235, 237,239 Partition, 33 Montgomery, Saugerties, NY 12477 (MLS# 20172020)
$1,300,000
Saugerties, NY 12477
MLS# 20172020
Status: Closed
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Property Description
UNIQUE COMPLEX WITH 18 UNITS CENTRALLY LOCATED IN THE HEART OF SAUGERTIES VILLAGE. FIVE SEPARATE BUILDINGS WITH DIFFERENT AGES AND STYLES, ALL ON ONE DEED. LOT SIZE IS 0.8 ACRES AND THERE IS OVER 20 PARKING SPACES. ALSO GARDEN AREAS. PROPERTY HAS BOTH COMMERCIAL AND RESIDENTIAL USES. EXCELLENT LONG TERM TENANT BASE. CAP RATE IS 7.2% WITH A 5% VACANCY RATE. LANDLORD HAS HAD ALMOST NO VACANCY. UNITS RENT QUICKLY THROUGH EXISTING TENANTS. AAA LOCATION AND PERFECT TIME TO INVEST IN FRIENDLY SAUGERTIES. CLOSE PROXIMITY TO NYS THRUWAY. PROPERTY DETAILS AND RENT ROLLS ARE IN ASSOCIATED DOCS WITH ACTUAL AND PRO-FORMA NUMBERS. THERE ARE 3 NEWER TOWNHOUSES, 5 NEWER 1 LEVEL APARTMENTS, 3 VINTAGE ATTACHED BUILDINGS WITH APARTMENTS AND COMMERCIAL STORE FRONTS. ALSO INCLUDED IS A LAUNDRY AREA WITH 2 COIN OPERATED WASHER AND DRYERS. THERE IS AN ADDITIONAL LOT ON THE CORNER OF PARTITION AND MONTGOMERY FOR SALE. ASK LIST AGENT FOR DETAILS.
Details
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: Williams
Owner Phone: 3385252
Current Price: $1,300,000
Original List Price: 1450000
Sold Price: $1,300,000
Status: Closed
Listing Contract Date: 2017-05-08
Property Sub Type: Multi Family
Location, Tax, and Legal
Street Additional Info: 33 Montgomery
Township: Saugerties
General Tax: 5684
School Tax: 12272
Tax Assessed Value: 608500
Tax Legal Description: 25.6,3,235, 237,239 Partition
Tax Lot: 25.6
Tax Block: 3
Zoning: Com1
Directions: From NYS Thruway exit 20 Saugerties, Route 212 toward Village, right onto Market St, left on Main St to right onto Partition, left on Montgomery, right at drive
General Property Information
Number Of Units Total: 18
Lot Size Acres: 0.08
Lot Size Dimensions: .08
Association YN: No
Garage YN: No
Garage Spaces: 0
Sign On Property YN: Yes
Stories: 2
Remarks and Miscellaneous
Public Remarks: UNIQUE COMPLEX WITH 18 UNITS CENTRALLY LOCATED IN THE HEART OF SAUGERTIES VILLAGE. FIVE SEPARATE BUILDINGS WITH DIFFERENT AGES AND STYLES, ALL ON ONE DEED. LOT SIZE IS 0.8 ACRES AND THERE IS OVER 20 PARKING SPACES. ALSO GARDEN AREAS. PROPERTY HAS BOTH COMMERCIAL AND RESIDENTIAL USES. EXCELLENT LONG TERM TENANT BASE. CAP RATE IS 7.2% WITH A 5% VACANCY RATE. LANDLORD HAS HAD ALMOST NO VACANCY. UNITS RENT QUICKLY THROUGH EXISTING TENANTS. AAA LOCATION AND PERFECT TIME TO INVEST IN FRIENDLY SAUGERTIES. CLOSE PROXIMITY TO NYS THRUWAY. PROPERTY DETAILS AND RENT ROLLS ARE IN ASSOCIATED DOCS WITH ACTUAL AND PRO-FORMA NUMBERS. THERE ARE 3 NEWER TOWNHOUSES, 5 NEWER 1 LEVEL APARTMENTS, 3 VINTAGE ATTACHED BUILDINGS WITH APARTMENTS AND COMMERCIAL STORE FRONTS. ALSO INCLUDED IS A LAUNDRY AREA WITH 2 COIN OPERATED WASHER AND DRYERS. THERE IS AN ADDITIONAL LOT ON THE CORNER OF PARTITION AND MONTGOMERY FOR SALE. ASK LIST AGENT FOR DETAILS.
Status Change Information
Status Change Timestamp: 2017-12-29
Buyer Financing: Other
Concessions Amount: 22200
Major Change Timestamp: 2017-12-30T01:24:47Z
Major Change Type: Status Change
Purchase Contract Date: 2017-08-08
Close Date: 2017-12-29
Close Price: 1300000
Appliances
Gas Water Heater: 1
Range: 1
Refrigerator: 1
Architectural Style
Other: 1
Basement
Other: 1
Book Information
Liber/Book: 1569
Page: 0046
Section: 18.279
Construction Materials
Brick: 1
Frame: 1
Stone: 1
Vinyl Siding: 1
Cooling
Central Air: 1
Electric
Circuit Breakers: 1
Flooring
Carpet: 1
Ceramic Tile: 1
Heating
Baseboard: 1
Forced Air: 1
Natural Gas: 1
Steam: 1
Listing Terms
Lease Option: 1
Lot Features
Level: 1
Parking Features
Assigned: 1
Driveway: 1
Off Street: 1
Other: 1
See Remarks: 1
Plumbing
Mixed: 1
Roof
Asphalt: 1
Shingle: 1
Sewer
Public Sewer: 1
Showing Considerations
Occupied: 1
Structure Type
Townhouse: 1
Water Source
Public: 1
Documents Available
Survey: 1
Income and Expenses
Cap Rate: 7
Fuel Expense: 8520
Gross Scheduled Income: 149910
Insurance Expense: 6433
Monthly Income: 13150
Net Operating Income: 105360
New Taxes Expense: 21829
Other Expense: 3500
Other Income: 0
Total Annual Expenses: 44550
Water Expense: 4268
Owner Pays
Taxes: 1
Tenant Pays
Electricity: 1
Showing Requirements
24 Hour Notice: 1
Appointment Only: 1
Listing Agent Must Accompany: 1
Showing Information
Showing Instructions: LA must accompany
Historical Information
UC Public Historical Remarks: FIPS Code: NY111, Age: 41-60, Lot/Site: Hamlet/village, Lease Type: Month To Month
Location Tax and Legal
Street Number: 235, 237,239
Street Name: Partition
County: Ulster
State: NY
Zip Code: 12477
Town (Taxable): Saugerties-Vlg
Property Features
Appliances: Gas Water Heater; Range; Refrigerator
Architectural Style: Other
Basement: Other
Construction Materials: Brick; Frame; Stone; Vinyl Siding
Cooling: Central Air
Documents Available: Survey
Electric: Circuit Breakers
Flooring: Carpet; Ceramic Tile
Heating: Baseboard; Forced Air; Natural Gas; Steam
Listing Terms: Lease Option
Lot Features: Level
Owner Pays: Taxes
Parking Features: Assigned; Driveway; Off Street; Other; See Remarks
Plumbing: Mixed
Roof: Asphalt; Shingle
Sewer: Public Sewer
Showing Considerations: Occupied
Structure Type: Townhouse
Tenant Pays: Electricity
Water Source: Public
Showing Requirements: 24 Hour Notice; Appointment Only; Listing Agent Must Accompany
Listing Courtesy of Halter Associates Realty
Listing Agent: Carol Spirig