18 Hooker Ave Poughkeepsie, NY 12601

Property Details for 18 Hooker Ave

Property size

4,015 SF

Property type

Residential income homes

Description

This exceptional value-add investment opportunity presents a four-unit multifamily property situated at 18 Hooker Avenue in Poughkeepsie, New York. The property boasts a total of 4,015 square feet and is offered at $885,000, translating to a price per square foot of $220.42 and a price per unit of $221,250. The property features four two-bedroom apartments, each recently renovated with luxury finishes. Significant capital improvements have been recently completed, including a new roof, new siding, upgraded electrical and plumbing systems, and the installation of ductless mini-split heating and cooling systems. The property generates a strong net operating income (NOI) of $61,546, resulting in a compelling 6.95% capitalization rate. Tenants are responsible for their own gas and electric utilities. Located in downtown Poughkeepsie, the property benefits from a diverse local economy driven by education (Vassar College, Culinary Institute of America), healthcare, technology, and manufacturing. Poughkeepsie's strategic location offers easy access to major metropolitan areas, further enhancing its appeal to both residents and businesses. This property represents a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving New York market. The property is a two-story building located in Dutchess County, zip code 12601.