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238-240 Grand St Newburgh, NY 12550

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For Sale
$1,250,000

Historic multifamily property with income potential in Newburgh, NY.

Lot size:
0.17 Acres

Property Features for 238-240 Grand St

General Information

Standard status
Active
Lot size
0.17 Acres

Building Details

Year built
1890

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Listing Contact
Jake M. Ponessi
Source: Corcoran

Listing Agency: RE/MAX BENCHMARK REALTY GROUP Listing Agent: Jake M. Ponessi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Six-Unit Multifamily Investment Property

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. The property 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.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Newburgh
County
Orange
State
New York
Longitude
-74.0088562
Latitude
41.5080535

FAQs

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 $1,250,000.
What are key features of this property?
This property features: - Stabilized in-place income at a competitive cap rate with proven tenancy.; - Off-street parking included - a valuable amenity for tenant retention.; - Durable, load-bearing brick construction ensures long-term structural integrity.
More about this property
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