Multi-Family Phoenicia 37-69 Ava Maria Dr 19 Unit Apartment Building $2,628,441 CAD ($138,339 CAD/Unit) 6.93% Cap Rate Phoenicia, NY 12464

19 unit multi-family compound in one of the Eastern Catskill’s - Hudson Valley's historic travel destinations, Phoenicia New York. The four buildings overlook the town of Phoenicia and the mountains of the Catskills.
The Four buildings are comprised of (3) studios, (5) one bedroom, (9) two bedroom and (2) three + bedroom apartments. The grounds consist of 8.54 acres, mature trees, large yards, a coin operated laundry room for tenants, ample parking, and a paved municipal street. In addition to the Four buildings there is a music gazebo and a water fountain that is not functioning at this time.
This income property is family owned for over 50 years. The rents are below market rate presenting great potential for increasing an investor’s return. Long Term tenants provide a steady income.
Walking distance to Main Street Phoenicia, a quaint town with a bus stop traveling from NYC. Home of the Empire State Railroad Museum, Emerson Kaleidoscope, Catskill Rail Explorers, hiking trails, mountain climbing, fly fishing on the Esopus Creek, and many premier food establishments. The Catskill’s offer several options for winter skiing, including downhill skiing at resorts like Belleayre Mountain, Plattekill Mountain, Hunter Mountain Resort, and Windham Mountain Club.
Advance notice is required for viewing the buildings. The grounds can be seen from the public street, but no one should walk the property or go near the buildings. With 24 Hour notice, potential buyers will be able to walk the property with their agent, outside first. If further interest, prospective purchaser will provide financial qualifications and we will arrange interior showings.
• All 4 roofs were replaced within the past 5 years.
• All apartments are in good condition. Most have been renovated in the near past.
• Heating units are serviced and maintained under service contract.
• Mean tenancy for the 19 units is 12 years.
• 15 Minutes from Woodstock, 30 minutes from Uptown Kingston & NYS Thruway (I87) traffic circle