Renovated Multifamily with Flex
1256 North Avenue Beacon, NY 12508
For Sale
$2,625,000
Renovations are underway with 7 apartments nearing completion on the 2nd and 3rd floors plus 14 units on the 1st floor.
Property Size8,100 SF
Price / SF$324.07
Days on Market1496
Property Features for 1256 North Avenue
General Information
- Standard status
- Active
- Size
- 8,100 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1950
Listing Agency:
Keller Williams Valley Realty
(201) 391-2500
Listed By:
Robert B Donnelly
(201) 391-2500
Source:
Compass
Added: Jun 20, 2022
Changed: Jul 22
Last Checked: Jul 23 at 11:24AM
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 Keller Williams Valley Realty
Investment Insights
Based on property information with market context.
This multifamily property at 1256 North Avenue, Beacon, NY includes a partially completed renovation. On the 2nd and 3rd floors, 7 apartments are nearing completion. The 1st floor is designed with 14 units configured as Single Resident Occupancy / Air BNB hostel-style layouts, creating flexibility for either short-term or long-term occupancy.
The property is positioned conveniently next to the Newburgh/Beacon Bridge and near a direct train to Grand Central Station. It is also described as close to the Dia. Beacon Museum and nearby shops and food establishments.
For buyers and brokers evaluating current condition and unit mix, this is a renovation-in-progress asset with two distinct floor-level configurations: 7 apartments upstairs nearing completion and 14 hostel-style SRO/short-term configured units on the first floor.
The property is positioned conveniently next to the Newburgh/Beacon Bridge and near a direct train to Grand Central Station. It is also described as close to the Dia. Beacon Museum and nearby shops and food establishments.
For buyers and brokers evaluating current condition and unit mix, this is a renovation-in-progress asset with two distinct floor-level configurations: 7 apartments upstairs nearing completion and 14 hostel-style SRO/short-term configured units on the first floor.
Key Highlights
- Renovations underway: 7 apartments on the 2nd and 3rd floors nearing completion
- 21 total apartments: 14 units on the 1st floor configured as single resident occupancy/Air BNB hostel‑style layout, plus 7 units on 2nd and 3rd floors
- Basement includes a full basement with Bilco door(s)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $266.3k | $32.88 |
| − Vacancy | −$13.3k | −$1.64 |
| EGI | $253.0k | $31.24 |
| − OpEx | −$113.9k | −$14.06 |
| NOI | $139.2k | $17.18 |
8,100 SF · lease $32.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,156 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,677 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
FAQs
What type of property is this?
Apartment building - Renovations are underway with 7 apartments nearing completion on the 2nd and 3rd floors plus 14 units on the 1st floor.
Where is this apartment building located?
The property is located at 1256 North Avenue Beacon, NY.
What is the asking price?
The asking price for this property is $2,625,000.
What are key features of this property?
This property features: Renovations underway: 7 apartments on the 2nd and 3rd floors nearing completion; 21 total apartments: 14 units on the 1st floor configured as single resident occupancy/Air BNB hostel‑style layout, plus 7 units on 2nd and 3rd floors; Basement includes a full basement with Bilco door(s)
