1 Lewis Lane, New Paltz, NY 12561 (MLS# 20264811)

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Property Description
Rarely available, this established six-unit multifamily property offers an exceptional opportunity to acquire an income-producing asset on 12.9 private, pastoral acres just outside the Village of New Paltz. Combining stable rental income, long-term tenancy, and meaningful value-added potential, the property is ideally positioned in one of the Hudson Valley's most desirable and consistently strong rental markets. The building comprises six apartments distributed across the first, second, and third floors: two studios, two one-bedroom units, one two-bedroom unit, and one three-bedroom unit. A walkout lower level provides valuable additional amenities, including tenant storage, a dedicated laundry facility, and a spacious owner's office suite--an attractive feature for an owner-operator or investor seeking functional on-site workspace. The property's generous acreage provides an uncommon sense of privacy and open space for a multifamily property. Sun-filled grounds offer residents opportunities for raised-bed flower and vegetable gardening, adding to the property's appeal and creating a distinctive community-oriented living environment. Each apartment is separately metered for electricity, with electric service billed directly to tenants. The landlord is responsible for common-area maintenance and other utilities. The property benefits from a stable base of long-term tenants, providing an established income stream while leaving potential for future enhancement and increased value. The location is equally compelling. Set just outside the Village of New Paltz, the property is part of a vibrant college town where the Hudson River Valley meets the dramatic Shawangunk Mountain Ridge. Residents enjoy an extraordinary combination of natural beauty and cultural amenities, with world-class hiking, biking, swimming and rock climbing complemented by exceptional arts, culture, dining and entertainment. A compelling opportunity to acquire a well-established multifamily property with scale, acreage, stable tenancy, and upside potential in one of the Hudson Valley's most sought-after communities.

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