2 Beds
3 Baths
2,236 SqFt
2 Beds
3 Baths
2,236 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,236 sqft
Price per Sqft $245
MLS Listing ID 20265046
Style Traditional
Bedrooms 2
Year Built 1960
Annual Tax Amount $14,723
Tax Year 14723
Lot Size 4,486 Sqft
Acres 0.1
Lot Dimensions 65' x 69'
Property Sub-Type Multi Family
Source Hudson Valley Catskills Region Multiple List Service (Ulster County Board of REALTORS®)
Property Description
Whether you are looking to occupy the freshly renovated upper apartment while receiving strong rental income from the ground floor to subsidize your mortgage, or seeking a fully operational income-producing property, 377 Washington Ave is ready to perform.
Ground-Floor Commercial Storefront
(Unit 0):Size: ~750 sq. ft.
Tenant/Status: Occupied by an established tattoo shop (Lease through Sept 30, 2028, with annual rent escalations).
Rent: 1,250/month + utilities.
Features: Fully renovated space complete with a new dedicated heat pump system (heating & cooling), renovated bathroom, new lighting, flooring, and paint.
Apartment 1 (Rear, First Floor)
Status: Occupied by a long-term, month-to-month tenant.
Rent: 1,400/month.
Features: Complete gut renovation featuring a reframed structural floor system with proper dimensional lumber, new kitchen with new cabinets and appliances, new bathroom, ductless mini-split heat pump system, and fresh flooring and paint.
Apartment 2 (Second Floor)
Status: Vacant (deliberately held vacant to accommodate an owner-occupant buyer or immediate move-in).
Market Rent: 1,650/month.
Features: Recently renovated and move-in ready with a renovated bathroom, updated flooring, and fresh paint.
(Note: All existing leases reserve the owner's right to terminate upon sale of the building with 60 days' notice, giving a buyer the flexibility to take the property vacant or with current tenants in place.)
Extensive Capital & Building Improvements
The current owners have completed extensive capital upgrades throughout the entire structure, ensuring peace of mind for the incoming buyer.
HVAC & Energy: Independent heat pump / mini-split systems installed in both the commercial unit and Apartment 1 for efficient heating and cooling.
Roofing: Brand-new shingled roof installed over the rear addition in 2025.
Plumbing & Utilities: New gas meter installed, new backflow preventer installed to meet City of Kingston commercial building codes, and building-wide electrical/utility upgrades. Structural: Reframed structural floor system in Apartment 1.
Financial Highlights
Full Occupancy Gross Potential Income: 51,600 / year (4,300/month)
Operating Expenses: ~21,303.49 / year (includes county/school real estate taxes, insurance, municipal water/sewer, lawn/snow, and maintenance reserve)
Net Operating Income (NOI): ~30,296.51 / year
Location
State NY
County Ulster
Area Kingston, City
Zoning T4N-O
Interior
Heating Baseboard, Ductless, Electric, Hot Water, Natural Gas
Cooling Ductless, Heat Pump, Multi Units
Flooring Engineered Hardwood, Wood
Laundry None
Exterior
Utilities Available Cable Available, Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Shingle
Porch Patio
Building
Lot Description City Lot, Near Public Transit
Story 2
Foundation Slab, Stone
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
Schools
High Schools Kingston Consolidated
School District Kingston Consolidated
Others
Tax ID 48.330-1-4
NEARBY SCHOOL & BUSINESS
