High income producing, fully leased low maintenance property. Awesome location in a great town close to downtown with access to NY via walk to the train. Very desirable by tenants making it easy to rent. Rare oppottunity for a passive investor. Also Ideal for investor who wants to occupy one of the rentals & income from the other apartments. TURN KEY- 8 Unit apartment building + 15,000sqft parking lot. In Orange County, New York POSSIBLE OWNER FINANCING 10% plus Cap Rate minimum or better! An investors dream come true! Store front, the front lower store unit has yet to be utilized to add more income or your own management office. Many possibilities with a creative mind and the right owner. All utilities paid by tenants! Low to no maintenance costs! $96,360 gross rent - $17,000 operating costs = $79,360 net/year Each unit has a certificate of occupancy (CO) in this 4,500 sq. ft income producing property, including solid oak cabinets, granite kitchen counter tops, marble bath walls, updated Plumbing & Electric. Non-Smoking building that has fire extinguishers in each unit for added safety. All city services available. some tenants are in their fifth, fourth, third and second years of tenancy. Fenced yard, off street parking, cable, Town water & sewer. Walk to Supermarket, Churches, VFW, Banks, Hair Salons, Camping/sporting goods store, Post Office, several RX stores, Restaurants, Gas stations, Dunkin Donuts, Liquor stores, $.99 store, Hair salons, Library, custard stand, town parks, rail trail. The village is section 8 housing compliant. The property is located on the corner of a state highway, which makes it a high visibility so the “for rent” signs are clearly visible from the State Highway, both directions. Low crime area. 10 electric meters~ 8 tenant + 1 Landlord meters and 1 [yet to be designated] (store front perhaps)! New water main! The owner has loved this income property for over 14 years. But it’s time to pass the baton as he is ready to retire and relocate. You can take the property to its full money-making potential. Undeveloped Potential: ·Increase square footage of two apartments [triple/3x] easily and raise their rent accordingly. All w/out changing foot print of the House [minimal carpentry & electric]. ·Store front business. The property is zoned B2 [business]. That means additional gross and net rent ** Coin-operated laundry mat on site needs some tlc ·Rent unused parking to local car owners, RV’s, boats, tradesmen/ Landscapers/business owners etc. Financial information will be provided to buyers agents and their clients upon proof of qualification.
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