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2 Family Rental Property. Turn key!
Rent roll $80,000 plus annually
Well
managed and maintained investment property located in SUNY College town, New
Paltz, Ulster County, NY. Located within walking distance from SUNY College
campus, Main Street and within an area of strong tourist locations including
Mohonk Mountain House, Shawangunk Mountains, Historic Huguenot Street and more.
100%
occupancy. Currently rented through July 2021 with strong cash flow. All leases
held by owner will be furnished at closing with security deposits and any
pre-paid rents.
8 bedrooms,
3 1/2 baths, 3,104 square
feet, according to town records. Oil heat in upstairs unit, electric heat
downstairs unit. Electric is
separately metered. Tenants pay rent with utility allowance, $6,540 per month.
Garage rented to long term tenant for $1,800 annually. Potential for additional
rental income as many bedrooms are large enough to accommodate 2 people.
Property
has hardwood floors, attractive built in closets and drawers, lots of closet
space and expansive front porch. Municipal water and sewer. Property built in
1890; owner has made significant changes including separating heat and electric,
gutter and drainage improvements, bathroom renovation, expanded parking lot, and
garage renovation.
Experienced landlord has grown his portfolio for over a decade with strong cash
flow and is now looking for other investments. This is the investment
opportunity you have been waiting for!
8 W Center Street (aka 2), Village of New Paltz, Tax
ID# 86.34-7-32
New
Paltz Central School District. Annual taxes $11,387, agents please verify.
Showing: Due to COVID 19 restrictions, no in person showings. Please view
photos online. Driving by properties is permitted, but DO NOT traverse
properties as they are fully rented and no direct contact with tenants is
allowed.
Pre-auction offers are welcomed. Broker Participation offered.
Click
here for form.
It's Easy to Bid!
1) Get a Username & Password at AARauctions.com
2) Register for the Online Only Auction
3) Complete Internet Bidding Packet via DocuSign link and you can
participate.
ANNOTATED TERMS OF AUCTION:
We have been contracted to sell this property at Public Auction. Get a Username
& Password at AARauctions.com, register for the Online-only Auction and
bring/mail our ‘Internet Bidding Packet’ containing the ‘Terms and Conditions’
and a $5,000 Guaranteed Funds/Bank check payable to: Absolute Auctions &
Realty, Inc. Mail to: AAR, POB 1739, Pleasant Valley, NY 12569 – no exceptions,
and you can participate. Credit Card Authorization Form in lieu of $5,000 bank
check/Guaranteed funds available. Complete your due diligence prior to bidding.
If successful, an electronic “Contract for Purchase and Sale NY Real Estate”
will be sent to you, sign contract, return by 4PM day after auction. 10% Buyer's
Premium. Close transaction on or before March 26. Time is of the essence.
Deposit will be refunded to unsuccessful bidders.
Property information: All informational tools, such as slides, tax maps,
deeds, photos, auction listings, auction catalogs, auction signs, property
record cards, etc., are for identification purposes only and are neither a
guarantee nor a warranty as to location, dimensions, parcel use and/or size, or
anything else.
Title & Liens: Property is sold with insurable title, free and clear of
adverse liens or encumbrances at closing.
Bidding Notes: The silent auction website has a “dynamic ending” feature; if
someone “sniper bids” on a lot at the scheduled end of the auction, the system
will extend the bidding clock two minutes to give everyone time to bid again. |
