147 Washington Avenue, Kingston, NY

About 147 Washington Avenue

Located in the heart of historic Kingston, The Uptowner is a stylishly renovated two-family home offering an outstanding opportunity for investors––or owner-occupants looking to offset their mortgage. The property features two separate units, each with its own entrance and all utilities separated, including water & sewer. On the lower level is a roomy one bedroom unit, accessed from the rear of the house, while upstairs is a two bedroom unit, entered from the front door and up an interior stairwell. With a new roof in 2018, and gut-renovation in 2020, the building features all new interiors, new mechanicals, laundry and dishwashers in both units, and fresh kitchens and bathrooms. The building also features covered off-street parking, and a grassy fenced yard backing up to woods. Residing in the flexible T4 Neighborhood zoning code, this property allows for full-time/non-owner-occupied short-term rental, subject to Sec 405.21.D of Kingston's zoning code. The first floor is currently used as a high-performing, and fully-licensed, short-term rental. All furnishings in this unit are available for purchase, making it a turnkey opportunity for a new owner. The upper unit is long-term tenant occupied, with tenant vacating April 30. Based on income from the building's current use as a mix of both long-term and short-term rentals, the property is priced at a very healthy 9.7% CAP Rate. Could also easily be converted back to a single-family home, as well. Whatever you choose, you can't lose!! Don't miss this low-maintenance and cash-flowing opportunity in prime Uptown Kingston––convenient to shopping, dining, parks, public transit, and bus service to/from NYC.

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