585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
585 Broadway
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$795,000

585 Broadway

5,540 Sq.Ft.

Description

TURNKEY INVESTMENT OPPORTUNITY! Beautiful Historic Brick building is located in the sought after Midtown Kingston location with great business visibility and right next to the Performing Arts theater (UPAC). This mixed use residential/commercial building has 6 residential apartments (4 units have 2 bedrooms, 2 units have 1 bedroom) and then 2 ground floor commercial rentals currently used for retail (both rented to 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 the building 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 to hold the note, to 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. Solid tenant base and all tenants are all very well qualified, current on rental payments and a pleasure to deal with. Basement is full and appears to be very dry, this is great storage space for the retail tenants. Owner Financing

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Location

585 Broadway, Kingston, NY

Status

Sold
Yameil Nunez

Yameil Nunez

TITLE

Associate Broker

LICENSE

10301221991

Property Amenities

Interior
Appliances Water Heater, Electric Water Heater
Flooring Carpet, Ceramic Tile, Vinyl
Area & Lot
Lot Area 6,534 Sq.Ft.
Living area 5,540 Sq.Ft.
MLS® ID 20223687
Year Built 1930
School District Kingston Consolidated
Type Commercial
Status Sold
Exterior
Air conditioning Ceiling Fan(s), Central Air
Heat type Baseboard, Electric, Forced Air, Hot Water, Natural Gas
Sewer Public Sewer
Lot Features City Lot, Corner Lot, Level
Utilities Natural Gas Available
Finance
Sales Price $795,000
Real Estate Tax $16,717 yearly

Ulster County

Work with Megan

Megan is here to assist you through every step of the process and takes pride in being an expert in the field. I eagerly anticipate the opportunity to collaborate with you and facilitate the sale of one of your most significant assets. Contact me today!