753-759 Broadway, Kingston, NY 12401 (MLS# 20135143)
$1,025,000
Kingston, NY 12401
MLS# 20135143
Status: Closed
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Property Description
SOLID 20 UNIT APARTMENT COMPLEX CENTRALLY LOCATED NEAR HISTORIC UPTOWN & NYS THRUWAY EXIT 19 KINGSTON. PROPERTY IS COMPRISED OF TWO BRICK BUILDINGS, A 18 UNIT, 3 STORY & ADJACENT 2 UNIT, 2 STORY. COMPLEX HAS AMPLE PARKING FOR 40 + CARS & GREAT ACCESSIBILITY TO SHOPPING, PUBLIC TRANSPORTATION & MAJOR COMMUTER ROADWAYS. EACH APARTMENT HAS ITS OWN NATURAL GAS HEATING SYSTEM & ELECTRIC METER. CAP RATE AT ASKING PRICE IS 9%, INCLUDES ALL EXPENSES, MAINTENANCE, LL UTILITIES, TAXES, GARBAGE & VACANCY.
Details
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: Wind Atlantis Mgmt
Owner Phone: C/O LR
Occupant Name: TENANTS
Current Price: $1,025,000
Original List Price: 1300000
Sold Price: $1,025,000
Status: Closed
Listing Contract Date: 2013-10-29
Property Sub Type: Multi Family
Location, Tax, and Legal
Elementary School: G.Washington K-4
General Tax: 17953
School Tax: 25234
Tax Assessed Value: 864000
Tax Legal Description: 3.1/2, 2, 753-759 BROADWAY
Tax Lot: 3.1/2
Tax Block: 2
Zoning Description: COMMERCIAL
Directions: FROM NYS THRUWAY EXIT 19, TAKE TRAFFIC CIRCLE TO COL. CHANDLER DR. TO END. GO THRU LIGHT, PROPERTY ON RIGHT
General Property Information
Number Of Units Total: 20
Lot Size Acres: 0.6
Lot Size Dimensions: 168X155
Association YN: No
Garage YN: Yes
Attached Garage YN: No
Garage Spaces: 1
Sign On Property YN: No
Year Built: 1950
Remarks and Miscellaneous
Public Remarks: SOLID 20 UNIT APARTMENT COMPLEX CENTRALLY LOCATED NEAR HISTORIC UPTOWN & NYS THRUWAY EXIT 19 KINGSTON. PROPERTY IS COMPRISED OF TWO BRICK BUILDINGS, A 18 UNIT, 3 STORY & ADJACENT 2 UNIT, 2 STORY. COMPLEX HAS AMPLE PARKING FOR 40 + CARS & GREAT ACCESSIBILITY TO SHOPPING, PUBLIC TRANSPORTATION & MAJOR COMMUTER ROADWAYS. EACH APARTMENT HAS ITS OWN NATURAL GAS HEATING SYSTEM & ELECTRIC METER. CAP RATE AT ASKING PRICE IS 9%, INCLUDES ALL EXPENSES, MAINTENANCE, LL UTILITIES, TAXES, GARBAGE & VACANCY.
Status Change Information
Status Change Timestamp: 2014-06-01
Buyer Financing: Conventional
Concessions Amount: 0
Major Change Timestamp: 2014-02-02T20:01:25Z
Major Change Type: Status Change
Purchase Contract Date: 2014-01-02
Close Date: 2014-02-02
Close Price: 1025000
Appliances
Gas Water Heater: 1
Range: 1
Refrigerator: 1
Association Amenities
Laundry: 1
Attic Features
Pull-Down Stairs: 1
Other: 1
Basement
Full: 1
Book Information
Liber/Book: 5119
Page: 253
Section: 56.59
Construction Materials
Brick: 1
Stone: 1
Cooling
Central Air: 1
Electric
200+ Amp Service: 1
Flooring
Carpet: 1
Ceramic Tile: 1
Hardwood: 1
Linoleum: 1
Heating
Forced Air: 1
Natural Gas: 1
Interior Features
High Speed Internet: 1
Listing Terms
Lease Option: 1
Lot Features
City Lot: 1
Landscaped: 1
Level: 1
Other Structures
Second Garage: 1
Parking Features
Driveway: 1
Paved: 1
Plumbing
Mixed: 1
Road Surface Type
Asphalt: 1
Roof
Asphalt: 1
Membrane: 1
Shingle: 1
Security Features
Carbon Monoxide Detector(s): 1
Security System: 1
Smoke Detector(s): 1
Sewer
Public Sewer: 1
Showing Considerations
Occupied: 1
Structure Type
Multi Family: 1
Water Source
Public: 1
Documents Available
Rent Roll: 1
Income and Expenses
Cap Rate: 9
Electric Expense: 2000
Fuel Expense: 2500
Gross Scheduled Income: 194808
Insurance Expense: 6500
Monthly Income: 16234
Net Operating Income: 116537
New Taxes Expense: 43187
Other Expense: 5844
Other Income: 0
Professional Management Expense: 1200
Supplies Expense: 3560
Total Annual Expenses: 78271
Trash Expense: 4740
Water Expense: 8776
Owner Pays
Insurance: 1
Repairs: 1
Sewer: 1
Taxes: 1
Trash Collection: 1
Water: 1
Other: 1
Tenant Pays
Electricity: 1
Gas: 1
Showing Requirements
Call Listing Agent: 1
Showing Information
Showing Instructions: CALL GREG 389-7895
Historical Information
UC Public Historical Remarks: FIPS Code: NY111, Kitchen Description: Cabinets Wood, Terms: To Qual. Buyer, Age: 41-60, Style: Apt. Complex, Lease Type: Month To Month,One Year, View: Seasonal
Location Tax and Legal
Street Number: 753-759
Street Name: Broadway
State: NY
Zip Code: 12401
Town (Taxable): Kingston,City
Property Features
Appliances: Gas Water Heater; Range; Refrigerator
Association Amenities: Laundry
Attic Features: Pull-Down Stairs; Other
Basement: Full
Construction Materials: Brick; Stone
Cooling: Central Air
Documents Available: Rent Roll
Electric: 200+ Amp Service
Flooring: Carpet; Ceramic Tile; Hardwood; Linoleum
Heating: Forced Air; Natural Gas
Interior Features: High Speed Internet
Listing Terms: Lease Option
Lot Features: City Lot; Landscaped; Level
Other Structures: Second Garage
Owner Pays: Insurance; Repairs; Sewer; Taxes; Trash Collection; Water; Other
Parking Features: Driveway; Paved
Plumbing: Mixed
Road Surface Type: Asphalt
Roof: Asphalt; Membrane; Shingle
Security Features: Carbon Monoxide Detector(s); Security System; Smoke Detector(s)
Sewer: Public Sewer
Showing Considerations: Occupied
Structure Type: Multi Family
Tenant Pays: Electricity; Gas
Water Source: Public
Showing Requirements: Call Listing Agent
Listing Courtesy of Win Morrison Realty-K
Listing Agent: Gregory Berardi