Property Details

Overview

Great find! Three family fully rented. Located on the Southside of Poughkeepsie. The set up is 2 Bedrooms and 1 bath on each floor. All apartments have gas stoves and refrigerators; Flooring is mixed with some hardwood and laminate. There is only 1 heating system and 1 electric meter. All apartments have baseboard /radiator hot water heat. Separation can be done with 2 apartments by adding the ductless systems for heat and getting two electric meters for the other apartments through the City of Poughkeepsie. Current Monthly rent roll is $5, 050 a month. Total gross rents per year is $60.600.00. Private off-street parking - two car garage with loft is a bonus. The loft offers additional storage and other possibilities for future revenue. School tax is $3971.90, and Property tax is $5120.11 Gas & Electric for all three apartments for a year is 7200. Other updates include most of the windows, updated kitchens and bathrooms, and self-closing steel doors. No leases in effect. Rents below market. Great potential to increase revenue. Currently 7% cap rate.