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364-368 Liberty St 364 Liberty St 7 Unit Apartment Building $1,938,342 CAD ($276,906 CAD/Unit) 9.40% Cap Rate Newburgh, NY 12550
Investment Highlights
- 7-Unit, 100% Free-Market
- $1,400,000 Offering Price with a 9.4% Current Cap Rate
- 100% Occupied, Large 3-Bedroom Layouts, Averaging Over 1,200 Square Feet
- Includes Vacant Lot + Garages
Executive Summary
Marcus and Millichap - New York Multifamily is pleased to exclusively offer 364-368 Liberty St for sale, two fully occupied multifamily buildings located in Newburgh's historic Liberty Street corridor. The property is combined 8,444 square feet and contains 7 fully free-market residential units. The buildings maintain a 100% occupancy rate and features a highly uniform unit mix, exclusively offering large 3-bedroom layouts that average over 1,200 square feet per apartment.
REVITALIZATION
Located along Newburgh’s Liberty Street corridor, the property benefits from approximately $110M in nearby corridor-related private investment, including the $74M Liberty Street Apartments, $25M Shaw Building adaptive reuse, and $11M 104 Washington Street mixed-use project. A $6.89M infrastructure grant will further support water, sewer, gas, and roadway upgrades tied to over 200 new downtown housing units.
HIGH GROWTH-CORRIDOR
Located along the Liberty Street corridor, the property is positioned within an area experiencing continued public and private investment. Nearby development activity and infrastructure improvements may further support neighborhood appeal and long-term demand.
VALUE-ADD OPPORTUNITY.
By increasing current rents to the $2,500 market average, this asset offers significant upside. Investors can capitalize on this to boost the Net Operating Income by over $11,000, achieving a 10.1% pro forma cap rate.STRATEGIC
LOCATION
Located a 2-minute drive from the I-84 and Route 9W interchange, the asset provides immediate regional connectivity. It sits 0.3 miles from Mount Saint Mary College, driving steady tenant demand from a major local employer.
100% FREE MARKET.
The property operates completely free of rent regulation, with all 7 units classified as 100% Free Market. This allows investors to execute market-rate adjustments.
REVITALIZATION
Located along Newburgh’s Liberty Street corridor, the property benefits from approximately $110M in nearby corridor-related private investment, including the $74M Liberty Street Apartments, $25M Shaw Building adaptive reuse, and $11M 104 Washington Street mixed-use project. A $6.89M infrastructure grant will further support water, sewer, gas, and roadway upgrades tied to over 200 new downtown housing units.
HIGH GROWTH-CORRIDOR
Located along the Liberty Street corridor, the property is positioned within an area experiencing continued public and private investment. Nearby development activity and infrastructure improvements may further support neighborhood appeal and long-term demand.
VALUE-ADD OPPORTUNITY.
By increasing current rents to the $2,500 market average, this asset offers significant upside. Investors can capitalize on this to boost the Net Operating Income by over $11,000, achieving a 10.1% pro forma cap rate.STRATEGIC
LOCATION
Located a 2-minute drive from the I-84 and Route 9W interchange, the asset provides immediate regional connectivity. It sits 0.3 miles from Mount Saint Mary College, driving steady tenant demand from a major local employer.
100% FREE MARKET.
The property operates completely free of rent regulation, with all 7 units classified as 100% Free Market. This allows investors to execute market-rate adjustments.
Property Facts
| Price | $1,938,342 CAD | Property Subtype | Apartment |
| Price Per Unit | $276,906 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 9.40% | Building Size | 9,000 SF |
| Gross Rent Multiplier | 7.1 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1900 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $1,938,342 CAD |
| Price Per Unit | $276,906 CAD |
| Sale Type | Investment |
| Cap Rate | 9.40% |
| Gross Rent Multiplier | 7.1 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 9,000 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 331100-010-000-0001-024.000-0000 | Improvements Assessment | $478,077 CAD |
| Land Assessment | $42,998 CAD | Total Assessment | $521,075 CAD |
Property Taxes
Parcel Number
331100-010-000-0001-024.000-0000
Land Assessment
$42,998 CAD
Improvements Assessment
$478,077 CAD
Total Assessment
$521,075 CAD
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