172 Downs ST Active Save Request In-Person Tour Request Virtual Tour
Kingston,NY 12401
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,560 sqft
Price per Sqft $211
MLS Listing ID H6328187
Style Two Story
Bedrooms 4
Full Baths 2
Year Built 1915
Annual Tax Amount $5,066
Lot Size 3,484 Sqft
Property Description
Built in 1915, the current owners have made significant updates to the building, including a new roof, new TimberTech front porch, bathroom renovation in the downstairs unit, and new carpet in the upstairs unit. Each unit is 780 square feet, with two bedrooms and one bathroom. The spacious backyard is ripe for landscaping to add value to the property. Apartment 1 rents at $1,380 monthly, and Apartment 2 rents at $1490 monthly, for a total monthly rent of $2,870, $34,400 annually. With low expenses, as tenants pay their own utilities, this is an estimated 8% cap rate at the asking price of $330,000. Midtown continues to grow, with new businesses lining Broadway and the surrounding streets. Rental units are in high demand, and while these tenants are in good standing, market rate rents could improve the property's cash flow and cap rate significantly. Both units are occupied, proof of funds required for showing. Advance notice required. Showing times: Sundays 12-4pm
Location
State NY
County Ulster
Interior
Heating Electric,Baseboard
Cooling Window Unit(s)
Exterior
Garage On Street
Building
Sewer Public Sewer
Water Public
Structure Type Frame,Vinyl Siding
Schools
Elementary Schools George Washington Elementary School
Middle Schools J Watson Bailey Middle School
High Schools Kingston High School
School District Kingston
Others
Special Listing Condition None