Historic Restored Multi-Family Investment
375 Blumel, Middletown, NY 10941
Farm / Farmhouse, Multi-Unit (2-4) - Middletown, NY
Property size:
5,600 SFLot size:
1.66 AcresPrice / SF:
$283/SF- Added:
- Mar 4, 2026
- Days on Market:
- 73
- Last Refresh:
- May 16 at 11:06 pm
Property Features for 375 Blumel
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- New Construction
- Zoning
- 600
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
- Parking features
- Garage, Garage - Detached
- Appliances
- Dishwasher, Dryer, Microwave, Refrigerator, Washer
- Standard status
- Active
- APN
- 3352002411732
- Size
- 5,600 SF
- Lot size
- 1.66 Acres
Taxes and HOA fees
- Tax Annual Amount
- 32000
Utilities
- Heating system
- Forced Air
Building Details
- Floors in Building
- 2
- Flooring type
- Hardwood
- Building materials
- Wood Siding
- Roof type
- Metal
- Architectural style
- Other
Listing agent Keegan Rehill (516) 491-9053
Listing office ZORA REI 1225 FRANKLIN AVENUE SUITE 325, GARDEN CITY, NY (516) 491-9053
Listing date Mar 4, 2026
MLS# 11666953
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully renovated in 2024, offering a turnkey, income‑producing multi‑family property.
- Historic property (built in 1787) with modern upgrades and high‑quality finishes.
- Four renovated residential units plus five rentable garage units provide multiple income streams.
- Located on 1.66 acres with generous parking and convenient access to Route 17, Interstate 84, and Middletown.
- Approximately 5,600 square feet of building space with updated kitchens and modern bathrooms.
- Garage units offer flexible space for storage, hobbies, workshops, or small business uses.
Overview
Located at 375 Blumel Road in Scotchtown, this historic multi-family investment property offers a fully restored income-producing asset in Orange County, in New York's Hudson Valley. Originally constructed in 1787 and completely renovated in 2024, the property combines historic architecture with modern upgrades. The building spans approximately 5,600 square feet and features four renovated residential units, each thoughtfully designed with updated kitchens, modern bathrooms, and high-quality finishes while preserving the character of the original structure. Situated on 1.66 acres, the property provides generous parking, open space, and attractive curb appeal while remaining conveniently located near Route 17, Interstate 84, Middletown, and major commuter routes throughout Orange County and the Hudson Valley. In addition to the residential apartments, the property includes five rentable garage units, creating an additional income stream. These conditioned garage spaces can be used for storage, hobby space, workshops, or small business uses, making them attractive to tenants seeking flexible workspace or vehicle storage. Following the extensive 2024 renovation, the property offers a turnkey opportunity for investors seeking a multi-family rental property in Orange County NY, with modernized interiors, improved systems, and strong long-term income potential.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$1.24M
NOI $111,307 @ 9.00% cap · cautious / downside scenario
Moderate
$1.59M
NOI $111,307 @ 7.00% cap · market / base-case scenario
Aggressive
$2.23M
NOI $111,307 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $164.6k | $29.40 |
| − Vacancy | −$5.6k | −$1.01 |
| EGI | $159.0k | $28.39 |
| − OpEx | −$47.7k | −$8.52 |
| NOI | $111.3k | $19.88 |
5,600 SF · lease $29.40/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.59M
$1.39M – $1.86M
NOI $111,307 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,751 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,766 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Middletown
- County
- Orange
- State
- New York
- Longitude
- -74.36022
- Latitude
- 41.481183
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Fully renovated 4-unit property with 5 rentable garages in Scotchtown, NY.
Where is this quadplex located?
The property is located at 375 Blumel Middletown, NY.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Fully renovated in 2024, offering a turnkey, income‑producing multi‑family property.; Historic property (built in 1787) with modern upgrades and high‑quality finishes.; Four renovated residential units plus five rentable garage units provide multiple income streams.
