Kingston, NY 12401,585 Broadway
$795,000
$795,000
Est.Price: ?

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585 Broadway Kingston, NY 12401

Est. payment /mo
SOLD DATE : 05/09/2023

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Key Details

Sold Price $795,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID H6222516

Year Built 1930

Annual Tax Amount $16,615

Property Description

TURNKEY INVESTMENT OPPORTUNITY! Beautiful Historic Brick building is located in the sought after Midtown Kingston location with greatbusiness visibility and right next to the Performing Arts theater (UPAC). This mixed use residential/commercial building has 6 residentialapartments (4 units have 2 bedrooms, 2 units have 1 bedroom) and then 2 ground floor commercial rentals currently used for retail (both rentedto the same tenant. This Three story structure is sited on a corner lot, apartments are nicely updated and glow with natural light. The back of thebuilding has a lovely patio area that can be set up with picnic tables, play area, or elevated garden beds. Property is currently offered at a 9%+CAP RATE and the seller is willing to hold the note, to a very qualified buyer. Financing terms with 30% down, with a competitive interest rate,call to inquire. Utilities are separated, tenants pay their owner heat (Natural Gas), Hot water (Electric) and then normal electric. Solidtenant base and all tenants are all very well qualified, current on rental payments and a pleasure to deal with. Basement is full and appears tobe very dry, this is great storage space for the retail tenants.

Location

State NY

County Ulster

Zoning C2

Interior

Heating Electric, Natural Gas, Baseboard, Forced Air, Hot Water

Cooling None

Building

Sewer Public Sewer

Water Public

Structure Type Brick, Frame

Schools

School District Kingston

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Listed by Berardi Realty • 845-201-1111
Bought with Berardi Realty

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