Multi-Family Investment on
11-13 Olev Lane New Paltz, NY 12561
New
11-13 Olev Lane, New Paltz, NY, 12561
$1,300,000
For Sale
$1,300,000
Two residential buildings on 53.5 acres with income-producing apartments and a multi-bay garage, plus separate septic systems.
Lot Size53.50 Acres
Days on Market4
Property Features for 11-13 Olev Lane
General Information
- Standard status
- Active
- Lot size
- 53.50 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1930
Listing Agency
Century 21 Alliance-NP
(845) 255-6163
Listed by
Savannah Miceli · License #10401316939
Source
Gristmillrealestate
Added: Jul 14 Checked: Jul 17 at 2:40 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Alliance-NP
Investment Insights
Based on property information with market context.
Rare five-family investment opportunity on 53.5 acres in New Paltz. The property includes two separate residential buildings with multiple income-producing apartments, along with a multi-bay garage. One garage bay is currently included with an existing apartment lease, while the remaining bays may provide additional rental or storage income. The main residence features a distinctive stone exterior and a covered porch, with apartments across several levels. The second residential building includes additional apartments positioned above the garage. Both roofs have been replaced recently.
The apartments are occupied under a combination of term leases and month-to-month tenancy. Tenants pay their own electric and heating expenses. Each residential building is served by its own designated septic system, and the property is served by private water.
The acreage includes both open and wooded land. Solar companies have previously approached the seller regarding leasing a portion of the property, and the next owner should evaluate opportunities independently. Any future development or alternative land uses would require independent due diligence and applicable zoning, planning, environmental, access, utility, and municipal approvals, which should be verified by the purchaser.
The apartments are occupied under a combination of term leases and month-to-month tenancy. Tenants pay their own electric and heating expenses. Each residential building is served by its own designated septic system, and the property is served by private water.
The acreage includes both open and wooded land. Solar companies have previously approached the seller regarding leasing a portion of the property, and the next owner should evaluate opportunities independently. Any future development or alternative land uses would require independent due diligence and applicable zoning, planning, environmental, access, utility, and municipal approvals, which should be verified by the purchaser.
Key Highlights
- Two residential buildings on 53.5 acres in New Paltz, with multiple income‑producing apartments and a multi‑bay garage.
- Year built 1930; main residence has a distinctive stone exterior and covered porch, with apartments across several levels.
- Second residential building includes apartments above the garage; one garage bay is tied to an existing apartment lease.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Two residential buildings on 53.5 acres with income-producing apartments and a multi-bay garage, plus separate septic systems.
Where is this apartment building located?
The property is located at 11-13 Olev Lane New Paltz, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two residential buildings on 53.5 acres in New Paltz, with multiple income‑producing apartments and a multi‑bay garage.; Year built 1930; main residence has a distinctive stone exterior and covered porch, with apartments across several levels.; Second residential building includes apartments above the garage; one garage bay is tied to an existing apartment lease.
