7 Wiltwyck Avenue & 5 Additional Multi Fams, Kingston
Rare opportunity to buy into one of the hottest markets in the Hudson Valley today, with easy to realize, significant upside potential. A total of 6 multi-family buildings make up this 21 unit portfolio. One building is located in the stockade district, four in the newly redone midtown area, and a stately brick 4-family in the Rondout district. Most are newly renovated, and these buildings offer a current NOI of just under $80k, reflecting 5 units vacant and ready to be leased. Fully leased NOI is $188k, a 8.5% cap rate at the asking price. Pro forma is $250k+ NOI. This portfolio is being offered at a discount due to 3 tenant in arrears, and 5 units vacant. Properties: 1. 7 Wiltwyck Ave (SBL 48.318-7-9) 2. 60 Franklin St (SBL 56.93-1-3) 3. 52 Van Buren St (SBL 56.109-1-9) 4. 54 Van Buren St (SBL 56.109-1-8) 5. 357 Washington Ave (SBL 48.330-1-9) 6. 2-8 Walnut St (SBL 56.36-4-9). THIS IS A PACKAGE DEAL. Complete financials available in associated MLS docs or contact the agent.
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