Multi-Family Investment on
For Sale
$1,300,000
11-13 Olev Lane, New Paltz, NY 12561
Two residential buildings on 53.5 acres with income-producing apartments and a multi-bay garage, plus separate septic systems.
Property Size4,181 SF
Lot Size53.50 Acres
Days on Market50
Property Features for 11-13 Olev Lane
General Information
Standard status
Active
Size
4,181 SF
Lot size
53.50 Acres
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$15,585
Building Details
Building Size
4,181 SF
Year Built
1930
Tenancy
Multi
Listing Agency:
Century 21 Alliance-NP
(845) 255-6163
Listed By:
Savannah Miceli · License #10401316939
Source:
Gristmillrealestate
Added: Jul 14
Changed: Aug 22
Last Checked: Aug 31 at 12:26AM
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
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 12561, NY
18,726
Population
7,081
Households
2.6
Avg Household Size
36
Median Age
56%
College-Educated
97%
High-School Grad
60.3 sq mi
ZIP Area
311
Density / Sq Mi
$89,694
Median Household Income
$25,612
Median Earnings
$1,603
Median Rent
$411,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
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.
