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585 Broadway
$795,000

585 Broadway

Description

TURNKEY INVESTMENT OPPORTUNITY! Beautiful Historic Brick building is located in the sought after Midtown Kingston location with greatbusiness visibility and right next to the Performing Arts theater (UPAC). This mixed use residential/commercial building has 6 residentialapartments (4 units have 2 bedrooms, 2 units have 1 bedroom) and then 2 ground floor commercial rentals currently used for retail (both rentedto 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 thebuilding 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 is willing to hold the note, to a very 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. Solidtenant base and all tenants are all very well qualified, current on rental payments and a pleasure to deal with. Basement is full and appears tobe very dry, this is great storage space for the retail tenants.

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Location

585 Broadway, Kingston, NY 12401

Status

Sold
Yameil Nunez

Yameil Nunez

TITLE

Associate Broker

Property Amenities

Interior
Appliances Oven, Refrigerator
Area & Lot
MLS® ID H6222516
Year Built 1930
School District Kingston
Type Commercial
Status Sold
Exterior
Air conditioning None
Heat type Electric, Natural Gas, Baseboard, Forced Air, Hot Water
Water Source Public
Sewer Public Sewer
Finance
Sales Price $795,000
Real Estate Tax $16,615 yearly

Ulster County

Work With Us

Berardi Realty is here to assist you through every step of the process and takes pride in being an expert in their field. They eagerly anticipate the opportunity to collaborate with you and facilitate the sale of one of your most significant assets. Contact them today!