented at market rate of 1200 for a two-bedroom and $1000 for a one-bedroom the property would have a cap rate of 9.3% Current cap rate is 6.1%. The gigantic two-car garage is rented for $150 a month.

The delightful wrought iron fence surrounds a little front yard perfect for sitting on a sunny day. While the front view makes the house appear more like an Irish cottage, it opens up to a large 3 apartment house, ideal as owner-occupied and smart as a pure investment. The main floor offers a two-bedroom apartment with bay windows, wood kitchen cabinets and plenty of light while the first and third-floor apartments include two bedrooms and bonus hobby rooms or would be offices. Wood floors and solid quality construction are seen throughout this 1928 building.

Highlights

beautiful stone building in up and coming neighborhood
wood floors throughout
exceptionally well maintained

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $28,999 (2019)
Cap Rate: 6.13 %
Total Expenses: $11,471

Amenities

  • Dishwasher
  • Washer/Dryer
  • Bay Window
  • Ceiling Fans
  • Tile Floors
  • Eat-in Kitchen
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Oven
  • Yard
  • Double Pane Windows
  • Family Room
  • Lawn

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 6
Type: Surface
Included in Rent: Yes
Kathleen Griffin 845-331-5337 Coldwell Banker Village Green
Kathleen Griffin 845-331-5337 Coldwell Banker Village Green