62 Gill Street, Kingston, NY 12401

A savvy investment with a great Kingston location, this lovely two-unit brick house (offered fully vacant) is less than a mile from the beautiful and lively Rondout shopping/dining/strolling area! Options abound with the possibility of living in one unit while generating income with the other, or renting them both and benefitting from Kingston’s robust rental market. The upper duplex has a flexible floorplan, original pine floors, high ceilings, and oversized windows throughout. There are two charming outdoor spaces to choose from and natural light streams through this apartment all day long! The first floor one-bedroom apartment has a spacious kitchen/living area and the bedroom is peacefully tucked away on the back of the building. The 2021-2023 leases were $1,800/month for the upper duplex and $900/month for the first floor- although the current market could likely demand higher! The current owner had the tenants covering all utilities except for property taxes and insurance — making for an excellent investment opportunity with a cap rate right around 5.9%. Recent improvements include repointing/facade work, exterior and interior paint, a new roof in 2022, and a full renovation within the last 6 years. The heating system is 5 years old. There is no off street parking, but it is generally easy to find a spot right out front. Gill Street is only a three-block street so there is not a lot of through traffic — and it ends right at the Kingston Point Rail Trail! Kingston is an attractive location for many prospective tenants looking for apartments with easy access to the businesses and outdoors in the city and surrounding area. The Rondout is one of the most beloved neighborhoods with so many fun places nearby like Rosie General, Brunette, Half Moon Donuts, Kingston Wine Co., and the weekly Waterfront Farmers Market.