This exclusive opportunity features a portfolio of nine properties in Philmont, NY, offering a mix of residential units across various addresses, all within a few block radius. The seller, a seasoned investor, prefers to sell the portfolio as a whole, though individual sales are possible. This portfolio offers an immediate income-generating investment with a projected NOI of $433,661. With a mix of fully renovated units and others primed for upgrades, the portfolio promises both stability and growth potential. Each property has been maintained by the owner, who employs a team of contractors and utilizes DoorLoop for seamless property management. This portfolio offers immediate returns and long-term appreciation in a market with rising property values and increasing demand.Portfolio Highlights:Located in the up-and-coming village of Philmont, NY in the Hudson Valley, attracting both locals and city dwellers.62 Main Street nearing completion of extensive renovation. This key building will feature 5 newly renovated units, a fully restored facade, new insulation, replacement of central oil heat with electric heating in each unit, and all new bathrooms.National Parks and SHPO historic restoration tax credits have been approved for both buildings at 7 Church Street. These approvals are transferable with the sale, reducing renovation costs for investors.Strong mix of unit sizes--from 1-bedroom units to larger 3-bedroom duplexes--offering a variety of rental options.Low landlord expenses on renovated properties. Recent upgrades, including new HVAC systems and electric heating, reduce operational costs and increase profitability.Transferable management software. The current owner uses the state-of-the-art DoorLoop online system to manage tenants and maintenance, leasing, applications, background checks, and rent collections, which can easily be transferred to new ownership.Opportunities for value-add improvements. Several units and buildings are vacant or under renovation, offering investors the chance to enhance value through continued upgrade
Property Details
Property Features
Property Information:
Living Area: 34,576 SqFt
Listing Office:
Office Name: Houlihan Lawrence Inc.
Listing Agent: Rachel Haley
Interior Features
Interior Information:
Basement: Yes
Other
Directions Information:
Directions: From 217 East Philmont, left on Church St. Buildings down block. Elm St., Canal St., and Main St., buildings within walking distance.
Price Information
Listing Price Info
Price Summary:
List Price: $4,925,000
Price Per SqFt: $142/SqFt
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Housing Market Comparison
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This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. Last updated on: 12/21/2024, 7:16:08 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
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Nearby Schools
5
/10
Webutuck Elementary School
175 Haight Rd
Distance between this listing and this school4.87 miles
Public District Grades PK-4
5
/10
Seymour Smith Intermediate Learning Center
41 Academy St
Distance between this listing and this school7.27 miles
Public District Grades 2-5
7
/10
Undermountain Elementary
491 Berkshire School Rd
Distance between this listing and this school12.54 miles
Public District Grades PK-6
Nearby Schools
7
/10
Salisbury Central School
45 Lincoln City Road
Distance between this listing and this school3.91 miles
Public District Grades PK-8
3
/10
Eugene Brooks Middle School
194 Haight Rd
Distance between this listing and this school4.98 miles
Public District Grades 5-8
8
/10
North Canaan Elementary School
90 Pease St
Distance between this listing and this school10.63 miles
Public District Grades PK-8
Nearby Schools
4
/10
Webutuck High School
194 Haight Rd
Distance between this listing and this school4.98 miles
Public District Grades 9-12
5
/10
Housatonic Valley Regional High School
246 Warren Tpke
Distance between this listing and this school7.82 miles
Public District Grades 9-12
6
/10
Stissing Mountain Junior/Senior High School
2829 Church St
Distance between this listing and this school7.98 miles
The neighbors living near this home have an average income of $55,390. The most common annual income of people living in Millerton, NY is between $35k-100k. Most families are single, no kids. Residents of this area typically have high school diploma education.
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This home is located at 20 Church St in Claverack, NY and zip code 12565. It has been listed on Rocket Homes since December 18, 2024 and is currently priced at $4,925,000.
Millerton, NY housing market in November 2024 saw over 1 listings sold above listed price, more than 0 sold at listed price and over 0 sold below. The number of listings in Millerton, NY increased by 6.7% between October 2024 and November 2024. While the average time on the market in November 2024 was 9 days, the median list price was $400,000.
From Rocket Homes Real Estate and based on county public records data.
Information should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2024 Columbia Greene Northern Dutchess Multiple Listing Service. All rights reserved.
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