58 St. James Street, KINGSTON, NY 12401
$700,000
Sold Price
Sold on 12/18/2019
Listing ID |
10543869 |
|
|
|
Property Type |
Multi-Unit (5+) |
|
|
|
County |
Ulster |
|
|
|
Total Tax |
$15,941 |
|
|
|
|
Tax ID |
000000-056.092-0004-008.000 |
|
|
|
FEMA Flood Map |
fema.gov/portal |
|
|
|
Year Built |
1915 |
|
|
|
|
|
|
|
|
|
Uptown Kingston 17 unit apartment complex consisting of a main building with 14 apartments then a detached carriage house with 3 apartments and a 1 car garage. Owner pays for all utilities in both buildings, main building has a natural gas boiler and gas hot water, carriage house has a forced air natural gas furnace and a gas hot water heater. All units are in good condition with all hard wood flooring, some exposed and some under carpeting and other flooring. Building is in very good structural and mechanical condition , units could be updated to extremely increase the rental income, most tenants are very long standing, some have resided for over 20 years. Rents are well below market rate, Cap rate at asking price is 8.15%, at current market rents (under current condition) cap rate would be +/- 11.01% including all expenses, maintenance and a 3% vacancy.
|
- 0.29 Acres
- Built in 1915
- 17 Units
- Detached Garage
- 1 Garage Space
- Gross Income $116,100
- Net Income $71,325
- Insurance Exp $4,877
- $9,142 School Tax
- $6,799 County Tax
- $15,941 Total Tax
- Sold on 12/18/2019
- Sold for $700,000
- Buyer's Agent: Gregory Berardi
- Company: Win Morrison Realty
Listing data is deemed reliable but is NOT guaranteed accurate.
|