Listing Provided by Berardi Realty
451 Washington Ave Ext., Saugerties
Sprawling 27 unit building with a 1-bedroom managers apartment. Building is currently being rented as SRO (single room occupancy) with each room having its own private bath. The 10,000+ square foot building is split into 4 suites, each suite has its own full kitchen, dining area, living room and then 6-7 bedrooms, each with its own full bath. This property can lend itself to a Hotel (as it was previously used), Inn, Senior Residence or SRO rentals etc. Building has just been updated with all new HVAC (heat and ac), high efficiency propane units along with many other updates. Units are now being rented between $700-$1,000 a month depending on the room size and bathroom layout. Please see attached info in associated doc's for County Records, CO & Floor Plans. Cap rate at projected (conservative) rents and expenses is 14% at asking price. Master Lease, Rent With Option To Buy or Straight sale considered. Property is located about 1/2 mile from Saugerties Village center and surrounded by/close to, Horse Show properties, Cantine Sports Complex, indoor Ice Arena, Mini-golf, Go-carts and Skate Park. Excellent location for Airbnb, hotel or straight rentals. Building is fully furnished along with a full laundry facility with 5+ coin operated washers and dryers. List agent is part owner.
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