Six-Unit Multifamily Investment
For Sale
$1,199,999
238-240 Grand St, Newburgh, NY 12550
Historic multifamily property with income potential in Newburgh, NY.
Days on Market100
Property Features for 238-240 Grand St
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1890
Listing Agency:
(845) 863-7886
Listed By:
Lauren C. Racanelli
(845) 863-7886
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 31 at 11:17AM
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 Lauren C. Racanelli
Investment Insights
Based on property information with market context.
The property at 238–240 Grand Street is a six-unit multifamily investment with approval for a basement unit. Housed within a late-19th-century brick residence, the building features solid masonry walls, ornate cornice work, and classic proportions. Originally constructed as a grand single residence, it has been adapted into income-producing apartments while retaining its architectural character. The apartments feature wide window bays, generous ceiling heights, and substantial wall construction. From an investment standpoint, the asset delivers stabilized in-place income at a competitive cap rate, supported by a straightforward expense profile and proven tenancy. The structure’s load-bearing brick construction with wood-framed floors and roof offers long-term durability. The offering includes an adjacent lot used exclusively for off-street parking. Situated moments from the Newburgh Waterfront and key regional employers, the property benefits from consistent rental demand while offering investors ownership of a true historic asset. The bike score is 51, indicating it is bikeable, and the walk score is 86, indicating it is very walkable.
Key Highlights
- Stabilized income‑producing property with a competitive cap rate and proven tenancy.
- Includes an adjacent lot used exclusively for off‑street parking, a valuable amenity for tenant retention.
- Located near the Newburgh Waterfront and key regional employers, ensuring consistent rental demand.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
Explore this area
Business Placement
Demographics for 12550, NY
55,869
Population
22,204
Households
2.5
Avg Household Size
37
Median Age
26%
College-Educated
86%
High-School Grad
34.7 sq mi
ZIP Area
1,610
Density / Sq Mi
$78,019
Median Household Income
$40,762
Median Earnings
$1,466
Median Rent
$297,400
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 - Historic multifamily property with income potential in Newburgh, NY.
Where is this apartment building located?
The property is located at 238-240 Grand St Newburgh, NY.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Stabilized income‑producing property with a competitive cap rate and proven tenancy.; Includes an adjacent lot used exclusively for off‑street parking, a valuable amenity for tenant retention.; Located near the Newburgh Waterfront and key regional employers, ensuring consistent rental demand.
