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1 Royal Acres Dr Middletown, NY 10940

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For Sale
$1,298,800

Unique 7-building residential rental property with 36 acres of land.

Lot size:
36.00 Acres

Property Features for 1 Royal Acres Dr

General Information

Standard status
Active
Lot size
36.00 Acres

Building Details

Year built
1945

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Listing Contact
Jonathon Z. Lee
Source: Corcoran

Listing Agency: KELLER WILLIAMS HUDSON VALLEY Listing Agent: Jonathon Z. Lee

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Residential Rental Property on 36 Acres

This one-of-a-kind residential rental property features seven buildings situated on 36 acres of land. All seven buildings have been updated, with some undergoing further renovations. The property includes a main house of 2,152 square feet with at least two to three bedrooms, and a second unit of 1,772 square feet with two bedrooms. The remaining units are all one-bedroom units. Some units were previously used for Airbnb, while others are rented out as yearly rentals. The property's annual income is $322,000 based on yearly rentals. The property includes a pond and a large, old barn. The rear of the property offers 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 sales price.
Location Intelligence

Current Use by Public Records

Short term rental ...

Suggested Use

Real Estate Agency Auto Repair Shop Hotel & Motel Department Store HVAC Service Electrical Service Catering Service

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Middletown
County
Orange
State
New York
Longitude
-74.48667
Latitude
41.4697275

FAQs

What type of property is this?
Apartment building - Unique 7-building residential rental property with 36 acres of land.
Where is this apartment building located?
The property is located at 1 Royal Acres Dr Middletown, NY.
What is the asking price?
The asking price for this property is $1,298,800.
What are key features of this property?
This property features: - High income-generating potential: $322,000 annual income with potential for significantly higher earnings through Airbnb.; - 7-building residential rental property on 36 acres.; - Grandfathered residential-commercial property.
More about this property
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