20-24 Main Street
Property Description
Unlock exceptional potential and substantial value-added with this unique commercial investment property situated on 6.30 sprawling acres. This expansive compound features two main structures, offering multiple avenues for rehabilitation, development, and massive future rental upside. The centerpiece of the property is the main apartment building, a massive, three-story multi-family structure boasting 22,832 square feet of building space. This building houses a diverse mix of studios, 1-bedroom, 2-bedroom, and 3-bedroom units (with 22 total apartments), alongside a dedicated commercial laundry room currently under a 10-year lease and a small office space with tons of storage. While several units are occupied, 3 apartments are down to the studs providing a blank canvas to renovate, lease at top-tier market rents, and exponentially drive up your Net Operating Income. The full basement also offers bedrock-solid infrastructure and raw waiting/storage space with the distinct potential to build out and rent private tenant storage units for an additional monthly revenue stream. Adjacent to the apartment building sits a standalone, single-family residential house featuring a 3-bedroom, 2-bathroom layout with a full basement. Currently in need of renovation, this asset allows you to finish the build to your exact specifications to create a premium rental asset or an ideal owner-manager's quarters. Positioned on 6.30 acres of beautiful Catskill terrain, this property offers a park-like yard bordered by a scenic stream and nature walk. Bring your vision, tools, and contractor to unlock the full cash-flow potential of the Cold Spring Apartments compound.
Broker Details
Keller Williams Upstate New York Properties (607) 431-2540
MLS ID: OD1848 State License Number: 40CH1109154
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $850,000 |
| No. of Units: | 22 |
| Year Built: | 1900 |
| Lot Size: | 22,832.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $38,636 |
| Property Website | Click Here |
| Number of Bedrooms: | 22 |
| Number of Bathrooms: | 0 |
ID: 3yd-BNARNY-R1701245
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