22 Arrowhead Ln Narrowsburg, NY 12764

Property Details for 22 Arrowhead Ln

Year built

1970

Lot size

20.68 lot acres

Property size

15,197 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity in Narrowsburg, NY, presents a lucrative multi-family complex spanning over 20.68 acres. The property comprises three buildings situated on two parcels, with an additional four vacant parcels offering significant expansion potential. The main attraction is a fully occupied 16-unit apartment building, boasting eight one-bedroom, seven two-bedroom, and one three-bedroom unit. This building consistently maintains high occupancy, with a waiting list and scheduled annual rent increases. A second building, a two-family house, requires rehabilitation, presenting a value-add opportunity. A third building, a cottage-style structure, could serve as an additional rental unit or a tenant laundry facility. The grounds are impeccably maintained, featuring a shared tenant garden and ample parking. The property benefits from extensive road frontage, allowing for the addition of commercial and residential units. Current expenses covered by the landlord include taxes, insurance, common electric, snow plowing, lawn mowing, trash removal, repairs, and maintenance. Tenants are responsible for their individual electric and propane costs for heating, cooking, and hot water. Located in the desirable river town of Narrowsburg, this property offers a substantial and stable income stream, making it an ideal investment for discerning buyers. The total square footage is 15,197 square feet. A detailed financial analysis report is available upon request.

Location Insight

City

Narrowsburg

County

Sullivan County

State

New York

Longitude

-75.0196

Latitude

41.5961