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Multi Family 5+ in Sullivan
MLS Number6276898
Address22 Arrowhead Road, Narrowsburg, NY 12764 show map
Price$2,449,000 show mortgage calculator
Acres20.680004591368
Year Built1970
Est. Sq. Footage15197
Elementary SchoolSullivan West Elementary School
Jr High-Middle SchoolSullivan West High School
High SchoolSullivan West High School
Estimated Taxes$25,275
Total Apt Units16
Total Bedrooms12
# 1 Brs8
# 2 Brs7
# 3 Brs1
Remarks

GOLDEN opportunity!! Very lucrative rental property in the Western Sullivan County Catskills on over 20 acres with room to expand is what savvy investors have been waiting for. This very attractive offering consists of three buildings on two parcels with an additional four vacant parcels for development. Main attraction is a fully occupied 16-unit apartment building (with ability to add more), the second building is a two-family house in need of rehab and third is a cottage-style stand-alone which can be another rental unit or laundry facility for the tenants. The 16 units are always occupied and continuously up to date on rent with a waiting list and scheduled annual increases. There are eight 1-BR apartments, seven 2-BR apartments, and a 3-BR. The grounds are meticulously maintained with shared garden for the tenants and an enormous amount of parking. Extensive frontage on two roads, ability to add commercial and a multitude more residential units, along with a steady stream of income makes this a cash cow! Landlord pays the usual expenses: taxes, insurance, common electric, plowing, mowing, trash, repairs, and maintenance. Tenants pay all electric and propane for heat, cooking, and hot water. Narrowsburg is a lovely, quaint, and bustling river town in a very desirable area. Financial analysis report is available upon request.

Amenities

This listing is Courtesy of Malek Properties (845-583-6333).

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