338/336 Libertyville Road, New Paltz, NY 12561 (MLS# 20190215)
$1,650,000
New Paltz, NY 12561
MLS# 20190215
Status: Closed
7142 sqft
1 / 35
Property Description
Unique investment opportunity with over a 9% cap rate! 2 Buildings, 1 Lot with 16 apartments Great location just a few miles outside the village of New Paltz & 90 miles from NYC Numerous capital improvements make this a solid investment. See Associated Docs for a detailed list but they include: new roof, electric panels and heavy wiring feeds, gas water heaters, septic tanks, well pump, pressure tank, and 5 newly installed heat pump units providing heat and air conditioning to the 12 apartments in the large building to name a few. Many details of stain glass and wooden beams, hardwood floors. A community garden is in the backyard and a stream runs along the property boundary.
Details
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: Flynn
Owner Phone: c/o LR
Occupant Name: owner
Current Price: $1,650,000
Original List Price: 1950000
Sold Price: $1,650,000
Status: Closed
Listing Contract Date: 2019-01-18
Property Sub Type: Other
Location, Tax, and Legal
Township: Gardiner
General Tax: 5353
School Tax: 16731
Tax Assessed Value: 750000
Tax Legal Description: 45,2,338/336 Libertyville
Tax Lot: 45
Tax Block: 2
Zoning: RA Com 1
Directions: Rt 299 W over bridge, bear LEFT at Libertyville Rd. Property a few miles down on the Right.
General Property Information
Number Of Units Total: 15
Lot Size Acres: 1.1
Lot Size Dimensions: 1.1
Sign On Property YN: No
List Price/SqFt: 273.03
Sold Price/SqFt: 231.03
Living Area: 7142
Year Built: 1930
Remarks and Miscellaneous
Public Remarks: Unique investment opportunity with over a 9% cap rate! 2 Buildings, 1 Lot with 16 apartments Great location just a few miles outside the village of New Paltz & 90 miles from NYC Numerous capital improvements make this a solid investment. See Associated Docs for a detailed list but they include: new roof, electric panels and heavy wiring feeds, gas water heaters, septic tanks, well pump, pressure tank, and 5 newly installed heat pump units providing heat and air conditioning to the 12 apartments in the large building to name a few. Many details of stain glass and wooden beams, hardwood floors. A community garden is in the backyard and a stream runs along the property boundary.
Status Change Information
Status Change Timestamp: 2019-04-30
Buyer Financing: Seller Financing
Concessions Amount: 0
Major Change Timestamp: 2019-05-01T00:17:01Z
Major Change Type: Status Change
Purchase Contract Date: 2019-04-17
Close Date: 2019-04-30
Close Price: 1650000
Appliances
Electric Water Heater: 1
Water Heater: 1
Other: 1
Basement
None: 1
Book Information
Liber/Book: 1171
Page: 1094
Section: 86.3
Construction Materials
Brick: 1
Frame: 1
Stone: 1
Other: 1
See Remarks: 1
Cooling
Ceiling Fan(s): 1
Ductless: 1
Heat Pump: 1
Electric
100 Amp Service: 1
Flooring
Ceramic Tile: 1
Hardwood: 1
Heating
Baseboard: 1
Electric: 1
Heat Pump: 1
Propane: 1
Road Surface Type
Other: 1
Security Features
Fire Alarm: 1
Sewer
Septic Tank: 1
Showing Considerations
Occupied: 1
Income and Expenses
Cap Rate: 9
Electric Expense: 6924
Fuel Expense: 4970
Gross Income: 20500
Gross Scheduled Income: 246000
Insurance Expense: 13000
Manager Expense: 7405
Net Operating Income: 182651
New Taxes Expense: 22085
Other Income: 2880
Total Annual Expenses: 64816
Trash Expense: 2200
Location
Rural: 1
Building Features
Laundry Room: 1
Skylight(s): 1
Business Type
Residential: 1
Other: 1
Showing Requirements
24 Hour Notice: 1
Appointment Only: 1
Call Listing Agent: 1
Listing Agent Must Accompany: 1
Sale Includes
Building: 1
Showing Information
Showing Instructions: Call LA
Historical Information
UC Public Historical Remarks: Garage/Parking Extras: DRIVEWAY,LOT,OFF STREET, Age: 61-100, Water Source: Drilled Well
Location Tax and Legal
Street Number: 338/336
Street Name: Libertyville
Street Suffix: Road
County: Ulster
State: NY
Zip Code: 12561
Town (Taxable): Gardiner
Property Features
Appliances: Electric Water Heater; Water Heater; Other
Basement: None
Building Features: Laundry Room; Skylight(s)
Business Type: Residential; Other
Construction Materials: Brick; Frame; Stone; Other; See Remarks
Cooling: Ceiling Fan(s); Ductless; Heat Pump
Electric: 100 Amp Service
Flooring: Ceramic Tile; Hardwood
Heating: Baseboard; Electric; Heat Pump; Propane
Location: Rural
Road Surface Type: Other
Security Features: Fire Alarm
Sewer: Septic Tank
Showing Considerations: Occupied
Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent; Listing Agent Must Accompany
Sale Includes: Building
Listing Courtesy of BHHS HUDSON VALLEY PROP-NP
Listing Agent: Donna Brooks