37-69 Mt. Ava Maria Drive, Phoenicia, NY 12464 (MLS# 20254524)

$1,900,000

37-69 Mt. Ava Maria Drive
Phoenicia, NY 12464
MLS# 20254524
30 beds

1 / 27

Property Description
Unique Investment Opportunity - An exceptional offering: a 19-unit multi-family compound located in the heart of one of the Hudson Valley's most beloved travel destinations; Phoenicia, New York. The property spans 8.54 picturesque acres, featuring four residential buildings that include: (3) Studios (5) One-bedroom units (9) Two-bedroom units (2) Three-plus-bedroom apartments The grounds are beautifully maintained with mature trees, open fields, ample parking, and direct access via a paved municipal street. Currently delivering a cap rate of 8.71 with clear potential for increased returns. Endless possibilities: continue operating as a high-yield rental property, or reimagine it as a family retreat, community living space, etc. Rich History - The existing structures were once part of the 1878 Tremper House of Phoenicia, a grand hotel that overlooked the town and the surrounding Catskill Mountains. Later renamed the Washington Inn, it was known for its luxurious accommodations before being largely destroyed by fire in 1908. Remaining original structures include what were once the carriage house, horse stalls, two-lane bowling alley, chapel, private cottages, and parts of the original hotel. Notable historic features like the music gazebo and water fountain still exist and await restoration. Highlights - Family owned for over 50 years. Rents are currently below market, offering significant upside. Long-term tenants provide reliable income. New roofs on all four buildings (within last 6 years). On-site coin-operated laundry room. Heating system under regular service contract. Ideal Location: 15 minutes to Woodstock. 30 minutes to Uptown Kingston and the NYS Thruway traffic circle. Walking distance to downtown Phoenicia, with bus service to/from NYC. Close to top local attractions: Empire State Railroad Museum, Emerson Spa and Kaleidoscope, Woodland Valley Museum, Catskill Rail Explorers, Esopus Creek (for fly fishing), hiking trails, mountain climbing, and premier restaurants. Nearby winter resorts include Belleayre, Catamount, Hunter Mountain, and Windham Mountain Club.

Details

Documents

Contract Information

Lease Term: Month To Month

Availability Date: 2025-09-20

Listing Agreement: Exclusive Right To Sell

Owner Name: Win-Law Corp

Lease Considered YN: Yes

Current Price: $1,900,000

Original List Price: 1900000

List Price: $1,900,000

Status: Active

Listing Contract Date: 2025-09-20

Property Sub Type: Multi Family

Location, Tax, and Legal

911 Address: 37-67 Ava Maria Drive

Township: Shandaken

School District: Onteora Central School District

General Tax: 10987

School Tax: 9843

Tax Annual Amount: 20830

Tax Year: 2025

Assessors Full Market Value: 1117647

Tax Assessed Value: 190000

Tax Legal Description: 411 Apartment

Parcel Number: 14.1-2-2.100

Tax Lot: 2

Tax Block: 2.100

Tax Exemptions YN: Yes

Zoning: Res

Directions: West on Route 28 to Bridge Street, over the Esopus Creek to intersection on Main Street. Go straight through intersection, past the post office on right, up the hill. Continue past Skyrise sign.

General Property Information

Number Of Units Total: 19

Above Grade Finished Area: 0

Below Grade Finished Area: 0

Lot Size Acres: 8.54

New Construction YN: No

Garage YN: Yes

Attached Garage YN: No

Garage Spaces: 0

Sign On Property YN: No

Disclaimer: Buyer's agent to verify all pertinent information. Proof of funds prior to viewing apartments.

