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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.
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.
Overview
Property Type
Commercial
Location
585 Broadway, Kingston, NY 12401
MLS ID
H6222516
Listing Last Updated
4/22/2025 10:36 PM
Property Features & Amenities
Interior
Total Bedrooms
0
Appliances
Electric Water Heater, Refrigerator
Exterior
Stories
3
Water Source
Public
Lot Features
Corner Lot, Level
Parking
Off Street
Heat Type
Baseboard, Electric, Forced Air, Hot Water, Natural Gas
Air Conditioning
None
Sewer
Public Sewer
Details
Financial
Price
$795,000
Real Estate Tax
$16,615/yr
Zoning
C2
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