Active
476 Broadway
Newburgh NY, 12550
$525,000
$137.80 per sqft
Active
3 Beds
3 Baths
3,810 sqft
Multi-family
Built in 1900
This well-maintained property offers an exceptional opportunity for investors seeking reliable rental income and the potential to increase cash flow. The property features a vacant street-level storefront, previously leased at $2,000/month, presenting an open canvas for a new retail business or office tenant. With a large, versatile space and convenient rear entry leading to municipal parking, this storefront is highly appealing to small business owners looking for ease of access. Residential income comes from two fully occupied units on the upper floors. The 2nd-floor unit is a 2-bedroom apartment, currently rented for $1,400/month. The 3rd-floor unit is a 1-bedroom apartment, generating $1,200/month. Both apartments have been recently updated, including kitchens, bathrooms, and flooring. Tenants pay all utilities (gas and electric), while the landlord covers water, sanitation, exterminator services, taxes, and insurance, with estimated annual expenses under $14,000. The property boasts high-efficiency gas boilers (residential units) and updated electrical systems, ensuring low maintenance costs and energy savings. This investment offers immediate income from residential leases (both units are month-to-month), with the added opportunity to lease the vacant storefront at market rates. Whether you're a seasoned investor or looking to diversify, this property's strong income potential and strategic location make it a perfect addition to any portfolio.
H6331893
MLSⓇ ID
October 9, 2024
Listed
October 10, 2024
Updated
Map
476 Broadway
Newburgh NY, 12550
Interior Features
Bedrooms
3
Total Bathrooms
3
Full Bathrooms
2
Half Bathrooms
1
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Natural Gas, Hot Water
Exterior/Building Features
Lot Size
0.05 Acres
Sewer
Public Sewer
School Information
School District
Newburgh
High School
Newburgh Free Academy
Elementary School
Magnet Sch of Math Science & Design
Other Property Details
Taxes
$9,425
Tax Frequency
Annually
Garage
No
Parking
On Street
View
No
County
Orange
Municipality
Newburgh
Water Source
Public
Pool
No
Listed by Igor Krasnoperov with Rising Star Realty
Listing Contact: 914-243-4885
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Claire Browne shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 7:47 PM UTC, 10/10/2024