99-103 Partition Street

Description

Welcome to Saugerties, NY, where a remarkable investment opportunity awaits you! This iconic multi-family building, being offered for the first time in almost four decades, presents a rare chance to own a piece of local history. Meticulously maintained by the current owner, this property boasts a range of features that make it an exceptional investment. Situated in the heart of the village of Saugerties, this property offers convenience and accessibility. The building comprises three structures: two brick buildings, each housing incredible storefronts, and a converted block carriage house. The storefronts are currently occupied by two thriving businessesa high-end beauty salon and a boutique clothing shopproviding a stable income stream. Within the main buildings, you'll find fifteen generously sized apartments that cater to a variety of living preferences. From expansive loft-style one-bedroom units to cozy efficiencies and studios, this property has something for everyone. Each unit has been thoughtfully designed, with ample space exceeding standard measurements. Long-term tenants currently occupy all units, providing a steady and reliable rental income. There is also coin laundry facilities for ease of tenants It's worth noting that several tenants have rental assistance through RUPCO and ARC programs, ensuring that rent payments are guaranteed month after month. This stability adds another layer of security to this outstanding investment opportunity. Included in the sale is an additional lot located behind the three buildings. This lot offers parking space for over 20 cars, serving the needs of both the residents and businesses. Additionally, this extra lot presents the possibility of constructing another building, with water and electricity already running to it, and it parallels the Saugerties municipal parking lot making it a valuable asset for future expansion or development. With a full basement providing easy access to utility services, this property offers convenience for maintenance and operations. The well-maintained apartments lining Partition St extend the charm of the brick buildings, creating a cohesive and attractive streetscape. Don't miss out on this once-in-a-lifetime opportunity to own a multifaceted investment property in Saugerties. With its two beautiful storefronts, fifteen well-appointed apartments, full basement access, and an additional building lot currently utilized for parking, this property is sure to impress even the most discerning investor. Act now and secure your future in this vibrant and thriving community!

Extras: A great opportunity to finally have an income property that runs with minimal upkeep - tenants have leases and some are month to month - all rents below current market value