Units Furnished: None

Rent Control YN: No

Bedrooms Total: 30

Year Built: 1870

Remarks and Miscellaneous

Public Remarks: Unique Investment Opportunity - An exceptional offering: a 19-unit multi-family compound located in the heart of one of the Hudson Valley's most beloved travel destinations; Phoenicia, New York. The property spans 8.54 picturesque acres, featuring four residential buildings that include: (3) Studios (5) One-bedroom units (9) Two-bedroom units (2) Three-plus-bedroom apartments The grounds are beautifully maintained with mature trees, open fields, ample parking, and direct access via a paved municipal street. Currently delivering a cap rate of 8.71 with clear potential for increased returns. Endless possibilities: continue operating as a high-yield rental property, or reimagine it as a family retreat, community living space, etc. Rich History - The existing structures were once part of the 1878 Tremper House of Phoenicia, a grand hotel that overlooked the town and the surrounding Catskill Mountains. Later renamed the Washington Inn, it was known for its luxurious accommodations before being largely destroyed by fire in 1908. Remaining original structures include what were once the carriage house, horse stalls, two-lane bowling alley, chapel, private cottages, and parts of the original hotel. Notable historic features like the music gazebo and water fountain still exist and await restoration. Highlights - Family owned for over 50 years. Rents are currently below market, offering significant upside. Long-term tenants provide reliable income. New roofs on all four buildings (within last 6 years). On-site coin-operated laundry room. Heating system under regular service contract. Ideal Location: 15 minutes to Woodstock. 30 minutes to Uptown Kingston and the NYS Thruway traffic circle. Walking distance to downtown Phoenicia, with bus service to/from NYC. Close to top local attractions: Empire State Railroad Museum, Emerson Spa and Kaleidoscope, Woodland Valley Museum, Catskill Rail Explorers, Esopus Creek (for fly fishing), hiking trails, mountain climbing, and premier restaurants. Nearby winter resorts include Belleayre, Catamount, Hunter Mountain, and Windham Mountain Club.

Status Change Information

Status Change Timestamp: 2025-09-23

Back on Market Date: 2025-09-23

Major Change Timestamp: 2025-09-23T13:41:49Z

Appliances

Range: 1

Refrigerator: 1

Washer/Dryer: 1

Book Information

Liber/Book: 1183

Page: 1113

Section: 14.1-2-2.1

Laundry Features

Laundry Room: 1

Other Structures

Gazebo: 1

Shed(s): 1

Storage: 1

Workshop: 1

See Remarks: 1

Parking Features

Additional Parking: 1

Gravel: 1

Paved: 1

Roof

Asphalt: 1

Membrane: 1

Sewer

Cesspool: 1

Septic Tank: 1

Other: 1

Showing Considerations

See Remarks: 1

Structure Type

Multi Family: 1

Water Source

Public: 1

Income and Expenses

Financials Available Y/N: Yes

Cap Rate: 8.71

Gross Income: 295482

Net Operating Income: 165175

Total Annual Expenses: 130307

Owner Pays

All Utilities: 1

Electricity: 1

Gas: 1

Grounds Care: 1

HVAC Maintenance: 1

Insurance: 1

Janitorial Service: 1

Management: 1

Oil: 1

Repairs: 1

Snow Removal: 1

Taxes: 1

Water: 1

Showing Requirements

Appointment Only: 1

Call Listing Agent: 1

Listing Agent Must Accompany: 1

Restricted Hours: 1

See Remarks: 1

Location Tax and Legal

Street Number: 37-69

Street Name: Mt. Ava Maria

Street Suffix: Drive

County: Ulster

State: NY

Zip Code: 12464

Town (Taxable): Shandaken

Property Features

Appliances: Range; Refrigerator; Washer/Dryer

Laundry Features: Laundry Room

Other Structures: Gazebo; Shed(s); Storage; Workshop; See Remarks

Owner Pays: All Utilities; Electricity; Gas; Grounds Care; HVAC Maintenance; Insurance; Janitorial Service; Management; Oil; Repairs; Snow Removal; Taxes; Water

Parking Features: Additional Parking; Gravel; Paved

Roof: Asphalt; Membrane

Sewer: Cesspool; Septic Tank; Other

Showing Considerations: See Remarks

Structure Type: Multi Family

Water Source: Public

Showing Requirements: Appointment Only; Call Listing Agent; Listing Agent Must Accompany; Restricted Hours; See Remarks

Listing Courtesy of Off The Wall Management LLC

Listing Agent: Margaret Bryngelson

Information deemed reliable but not guaranteed.