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Listed by: William Pitt Sotheby's Interna
$ 3,229,000
Est. payment /mo
New
62 Main ST Philmont, NY 12534
1.15 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20265238
Year Built 1979
Annual Tax Amount $23,649
Tax Year 23649
Lot Size 1.150 Acres
Acres 1.15
Property Sub-Type Duplex
Source Hudson Valley Catskills Region Multiple List Service (Ulster County Board of REALTORS®)
Property Description
Six buildings, twenty-three units, four blocks of the Philmont village core, held in single ownership since 2022 and offered as one. Nineteen units leased. Trailing twelve-month net operating income of 195,147 dollars on 306,128 dollars of effective gross income, cash basis, per ownership's books; stabilized net operating income projected at 223,289 dollars once four ordinary vacancies are turned at rents already achieved in the same buildings. The repositioning is a record rather than a projection: tenants in continuous occupancy since the 2022 acquisition have seen contract rents rise from a median of 825 dollars to a median of 1,275 dollars on the same units. Ownership converted 62 Main from central oil to individual electric heat, restored facade work, renovated bathrooms and upgraded insulation throughout. 62 Main (6 units), 20 Church (4), 7 Canal (4), 3 Elm (4), 3 Church (3), 5 Elm (2). Fifteen minutes to Hudson and Amtrak.
Location
State NY
County Columbia
Area Claverack
Zoning multifamily
Schools
High Schools Taconic Hills Central Schools
School District Taconic Hills Central Schools
Others
Tax ID 113.130-0001-003.000
NEARBY SCHOOL & BUSINESS
AFFORDABILITY CALCULATOR
Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.
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