This exceptional Ulster Park, NY property offers a unique investment opportunity and luxurious lifestyle. Nestled on 3.2 acres, this meticulously renovated estate comprises three distinct residences: a magnificent 5,463 sq ft Jewel House, a charming 2,291 sq ft Rustic Family Retreat, and a cozy 941 sq ft Carney Cottage. All three buildings boast modern amenities, including a new roof, Hardie board siding, and a new septic system, ensuring lasting quality. Six zones of heating and cooling provide customized climate control throughout the 8,800 sq ft of living space. A large Trex wrap-around deck enhances the indoor-outdoor flow, perfect for entertaining. The property's prime location in the Hudson Valley, near Kingston, New Paltz, and Rosendale, offers easy access to hiking trails, skiing, boating, and cultural attractions, including the renowned Mohonk Mountain House. In its first year as an Airbnb, the property projects over $124,000 in income, with 2024 operating expenses to date totaling $36,043. This includes insurance, utilities, management fees, and cleaning services. The property's versatility makes it ideal for a family compound, Airbnb operation, corporate retreat, or even an event venue. Built in 1920 and extensively renovated in 2018, this three-story, three-building estate is zoned R40 and presents a rare opportunity to acquire a high-return investment with significant income potential and exceptional lifestyle benefits in a highly desirable location. The property's blend of modern luxury and timeless charm makes it a truly unique offering.
Highlights
$2,800,000 asking price for a three-unit hospitality/multifamily investment property.
8,800 square feet on a 3.2-acre lot in Ulster Park, NY.
Three buildings, totaling three units, with a 1920 construction date and 2018 renovation.
R40 zoning.
First-year Airbnb projections exceed $124,000, with 2024 operating expenses to date totaling $36,043.
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patty kowatch
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103 Carney Rd, Ulster Park, New York, 12487
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103 Carney Rd
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