Opportunity awaits at 18 Mountain Turnpike! This 5-unit apartment building offers a significant investment potential with a promising estimated gross income of $112,000 per year. Recent upgrades include a new 7-meter electric panel, a new heating system installed in 2020, and a state-of-the-art engineered 3,000-gallon septic system also from 2020.The property features ample parking for approximately six cars and includes a two-car garage with three storage units. Please note, the building is currently gutted and requires extensive structural and renovation work, with estimated repair costs ranging from $75,000 to $100,000 per unit. This property will not qualify for financing and is being sold AS-IS.This is a perfect project for the savvy investor ready to transform this space into a high-income-generating property. Don't miss out on this exciting opportunity!
18 Mountain Turnpike, Catskill, NY, 12414
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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