79 Green StKingston, NY 12401

Property Details for 79 Green St

Year built

1945

Lot size

0.24 AC

Property size (Sq ft)

8,186 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 22-unit multifamily property situated in the vibrant Uptown Kingston area of New York. The 8,186 square foot building sits on a 0.24-acre lot and is offered at $1,850,000. The property boasts a compelling cap rate exceeding 9%, reflecting its strong income-generating potential. The unit mix includes a combination of one-bedroom apartments, studios, and single-room occupancy units, catering to a diverse tenant base. Recent renovations have significantly enhanced the property's appeal, encompassing new flooring, kitchenettes, bathrooms, and common areas. The building features four living levels and a convenient shared coin-operated laundry facility located on the finished lower level. Constructed of low-maintenance brick, the exterior requires minimal upkeep. The property benefits from an easy-to-manage structure, with tenants responsible for their own rent payments, while the owner covers all utilities. High demand for small rental units in Kingston ensures consistently high occupancy rates and low vacancy, making this a truly attractive investment prospect. Approximately half of the units are single room occupancy units with shared bathrooms. This property represents a rare chance to acquire a well-maintained, high-performing multifamily asset in a thriving urban location.

Location Insight

City

Kingston

County

Ulster County

State

New York

Latitude

41.9317

Longitude

-74.0204

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