$525,000
476 Broadway Newburgh, NY 12550
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$525,000
Est. payment /mo
3 BD
3 BA
3,810 SqFt
Active
476 Broadway Newburgh, NY 12550
UPDATED:
10/10/2024 09:14 AM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,810 sqft
Price per Sqft $137
MLS Listing ID H6331893
Bedrooms 3
Full Baths 2
Half Baths 1
Originating Board onekey
Rental Info No
Year Built 1900
Annual Tax Amount $9,425
Lot Size 2,178 Sqft
Acres 0.05
Property Description
This well-maintained property offers an exceptional opportunity for investors seeking reliable rental income and the potential to increase cash flow. The property features a vacant street-level storefront, previously leased at $2,000/month, presenting an open canvas for a new retail business or office tenant. With a large, versatile space and convenient rear entry leading to municipal parking, this storefront is highly appealing to small business owners looking for ease of access. Residential income comes from two fully occupied units on the upper floors. The 2nd-floor unit is a 2-bedroom apartment, currently rented for $1,400/month. The 3rd-floor unit is a 1-bedroom apartment, generating $1,200/month. Both apartments have been recently updated, including kitchens, bathrooms, and flooring. Tenants pay all utilities (gas and electric), while the landlord covers water, sanitation, exterminator services, taxes, and insurance, with estimated annual expenses under $14,000. The property boasts high-efficiency gas boilers (residential units) and updated electrical systems, ensuring low maintenance costs and energy savings. This investment offers immediate income from residential leases (both units are month-to-month), with the added opportunity to lease the vacant storefront at market rates. Whether you're a seasoned investor or looking to diversify, this property's strong income potential and strategic location make it a perfect addition to any portfolio.
Location
State NY
County Orange
Interior
Heating Natural Gas, Hot Water
Cooling Window Unit(s)
Fireplace No
Exterior
Garage On Street
Parking Type On Street
Garage false
Building
Sewer Public Sewer
Water Public
Schools
Elementary Schools Magnet Sch Of Math Science & Design
Middle Schools Call Listing Agent
High Schools Newburgh Free Academy
School District Newburgh
Others
Senior Community No
Special Listing Condition None
Listed by Rising Star Realty • 914-243-4885
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