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21 Grove Street

New Paltz, NY 12561
  • $879,000
  • STATUS: ACTIVE
  • ON SITE: 19 Days
  • MLS #: 20223599
UPDATED: 48 min ago
$879,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2002
County:
Area:

School Ratings & Info

School District:

Description

Opportunity to purchase one of the finest college rental buildings in New Paltz. Impeccably maintained 2-Unit property, with 5BR/2BA in the original house + 3 BR/3BA in the attached 2002 addition. The large 0.34-acre lot is located just one block from Main Street and four blocks from the SUNY New Paltz campus. The building is fully leased to two separate groups of six students each, through June 2023, at a total of $6,905 per month. Both groups of tenants would like to extend through June 2024. Tenants pay all utilities including electricity, heat, water, sewer, and garbage. Twelve private off-street parking space provide a rare and convenient amenity. The current owner bought the property in 2014 and has done a great job, with recent improvements that include a new roof, new on-site coin-operated laundry, parking lot blacktop, security cameras, new hot water heater, and new stove. True 7.1% cap rate, with upside in the rents (current rent averages just $575 per student). Full financials available upon request.

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© 2022 by Hudson Valley Catskill Region MLS. All Rights Reserved. The data relating to real estate on this website comes in part from the IDX of the Hudson Valley Catskill Region MLS. Real estate listings held by brokerage firms other than The Petrocca Properties Team at Keller Williams Capital District are marked with IDX logo and the detailed information about them includes the name of the listing broker. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data Last Updated:2022-12-04T22:18:27.14
www.petroccaproperties.com/homes/134773882
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21 Grove Street New Paltz, NY 12561

  • Price: $879,000
  • Status: ACTIVE
  • On Site: 19 Days
  • Updated: 48 min ago
  • MLS #: 20223599
0
Beds
5
Baths
0
½ Baths
0.34
Acres
2002
Built
Neighborhood:
New Paltz
County:
Ulster
Area:
New Paltz
School District:
New Paltz Central
Property Description
Opportunity to purchase one of the finest college rental buildings in New Paltz. Impeccably maintained 2-Unit property, with 5BR/2BA in the original house + 3 BR/3BA in the attached 2002 addition. The large 0.34-acre lot is located just one block from Main Street and four blocks from the SUNY New Paltz campus. The building is fully leased to two separate groups of six students each, through June 2023, at a total of $6,905 per month. Both groups of tenants would like to extend through June 2024. Tenants pay all utilities including electricity, heat, water, sewer, and garbage. Twelve private off-street parking space provide a rare and convenient amenity. The current owner bought the property in 2014 and has done a great job, with recent improvements that include a new roof, new on-site coin-operated laundry, parking lot blacktop, security cameras, new hot water heater, and new stove. True 7.1% cap rate, with upside in the rents (current rent averages just $575 per student). Full financials available upon request.
Exterior Features

Garage Parking Extras Off Street Garage Type None

Interior Features

Heat Source Baseboard Heating Fuel Oil

Property Features

Annual Income 82860 Annual Net 60060 Annual Taxes 14698 Assessed 370500 Flood Plain No Foreclosure YN No General Tax 4349 Listing Type Exclusive Right Lot Dimensions 0.34 Acres Monthly Income 6905 Other Income 2180 Owner Pays Taxes School Tax 8529 Sewer Municipal Short Sale YN Yes Tenant Pays All Utilities Total Deposit 0 Total Taxes 14698 Type 2 Family Unit1 Baths 2 Unit1 Bedrooms 5 Unit1 Rent $3500 Unit2 Baths 3 Unit2 Bedrooms 3 Unit2 Rent $3405 Vil Tax 1820 Water Municipal

© 2022 by Hudson Valley Catskill Region MLS.
Listing # 20223599 provided courtesy of Matthew Eyler of New Paltz Properties: 845-417-8300.
© 2022 by Hudson Valley Catskill Region MLS. All Rights Reserved. The data relating to real estate on this website comes in part from the IDX of the Hudson Valley Catskill Region MLS. Real estate listings held by brokerage firms other than The Petrocca Properties Team at Keller Williams Capital District are marked with IDX logo and the detailed information about them includes the name of the listing broker. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data Last Updated:2022-12-04T22:18:27.14
 
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The Petrocca Properties Team at Keller Williams Capital District
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Hudson NY, 12534