38 Plattekill Avenue, New Paltz, NY 12561

Property Description

RARE AND EXCELLENT INVESTMENT OPPORTUNITY - to own one of the most recognizable houses in New Paltz. This beautiful brick traditional has unique architectural features inside and outside, arched entryways and original hardwood floors throughout. This house is an extremely sought out rental by SUNY New Paltz students as well as those who desire to live in walking distance to Main Street and SUNY. Located in the heart of the Village directly across the street from the New Paltz College campus and a block from Main Street shopping and restaurants and it even boasts a beautiful view of the Shawangunk Ridge and Mohonk Tower. This multifamily unit has a first floor 1 bedroom apartment which can easily accommodate 2-3 people. In this unit there is a full eat-in kitchen, living room, den, office, full bath, back deck, and side screened in porch. Look for the hidden gem- 100 year old wooden turned railing currently enclosed in the front hallway closet. The second unit is on the 2nd and 3rd floors with a separate entrance from unit 1. This unit consists of 6 separate leased bedrooms (2 rooms are big enough to accommodate double occupancy and increase rental income, currently are only rented as a singles). There is a full kitchen, dining area, and 2 full baths. House has a shared washer/dryer and utility sink in basement. Property also has a a detached garage (great for storage) and driveway parking for 6 cars. In the past year, this property has had a new roof, new water heater, and new sewer line installed, heating unit is 10 years old and recently serviced and confirmed by vendor to be in excellent condition. This is a great opportunity for an investor as it is already a profit making rental with potential to make more as all units are currently rented under market value - adjusting to market value will increase rental income considerably -current Rental Income: $6150 per month. This well maintained and cared for property has been consecutively rented with no vacancies for 40 years and owned by the same owner for 50 years. Pride in ownership can definitely be seen in this well maintained house. *Another great investment option for this house would be for owner to occupy one unit and rent the other. ***LOOK for the hidden gem on 1st floor- BEAUTIFUL 100 year old turned hardwood railing and staircase that once lead to the 2nd floor- currently is enclosed as a closet. Could easily be opened up & utilized again and give access to 2nd floor. So many great possibilities with this house.