949 Ulster Heights Road 949 County Route 52, Ellenville

$975,000

0 Beds
0 Baths
4,500 Sqft
74.6 Acres
0 Garages

Cabin-hood with investment potential. This is what the Catskills have always been about: summers by the pool, fishing and canoeing on the lake, evenings around the campfire with friends, family or complete strangers enjoying the stars and the quiet. Designed by architect Nancy Copley, there are currently six units (3 structures). Final plans show twelve units (6 structures). Currently 3 of the 6 initially planned units are finished and rent out for $185/night each. The second structure is almost finished and the third structure would need to be resumed. Numbers translate to roughly 120k + gross income when units that are currently in progress are completed; significant additional income streams possible, including completing a communal building that could be used for retreats, events, etc. In addition, there are two vintage structures that could clean up nicely and possibly be used as summertime rentals during the interim while new units are being completed. There are also other vintage structures to be explored, revived and/or removed. The 70+ acres have the beginnings of some really lovely trails and logging roads. A fantastic opportunity to run a modern-day bungalow colony or possibly convert to condominiums. Nancy Copley was an architect who specialized in designs that reflect and harmonize with beautiful and unusual natural sites and you will appreciate that sensitivity in the design of these cottages and this setting. Two acre pond is spring fed from underneath and flows out to Cape Pond. In the past it has been stocked with bass, catfish, perch, sunfish and carp. Pond is used for swimming, also.

Property History
Price Reduced from $999,000 to $975,000
Price Reduced from $1,100,000 to $999,000
Price Reduced from $1,200,000 to $1,100,000

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