13-Unit Apartment
For Sale
$1,700,000
808-812 State Rt 17B, Monticello, NY 12701
Four-building multifamily property with renovated units, on-site laundry, parking, and water access.
Property Size8,195 SF
Lot Size3.46 Acres
Price / SF$207.44
Days on Market1407
Property Features for 808-812 State Rt 17B
General Information
Standard status
Active
Size
8,195 SF
Lot size
3.46 Acres
Property subtype
Multi Family
Units
Unit Mix
8 x 2BR, 1 x studio, 2 x 1BR, 1 x 3BR, 1 x 1BR+loft
Multifamily Units
13
Taxes and HOA fees
Annual Taxes
$10,000
Amenities
laundry room
Full
Multi Family, Park, Water Access, Well
8195
Square Feet
Water Access
No
Common, Parking Lot, Off Street, Private, Park, Wooded
Building Details
Year Built
1951
Buildings
4
Construction
Vinyl Siding
Listing Agency:
MK Realty Inc
Listed By:
Abraham Lowy · License #10401327281
(845) 782-0205
Source:
Compass
Added: Dec 8, 2022
Changed: Oct 11
Last Checked: Oct 15 at 1:36AM
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 MK Realty Inc
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Investment Insights
Based on property information with market context.
This apartment property includes four buildings totaling 13 units across 8,195 square feet. The unit mix includes two-bedroom apartments, one-bedroom apartments, a studio, a three-bedroom ranch-style home, and a one-bedroom cottage with a loft bedroom. Many units have undergone recent renovations, and the buildings feature vinyl siding. Most apartments are occupied, while a public laundry room provides an additional income source.
Set on 3.46 acres at 808-812 State Rt 17B in Monticello, the property includes common, off-street, private, and lot parking, along with water access and wooded surroundings. The buildings date to 1951. The property is supported by a pro forma cap rate of nearly 9%.
Set on 3.46 acres at 808-812 State Rt 17B in Monticello, the property includes common, off-street, private, and lot parking, along with water access and wooded surroundings. The buildings date to 1951. The property is supported by a pro forma cap rate of nearly 9%.
Key Highlights
- Four buildings with 13 total units
- 8,195 square feet on 3.46 acres
- Unit mix includes two‑bedroom, one‑bedroom, studio, three‑bedroom, and loft‑bedroom residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,561
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,251,220
$1.3M
Cap Rate 7%
$893,729
$893.7K
Cap Rate 9%
$695,122
$695.1K
Market Conditions
NOI Build-Up for 8,195 SF
Gross rent
$123.9K $15.12/SF
− Vacancy
−$10.2K −$1.24/SF
EGI
$113.7K $13.88/SF
− OpEx
−$51.2K −$6.25/SF
NOI
$62.6K $7.63/SF
Area
Sullivan County, NY
Vacancy
8.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,251,220
Cap Rate 7%
$893,729
Cap Rate 9%
$695,122
Alternative Uses
Best Use
Apartment 5plus
$893.7K
$782.0K – $1.04M
NOI $62,561 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.25M
$1.97M – $2.62M
NOI $157,344 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 12701, NY
12,360
Population
7,188
Households
1.7
Avg Household Size
38
Median Age
23%
College-Educated
78%
High-School Grad
61.0 sq mi
ZIP Area
203
Density / Sq Mi
$56,601
Median Household Income
$35,918
Median Earnings
$989
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Four-building multifamily property with renovated units, on-site laundry, parking, and water access.
Where is this apartment building located?
The property is located at 808-812 State Rt 17B Monticello, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Four buildings with 13 total units; 8,195 square feet on 3.46 acres; Unit mix includes two‑bedroom, one‑bedroom, studio, three‑bedroom, and loft‑bedroom residences
