1 Royal Acres Drive, Middletown, NY 10940
sale
$1,399,000
|
Other
Courtesy Of Keller Williams Hudson Valley Realty & United
One-of-a-kind 7-building residential rental property with 36 acres of land in the town of Mount Hope for sale. All 7 buildings have been updated, and some are still undergoing further renovations. Some of the units were used intermittently for Airbnb, while others have been rented out permanently as yearly rental units. The main house is 2,152 square feet with at least 2-3 bedrooms. Unit 2 is 1,772 square feet with 2 bedrooms. The remaining units are all 1-bedroom units. The annual income is $322,000 based on yearly rentals, with significantly higher earnings through Airbnb rentals from before. There is a pond and a large, old barn on the property. The rear of the property offers plenty of land that can be utilized. The surrounding area consists of single-family residential properties. This property is grandfathered as a residential-commercial property. It is located in a quiet and desirable MiniSink School District, not far from shopping and highways. The CAP rate is around 7% with the current $1.3MM sales price.
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Property Features
- Age: Over 50 Years Old
- Amenities: Pond
- Amenities: Water Front
- Building Units: 7
- Exterior Type: Frame
- Floors: 2
- Heating System: Propane (Heating)
- MLSID: 1007597
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