Description
Welcome to 450 Mountain Ave in the charming hamlet of Purling and town of Cairo. Here you will find an exceptional investment opportunity in the form of a historic multi-unit property that offers a range of desirable features. Situated on the main street of Purling, this property consists of four 2-bedroom/1-bathroom apartments, each thoughtfully designed with a living room, kitchen, and off-street parking space. There is a spacious covered front porch and expansive cleared backyard, offering perfect spaces for tenants to relax, unwind, and enjoy outdoor activities. For added convenience, mailboxes for each apartment are located across the street, making it easy for tenants to collect their mail. Additionally, the property features a detached 2-car garage with an upstairs loft area that is currently being utilized for storage. There is ample off-street parking available for up to ten cars; plenty of spots for both tenants and their visitors. The entire building underwent significant renovations in 2009 and 2018, ensuring modern amenities and appealing aesthetics throughout. With these updates, the property displays a captivating blend of historic charm and contemporary comforts. Considering the current asking price, this investment opportunity boasts an attractive cap rate of approximately 8.23%. This indicates a promising return on investment for potential buyers seeking to add this property to their portfolio. Do not miss your chance to own a gem in this charming hamlet situated in the heart of Greene County and just under 2.5 hours from NYC.
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8BEDS
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0.36ACRES
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4BATHS
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01/2 BATHS
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3,616SQFT
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$126$/SQFT
Description
Welcome to 450 Mountain Ave in the charming hamlet of Purling and town of Cairo. Here you will find an exceptional investment opportunity in the form of a historic multi-unit property that offers a range of desirable features. Situated on the main street of Purling, this property consists of four 2-bedroom/1-bathroom apartments, each thoughtfully designed with a living room, kitchen, and off-street parking space. There is a spacious covered front porch and expansive cleared backyard, offering perfect spaces for tenants to relax, unwind, and enjoy outdoor activities. For added convenience, mailboxes for each apartment are located across the street, making it easy for tenants to collect their mail. Additionally, the property features a detached 2-car garage with an upstairs loft area that is currently being utilized for storage. There is ample off-street parking available for up to ten cars; plenty of spots for both tenants and their visitors. The entire building underwent significant renovations in 2009 and 2018, ensuring modern amenities and appealing aesthetics throughout. With these updates, the property displays a captivating blend of historic charm and contemporary comforts. Considering the current asking price, this investment opportunity boasts an attractive cap rate of approximately 8.23%. This indicates a promising return on investment for potential buyers seeking to add this property to their portfolio. Do not miss your chance to own a gem in this charming hamlet situated in the heart of Greene County and just under 2.5 hours from NYC.
© 2023 Columbia Greene and Northern Dutchess MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Core Real Estate Team. Data last updated: 2023-12-04T16:46:41.67.