This 3 stories corner building consisting of 5696 square feet floor area having 20 room / dorm is located in Fallsburg / Woodbournes, a town in the very heart of popular predominately Jewish summer resort area known as the Catskills Borscht Belt. This is a legal and licensed rooming house, which has one commercial kitchen and two regular kitchens. There is a laundry room, storage and office in the building. This building sits on approximate 2 acres land. This property was renovated and new improvements were made in 2005-2006 and is in fair condition. Projected rent for single bed is $400.00 per month and $450.00 for double bed. There are 10 single bedrooms and 10 double bed rooms. If fully rented all year around, after paying $11,000.00 in real estate taxes, $2,400.00 for water and sewer, $9,500.00 for insurance, $3,000.00 for electric, $7,500.00 for oil, there is approximately $70,000.00 net operating income for this property. At present only a few rooms are rented on monthly basis, however, during the summer season the property is 100% occupied and the rent for each single bed room is almost $750.00 to $1,000.00 a week. There is a great upside potential for this property. Neighborhood Description Location Description: This 3 stories corner building consisting of 5696 square feet floor area having 20 room / dorm is located in Fallsburg / Woodbournes, a town in the very heart of popular predominately Jewish summer resort area known as the Catskills Borscht Belt, Sullivan County, New York.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
