420 Crescent AVE new Save Request In-Person Tour Request Virtual Tour
Highland,NY 12528
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 15,000 sqft
Price per Sqft $113
MLS Listing ID 20251673
Bedrooms 24
Year Built 1972
Annual Tax Amount $41,289
Tax Year 41289
Lot Size 31.900 Acres
Property Sub-Type Multi Family
Property Description
Opportunity to acquire a large, well-located multi-family compound with tremendous upside potential. Originally built as a summer bungalow resort, the property features 32 acres of beautiful grounds with 9 individual buildings housing 22 residential units. These buildings include a 3BR single-family home (occupied by the current owners), a motel-like building with 6 studio apartments, a row building with 3 one-bedroom apartments, a two story building with 4 studio apartments, the original main house with 4 one-bedroom apartments, and 4 stand-alone one-bedroom cottages. There is one additional building that houses an on-site coin-operated laundry facility for the tenants. The grounds include mature shade trees, open lawns, wooded areas with stone walls and wild turkeys, and a large pond along the main entrance drive that was recently paved. All but three of the units are currently occupied, and rents are significantly below market rate, presenting an opportunity for major revenue growth. Further upside can potentially be unlocked by developing additional units on site - zoning density calculations suggest the ability to building another 12 units on the property. Full financials available upon request.
Location
State NY
County Ulster
Area Plattekill
Zoning AG 1.5
Schools
High Schools Highland Central Schools
School District Highland Central Schools