172 Airport RdYulan, NY 12792

Property Details for 172 Airport Rd

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a well-established resort property nestled near Lake Washington in Eldred, New York. The property, located at 172 Airport Rd, Yulan, NY 12792, comprises a diverse portfolio of lodging options, including a 12-unit motel, four charming cottages, and eight apartments, totaling 26 units with 23 keys. Built in 1952, the property boasts approximately 4,320 square feet of floor space and is classified as a Class C hospitality and multifamily asset. The asking price is $1,195,000. While the cap rate is currently unavailable, the property offers significant potential for strong returns. Attractive financing terms are available, including a purchase money mortgage with a 30% down payment and a 70% loan at 6% interest-only for five years. This financing option includes no subordination, fees, or prepayment penalties, making it an exceptionally attractive proposition for investors. The property's diverse unit mix caters to a wide range of guests, from individual travelers to larger groups, offering significant revenue generation potential. This established resort presents a rare opportunity to acquire a profitable and versatile property in a desirable location. The property is currently configured as a mix of motel rooms, cottages, and apartments, providing flexibility for future development and operational strategies. This is an ideal opportunity for an investor seeking a turnkey operation with significant upside potential.

Location Insight

City

Yulan

County

Sullivan

State

New York

Latitude

41.5178

Longitude

-74.9355

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