Property Details

Overview

Lucrative income producing investment property in historic City of Newburgh, NY with 10% Cap Rate with $39, 936 in Net Operating Income. Located in the historic part of the up and coming City of Newburgh near the Newburgh Waterfront and minutes to Mount Saint Mary College, the Ferry to Beacon, Metro North to Beacon, I-84 and I-87. This classic townhouse style building has a rare 4 bedroom 2 story apartment and a lower level 2 bedroom apartment with rear entrance. Could be owner occupied with rental income or continue as purely an investment property. Four bedroom unit needs extensive renovations but could be restored to its former glory after current tenants move out at the end of September. Each unit has separate utilities and meters. Rents are fully covered by Section 8 with guaranteed payments and could continue moving forward.