16+ Units | 22 Arrowhead Apartments
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16+ Units 22 Arrowhead Apartments
8 Unit Block of Flats £1,927,975 (£240,997/Unit) Narrowsburg, NY 12764
INVESTMENT HIGHLIGHTS
- Fully Rented
- Beautiful Location
EXECUTIVE SUMMARY
GOLDEN opportunity!! Very lucrative rental property in the Western Sullivan County Catskills on over 20 acres with room to expand is what savvy investors have been waiting for. This very attractive offering consists of three buildings on two parcels with an additional four vacant parcels for development. Main attraction is a fully occupied 16-unit apartment building (with ability to add more), the second building is a two-family house in need of rehab and third is a cottage-style stand-alone which can be another rental unit or laundry facility for the tenants. The 16 units are always occupied and continuously up to date on rent with a waiting list and scheduled annual increases. There are eight 1-BR apartments, seven 2-BR apartments, and a 3-BR. The grounds are meticulously maintained with shared garden for the tenants and an enormous amount of parking. Extensive frontage on two roads, ability to add commercial and a multitude more residential units, along with a steady stream of income makes this a cash cow! Landlord pays the usual expenses: taxes, insurance, common electric, plowing, mowing, trash, repairs, and maintenance. Tenants pay all electric and propane for heat, cooking, and hot water. Narrowsburg is a lovely, quaint, and bustling river town in a very desirable area. Financial analysis report is available upon request.
PROPERTY FACTS
| Price | £1,927,975 | Building Class | C |
| Price Per Unit | £240,997 | Lot Size | 20.68 AC |
| Sale Type | Investment | Building Size | 15,197 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | Number of Floors | 1 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Low Rise |
| Price | £1,927,975 |
| Price Per Unit | £240,997 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 20.68 AC |
| Building Size | 15,197 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 1970 |
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PROPERTY TAXES
| Parcel Number | 4800-005-0-0001-009-027 | Improvements Assessment | £237,513 |
| Land Assessment | £18,500 | Total Assessment | £256,014 |
PROPERTY TAXES
Parcel Number
4800-005-0-0001-009-027
Land Assessment
£18,500
Improvements Assessment
£237,513
Total Assessment
£256,014
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16+ Units | 22 Arrowhead Apartments
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