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
UpdatedNovember 21st, 2020
TypeMulti-family
Price$524,900

Attached Documents


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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



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