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About This Home
This 0-bedroom, 0-bathroom residential multi family at 1 Royal Acres Drive in Middletown, NY is listed for $1,298,800. Built in 1945, on a 36.00 acres lot.
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.
Key Features
- Built in 1945
- 36.00 acre lot
- 2 stories
- Waterfront
Property Details
Amenities
Monthly Cost Estimate
$6,946/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1 Royal Acres Drive
Middletown, NY 10940
Property Details
Construction
Parking
Heating
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 1 Royal Acres Drive is listed at $1,298,800. The estimated monthly payment is $5,628 based on 20% down at 6.5% interest.
Key features include: Built in 1945, 36.00 acre lot, 2 stories, Waterfront.
This property is listed by Jonathon Z. Lee and can be reached at 9177476688 or jonlee@kw.com.
