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New Paltz College Rental Portfolio 3 Multifamily Properties Offered at $4,899,055 CAD in New Paltz, NY
Investment Highlights
- Some of the most desirable college rental housing in New Paltz
- Short walk to SUNY New Paltz campus
- Two full bathrooms per unit, in-unit laundry, and ample on-site parking
- Fully leased through the summer of 2027
- Tenants pay all utilities
- 38 total bedrooms – critical mass and economies of scale
Executive Summary
Rare opportunity to acquire three high-quality fully leased New Paltz college rental properties in close proximity to the SUNY New Paltz campus. The three buildings were all purpose-built as college rentals in the mid-1990’s, delivering some of the most desirable college rental housing in town. Each building has two units, with six or seven bedrooms each, for a total of 38 bedrooms. Each unit has two full bathrooms, in-unit laundry, spacious common areas, and plenty of on-site parking. Tenants pay all utilities and all units are leased into the summer of 2027. Owners prefer to sell all three buildings together, but are open to considering individual building sales. Portfolio is offered at a 7.6% cap rate, with financials available upon request.
Property Facts
| Price | $4,899,055 CAD | Number of Properties | 3 |
| Price / SF | $508.57 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7.60% | Total Building Size | 9,633 SF |
| Sale Type | Investment | Total Land Area | 1.12 AC |
| Status | Active |
| Price | $4,899,055 CAD |
| Price / SF | $508.57 CAD / SF |
| Cap Rate | 7.60% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 9,633 SF |
| Total Land Area | 1.12 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2-4 Slate Street, New Paltz, NY 12561 | Multifamily | 3,808 SF | 1994 | - |
| 17 Pencil Hill Rd, New Paltz, NY 12561 | Multifamily | 2,913 SF | 1996 | - |
| 74 S Chestnut St, New Paltz, NY 12561 | Multifamily | 2,912 SF | 1995 | - |
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New Paltz College Rental Portfolio
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