Great find! Three family fully rented. Located on the Southside of Poughkeepsie. The set up is 2 Bedrooms and 1 bath on each floor. All apartments have gas stoves and refrigerators; Flooring is mixed with some hardwood and laminate. There is only 1 heating system and 1 electric meter. All apartments have baseboard /radiator hot water heat. Separation can be done with 2 apartments by adding the ductless systems for heat and getting two electric meters for the other apartments through the City of Poughkeepsie. Current Monthly rent roll is $5,050 a month. Total gross rents per year is $60.600.00. Private off-street parking - two car garage with loft is a bonus. The loft offers additional storage and other possibilities for future revenue. School tax is $3971.90, and Property tax is $5120.11 Gas & Electric for all three apartments for a year is 7200. Other updates include most of the windows, updated kitchens and bathrooms, and self-closing steel doors. No leases in effect. Rents below market. Great potential to increase revenue. Currently 7% cap rate.
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.
