476 Broadway, Newburgh, NY, 12550
3 beds
2 Full / 1 Half baths
1900
Triplex
This well-maintained property offers an exceptional opportunity for investors seeking reliable rental income and the potential to increase cash flow. The property features a vacant street-level storefront, previously leased at $2,000/month, presenting an open canvas for a new retail business or office tenant. With a large, versatile space and convenient rear entry leading to municipal parking, this storefront is highly appealing to small business owners looking for ease of access. Residential income comes from two fully occupied units on the upper floors. The 2nd-floor unit is a 2-bedroom apartment, currently rented for $1,400/month. The 3rd-floor unit is a 1-bedroom apartment, generating $1,200/month. Both apartments have been recently updated, including kitchens, bathrooms, and flooring. Tenants pay all utilities (gas and electric), while the landlord covers water, sanitation, exterminator services, taxes, and insurance, with estimated annual expenses under $14,000. The property boasts high-efficiency gas boilers (residential units) and updated electrical systems, ensuring low maintenance costs and energy savings. This investment offers immediate income from residential leases (both units are month-to-month), with the added opportunity to lease the vacant storefront at market rates. Whether you're a seasoned investor or looking to diversify, this property’s strong income potential and strategic location make it a perfect addition to any portfolio.
Status:
Pending
Type:
Single-family residential
Units:
3
Heating:
Natural Gas, Hot Water
Cooling:
Wall/Window Unit(s)
Parking:
On Street
Acreage:
0.05
Est. Taxes:
$9,425
Assessment
$288,000
Utilities
Trash Collection Public
Middle School:
MEADOW HILL GLOBAL EXPLORATIONS MAGNET SCHOOL
High School:
Newburgh Free Academy
School District:
Newburgh
Days on Market:
37
MLS #:
H6331893
Community Info
School Info
Walk Score
Mass Transit
Yelp
Similar Properties
New or Coming Soon Properties
Listing courtesy of Rising Star Realty 914-243-4885