47 Dolson Avenue, Middletown, NY
Multi-family for Sale - $524,900
Agent Info
| Thomas Marrie Weichert Realtors |
Property Info
| CIMLS# | 1081644 |
| Location 47 Dolson Avenue Middletown NY 10940 | |
| Updated | November 21st, 2020 |
| Type | Multi-family |
| Price | $524,900 |
Attached Documents
Contact
Property Description
This fabulous investment opportunity located on the comer of Dolson Avenue and Bennett St includes a two family home 36 Dolson Ave MLS# 6072520 a private parking lot, 38 Dolson Ave MLS# 6072464, and a multiple use property containing two commercial units and a apartment 47 Bennett Ave. MLS#6072532. All of these well maintained properties are fully rented with most of the rentals having long term tenants. Close to shopping Orange Community Collège and easy access I 84 and Rt 17 as well as public transportation to NYC. This is an excellent opportunity to have multiple streams of steady positive cash flow. Please provide 48 hours notice for appointments
Financials
45, 47 Bennett and 36, 38 Dolson
Income
Tenant Income Amount Notes and Calculations
Actual Rent
Unit 3 $15,000.00 36 Bennett 4 bedroom bottom floor tenant has been there 15-20 years
Unit 4 $10,800.00 36 Bennett 2 bedroom upper floor tenant has been there 10 years
Unit 5 $10,200.00 47 Bennett 1200 Sq Ft commercial unit
Unit 6 $10,200.00 47 Bennett 700 Sq Ft commercial unit
Unit 7 $10,800.00 47 Bennett 2 bedroom upper floor tenant has been there 7 plus years
Total Tenant Income $82,800.00
Vacancy Contingency Adjustment (3%) -$2,484.00
Adjusted Tenant Income $80,316.00
Total Gross Income $80,316.00
Operating Expenses (paid by owner)
Real Estate Taxes $24,447.00
Insurance $3,300.00
Utilities $0.00 Paid by tenants
Oil / Gas $0.00 Paid by tenants
Electric $0.00 Paid by tenants
Water $3,400.00
Sewer $0.00
Other $0.00
Contract Services
Rubbish Removal $0.00 Commercial units paid by tenants residential units included in taxes
Landscaping $2,000.00 Yearly Estimated
Snow Removal $2,000.00 Yearly Estimated
Heating and Air Conditioning Services $0.00
Septic Services $0.00
Other Maintenance Services $0.00
Accounting $500.00 Yearly Estimated
Legal $0.00
Other Professional Services $0.00
Payroll $0.00
Management $600.00 Yearly city inspection
Repair and Maintenance (5%) -$4,016.00
Total Operating Expense $32,231.00
Net Operating Income $48,085.00
Cap Rate .062 Market Value $775,000.00
