This special home from 1900 offers a unique opportunity for an investor or anyone who wants to spend all or part of their time in this area while offseting their costs with significant rental income OR dedicating one floor to home offices, guest space, etc.
Fully renovated multi-family properties with a ton of character PLUS easy access to nature, public transport to/from NYC, and ALL of the reasons people love to spend time in this area are a total rarity. Located under 15 minutes from New Paltz, Gardiner, Minnewaska State Park, the Mohonk Preserve - and just a short distance more to Kerhonkson, Accord, Kingston, High Falls, Rosendale, and Stone Ridge - the home easily attracts visitors coming to the region for all kinds of reasons, including weddings, SUNY New Paltz, and more. You can even go just around the corner to the Tuthilltown Distillery for tours or tastings!
The current owners split their time between NYC and would rent out one or, occasionally, both apartments when they weren't using them. They renovated the entire building with a new septic system, plumbing, electricity, kitchens, bathrooms, skylight, porch, and interior and exterior painting - and would consider selling the home entirely furnished (to be discussed after contract).
The backyard has a small fence to give privacy and outdoor access to each unit. The projected gross income for a full-time Airbnb with 75% occupancy would be close to $100,000, but for a long-term unfurnished rental (which is in very short supply at the moment!), it would still be half that amount - and with fewer costs and maintenance.
Happy to provide more information regarding income and expenses to any interested parties! Financial projections below are for long-term unfurnished rental.
0.25 Acres lot
Speak to one of our agents to schedule a tour or to learn more about this property.