1256 North Ave
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1256 North Ave
23 Unit Apartment Building $2,650,000 ($115,217/Unit) 10% Cap Rate Beacon, NY 12508
Executive Summary
Rare 10% CAP - Almost Renovated Beacon Multifamily Property Premium Opportunity in Prime Location Welcome to this exceptional multifamily property in the heart of Beacon, NY! This unique investment opportunity offers a combination of commuter rentals and Air B&B potential, perfect for savvy investors and entrepreneurs. Recently Renovated The property has undergone significant renovations, with 7 apartments on the 2nd and 3rd floors nearing completion. First Floor Flexibility The 1st floor features 14 units configured as a Single Resident Occupancy/Air BNB Hostel-Style layout, providing flexibility and versatility for short-term rentals or long-term leases. Prime Location Conveniently next to the Newburgh/Beacon Bridge and close to the direct train to Grand Central Station. Beacon is a prime residential area, boasting the Dia.Beacon Museum, many shops and food establishments.
Some units occupied. Can show with notice on 2nd showing. 7 Units under renovation with new kitchens and baths. Trim packages getting installed now.
Some units occupied. Can show with notice on 2nd showing. 7 Units under renovation with new kitchens and baths. Trim packages getting installed now.
Property Facts
| Price | $2,650,000 | Building Class | C |
| Price Per Unit | $115,217 | Lot Size | 0.51 AC |
| Sale Type | Investment | Building Size | 7,000 SF |
| Cap Rate | 10% | No. Stories | 2 |
| No. Units | 23 | Year Built | 2019 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $2,650,000 |
| Price Per Unit | $115,217 |
| Sale Type | Investment |
| Cap Rate | 10% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 7,000 SF |
| No. Stories | 2 |
| Year Built | 2019 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
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zoning
| Zoning Code | R1-7.5 (Residential) |
| R1-7.5 (Residential) |
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Bob Donnelly -
Keller Williams Valley Realty
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1256 North Ave
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