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

  

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