77 Academy Street

Poughkeepsie, NY 12601

$695,000
Multi Family Townhouse

AGENTS

Douglas Elliman
Douglas Elliman
Source of Data:
OneKey MLS

Property Description

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This is an extraordinary opportunity for buyers or investors alike. 77 Academy Street was originally built in 1890 and has been impeccably renovated into three separate three-bedroom floor through apartments that retain the grandeur of the original architecture while upgrading the interiors to modern luxury. It is located in one of Poughkeepsie's most dynamic neighborhoods with the new food hall sensation The Academy located half a block away, the acclaimed Barrett Art Gallery literally right around the corner and within walking distance of all of Main Street's amazing restaurants and the Poughkeepsie Metro North railroad station. Currently vacant it has a projected rent roll of $60,000 for an owner user, which would mean you're not just living for free but you're making over $1,300 a month even with a 7 percent mortgage, while for investors the house fully rented at a projected $90,000 a year in revenue is a pre-tax cap rate return of over 13 percent!! And operating expenses don't take that down very far at all, taxes are just $4,400 a year and with brand new mechanicals it means that the owner only pays for taxes and water while the future residents pay for all of their utilities, including heat. With two development sites nearby on the market in the millions be ahead of the curve and buy now before neighborhood prices jump through the roof. Agents, see other remarks for more information.
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PROPERTY DETAILS

  • Interior
    4,000 Sq Ft.
  • Exterior
    .09 Acres
  • Property Type
    Multi Family Townhouse
  • MONTHLY REAL ESTATE TAX
    $367
  • ANNUAL REAL ESTATE TAX
    $4,400
  • Year Built
    1900
  • MLS/Listing ID
    H6218324

BUILDING/PROPERTY DETAILS

  • Brick
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Listing Courtesy of Century 21 Hudson Valley Rlty. - 845-454-6334

Information Copyright 2021, OneKey™ MLS. All Rights Reserved.

LOCATION

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TRAVEL TIMEFROMPoughkeepsie
TYPE OF TRANSPORTATION