14311 Route 9W

14311 Route 9W New Baltimore, New York 12124 United States

Sprawling 29 unit complex consisting of two adjacent parcels, 1037 Aquetuck is a 12 unit brick apartment building, fully rented and about 5 unitsare renovated along with a new roof. 14311 Route 9W is a +/- 2,500 square foot renovated 4 bedroom brick single family home and acompletely renovated 16 unit strip apartment complex (is currently a 28 room motel) but renovation starts January 15, 2022 and should becompleted by April 2022. The 12 unit apartment building has all electric motel style heating and ac, the home has a hot water boiler and the 16units that are under renovation will be brand new with heat/ac splits in each unit. There is lots of flat usable land for tenant enjoyment oradditional accessory buildings. See attached income and expense sheet. Property is being offered at $1,995,000 sold turn key as a 28 unitapartment complex with a single family home, rents for the 16 newly created apartments are projected in the sheet at a low fair market rate.Cap rate at asking price is 8.4% at current rents and projected rents. Listing agent is part owner.

Listing Courtesy of Berardi Realty, Ulster County Board-Realtors