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Listed by Rachel Haley • Houlihan Lawrence Inc.
$ 4,925,000
Est. payment | /mo
$ 4,925,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 155002
Property Sub-Type Commercial
Property Description
This exclusive opportunity features a portfolio of nine properties in the Village of Philmont, NY, offering a mix of residential units across various addresses, all within a few block radius. The seller, a seasoned investor, prefers to sell the portfolio as a whole, though individual sales are possible. This portfolio offers an immediate income-generating investment with a projected NOI of $433,661. With a mix of fully renovated units and others primed for upgrades, the portfolio promises both stability and growth potential. Each property has been maintained by the owner, who employs a team of contractors and utilizes DoorLoop for seamless property management. This portfolio offers immediate returns and long-term appreciation in a market with rising property values and increasing demand.Portfolio Highlights:Located in the up-and-coming village of Philmont, NY in the Hudson Valley, attracting both locals and city dwellers.62 Main Street nearing completion of extensive renovation. This key building will feature 5 newly renovated units, a fully restored facade, new insulation, replacement of central oil heat with electric heating in each unit, and all new bathrooms.National Parks and SHPO historic restoration tax credits have been approved for both buildings at 7 Church Street. These approvals are transferable with the sale, reducing renovation costs for investors.Strong mix of unit sizes--from 1-bedroom units to larger 3-bedroom duplexes--offering a variety of rental options.Low landlord expenses on renovated properties. Recent upgrades, including new HVAC systems and electric heating, reduce operational costs and increase profitability.Transferable management software. The current owner uses the state-of-the-art DoorLoop online system to manage tenants and maintenance, leasing, applications, background checks, and rent collections, which can easily be transferred to new ownership.Opportunities for value-add improvements. Several units and buildings are vacant or under renovation, offering investors the chance to enhance value through continued upgrade
Location
State NY
County Columbia
Interior
Heating Other
Window Features Insulated,Storm,Vinyl Clad,Other
Exterior
Roof Type Asphalt,Other
Building
Foundation Block, Poured Concrete, Masonry
Sewer Municipal
Water Municipal
Schools
School District Taconic Hills