1 Royal Acres Drive, Middletown, NY 10940
- $1,399,000
- List Price
- $1,399,000
- Days on Market
- 103
- MLS#
- 1007597
- Status
- ACTIVE
- Property Type
- Multi Family
- Year Built
- 1945
- Property Tax
- $17,257
- Neighborhood
- Middletown
- School District
- Minisink Valley
- High School
- Minisink Valley High School
- Jr. High
- Minisink Valley Middle School
- Elementary School
- Otisville Elementary School
Property Description
One-of-a-kind 7-building residential rental property with 36 acres of land in the town of Mount Hope for sale. All 7 buildings have been updated, and some are still undergoing further renovations. Some of the units were used intermittently for Airbnb, while others have been rented out permanently as yearly rental units. The main house is 2,152 square feet with at least 2-3 bedrooms. Unit 2 is 1,772 square feet with 2 bedrooms. The remaining units are all 1-bedroom units. The annual income is $322,000 based on yearly rentals, with significantly higher earnings through Airbnb rentals from before. There is a pond and a large, old barn on the property. The rear of the property offers plenty of land that can be utilized. The surrounding area consists of single-family residential properties. This property is grandfathered as a residential-commercial property. It is located in a quiet and desirable MiniSink School District, not far from shopping and highways. The CAP rate is around 7% with the current $1.3MM sales price.
Additional Information
- Acres
- 36
- Parking
- Driveway, Private
- Stories
- 2
- Heating
- Propane
- Cooling
- None
- Water
- Well
- Sewer
- Septic Tank
Mortgage Calculator
Listing courtesy of Listing Agent: Jonathon Z. Lee (jonlee@kw.com) from Listing Office: Keller Williams Hudson Valley.
Listings courtesy of OneKey® MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.