808-818 State Rt 17B Monticello, NY 12701
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 808-818 State Rt 17B
- Year built
- 1951
- Lot size
- 3.46 lot acres
- Property size
- 8,195 SF
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents a portfolio of four buildings totaling 13 units situated on a substantial 3.46-acre lot in desirable Monticello, NY. The property, encompassing addresses 808, 812, 818, and 820 State Route 17B, boasts a current NOI of $132,192 and a pro-forma NOI of $150,061, translating to a compelling 7.78% cap rate and a pro-forma cap rate of 8.83%. The buildings, constructed in 1951 and extensively renovated in 2023, feature a mix of unit sizes, including studios, one-bedroom, two-bedroom, and even a three-bedroom ranch-style home and a one-bedroom cottage with a loft. Currently, 85% occupancy generates consistent income, further enhanced by a shared laundry facility. The property's spacious lot offers significant potential for future expansion, including the addition of more units and the separation of utilities to increase profitability. A recent appraisal valued the property at $1.8 million, underscoring its strong investment potential. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property with substantial upside in a prime location. The asking price is $1,700,000. The property includes 13 units across four buildings, offering a diverse range of unit sizes and layouts. This presents a unique opportunity for investors seeking a strong return on investment in a thriving market.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Monticello
- County
- Sullivan
- State
- New York
- Longitude
- -74.7707
- Latitude
- 41.6673
