Updated Multifamily Rental
For Sale
$1,399,000
1 Royal Acres Dr, Middletown, NY 10940
Seven updated rental buildings on 36 acres, offering a mix of yearly units and intermittently used Airbnb-style stays.
Property Size7,523 SF
Lot Size36.00 Acres
Days on Market90
Property Features for 1 Royal Acres Dr
General Information
Standard status
Active
Size
7,523 SF
Lot size
36.00 Acres
Property subtype
Commercial
Zoning
residential-commercial (grandfathered)
Financials
Cap Rate
7%
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$17,257
Building Details
Building Size
7,523 SF
Year Built
1945
Units
7
Tenancy
Multi
Listing Agency:
Keller Williams Hudson Valley Realty & United
(917) 747-6688
Listed By:
Jonathon Z. Lee
(917) 747-6688
Source:
Elliman
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 30 at 9:00PM
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 Hudson Valley Realty & United
Investment Insights
Based on property information with market context.
This one-of-a-kind residential rental property consists of seven separate buildings on approximately 36 acres of land. All seven buildings have been updated, with some units still undergoing further renovations. The unit mix includes a main house of 2,152 square feet with at least 2–3 bedrooms, Unit 2 at 1,772 square feet with two bedrooms, and the remaining units configured as one-bedroom rentals.
Some units were used intermittently for Airbnb, while others have been rented out permanently as yearly rental units. The property also includes a pond and a large, old barn. The rear of the property provides additional land that can be utilized, and the surrounding area is described as single-family residential.
The property is grandfathered as a residential-commercial property and is located in the MiniSink School District. The seller notes the setting as quiet and desirable, with shopping and highways not far away. Based on the provided figures, annual income is listed at $322,000 based on yearly rentals, with significantly higher earnings through Airbnb rentals from before. The asking price is noted as $1.3MM, with a cap rate around 7% as stated in the remarks.
Some units were used intermittently for Airbnb, while others have been rented out permanently as yearly rental units. The property also includes a pond and a large, old barn. The rear of the property provides additional land that can be utilized, and the surrounding area is described as single-family residential.
The property is grandfathered as a residential-commercial property and is located in the MiniSink School District. The seller notes the setting as quiet and desirable, with shopping and highways not far away. Based on the provided figures, annual income is listed at $322,000 based on yearly rentals, with significantly higher earnings through Airbnb rentals from before. The asking price is noted as $1.3MM, with a cap rate around 7% as stated in the remarks.
Key Highlights
- 7‑building residential rental property on 36 acres in Mount Hope; all buildings have been updated, with some renovations still in progress
- Unit mix includes a 2,152 SF main house (at least 2–3 bedrooms), a 1,772 SF unit with 2 bedrooms, plus the remaining 1‑bedroom units
- Annual income reported as $322,000 based on yearly rentals; additional higher earnings noted from Airbnb use before
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 10940, NY
52,803
Population
19,930
Households
2.6
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
63.1 sq mi
ZIP Area
837
Density / Sq Mi
$87,198
Median Household Income
$46,435
Median Earnings
$1,600
Median Rent
$301,400
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 - Seven updated rental buildings on 36 acres, offering a mix of yearly units and intermittently used Airbnb-style stays.
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 $1,399,000.
What are key features of this property?
This property features: 7‑building residential rental property on 36 acres in Mount Hope; all buildings have been updated, with some renovations still in progress; Unit mix includes a 2,152 SF main house (at least 2–3 bedrooms), a 1,772 SF unit with 2 bedrooms, plus the remaining 1‑bedroom units; Annual income reported as $322,000 based on yearly rentals; additional higher earnings noted from Airbnb use before
