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6
Multi-Family

$300,000

29-31 Orchard Place

Poughkeepsie, NY 12601

Turn Key Rental- Marist College- Walk to Campus!

Huge Duplex! Two (2) separate three-bedroom, one-bathroom townhouses -- each with their own laundry machines, separate mechanicals, walk-out basements, large attics and off-street parking. Large rooms, high ceilings, large remodeled kitchens, 2 enclosed front porches, fenced backyard with large paved driveway. The house is fully rented through May 2019 to Marist College Students. Tenants pay all utilities including water/sewer. 



This house is located within close proximity to three colleges in Poughkeepsie NY: 0.49 miles to Marist College, 1.51 miles to Dutchess County Community College, 2.35 miles to the Culinary Institute of America (CIA), 2.32 miles to Vassar College. 


See the accompanying 3D Fly-Thru tour.

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Property Details
Property TypeMulti-Family
Beds6
Baths2.0
Units2
Units Sq Ft1,440 - 0
Buildings1
Stories3
Lot Size0.12 Acres
Total Sq Ft2,880
ZoningR3A
Years Built1938
Years Renovated2010, 2018
Parking6 Spaces
SBL6162/53/071399
OwnershipLLC/Corp
Current OccupancyRented
(6/1/2017 - 5/31/2018)
Future OccupancyRented
(6/1/2018 - 5/31/2019)
Financials
Asking Price $300,000
NOI $34,700
Cap Rate 11.57%
Price / Bedroom $50,000
Price / Sq Ft $104
Price / Unit $150,000
Earnest Money Deposit 20%
Due Diligence Period 60 Days
Closing Period 30 Days

Investment Highlights

Well maintained rental with all new upgrades to major structural components over the last 10 years, which includes: 

  •  New roof  
  • New heating systems 
  • New hot water tank
  • New chimney liner installed 2014 and onverted to natural gas heat
  •  Vinyl double pane windows throughout 
  •  Walkout finished basement remodeled in 2013 
  •  New refrigerator installed in 2016
  •  New clothes washer and dryer installed in 2013 
  •  New Windows installed on both front porches 2013 
  •  Re-paved driveway 2016 

 Tenants pay all utilities and currently are billed for water/sewer usage and garbage collection.

 House includes the following appliances: (2) refrigerators, (1) electric stove/oven and (1) gas oven, (2)   microwaves, (2) dishwashers, (2) clothes washers and (2) clothes dryers. 

Working smoke and CO2 detectors (2) 100-amp electrical panels

Photos

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