16 Lincoln Terrace, Newburgh, NY

$539,000

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6

Beds

3

Baths

3,258

Square feet

0.10

Acres

About 16 Lincoln Terrace

$45,000 NET INCOME!!! Nestled in the heart of Newburgh, this expansive 3-family home presents an unparalleled investment opportunity. The residence welcomes you with a generous covered front porch and features three distinct units, each offering 2 bedrooms, a kitchen, and a full bath. The first and second floors add a touch of elegance with their inviting dining rooms. Step outside into the fenced-in yard, where a charming patio provides a private outdoor escape with direct access to the first floor, seamlessly blending indoor and outdoor living. The strategic layout of this home harmonizes comfort, style, and impressive returns. Unit 1 rents for $2,300 per month, Unit 2 for $1,900 per month, and Unit 3 for $1,500 per month. This home has been cherished by the same family for 50 years, ensuring its exceptional upkeep and condition. Located in an up-and-coming area, this property is steps away from Downing Park, a 35-acre haven created by the designers of Central Park. The apartments are spacious, the first two floors are especially roomy, and the basement offers the potential to be finished into an in-law suite. This Newburgh gem offers both space and opportunity, making it an ideal investment that promises substantial rewards.

Features of 16 Lincoln Terrace

MLS® # H6311395
Price $539,000
Bedrooms 6
Bathrooms 3.00
Full Baths 3
Square Footage 3,258
Acres 0.10
Taxes $12,944
Year Built 1927
Type Residential Income
Sub-Type Multi Family
Status Active

Community Information

Address 16 Lincoln Terrace
City Newburgh
County Orange
State NY
Zip Code 12550
Adult 55+ Community No

Amenities

Parking Driveway
Is Waterfront No
Has Pool No

Interior

Interior Hardwood
Heating Natural Gas, Hot Water
Cooling None
Has Basement Yes
Basement Full, Walk-Out Access
Fireplace No

Exterior

Exterior Brick, Vinyl Siding

School Information

District Newburgh
Elementary Magnet Sch of Math Science & Design
Middle South Middle School
High Newburgh Free Academy

Additional Information

Date Listed June 22nd, 2024
Days on Market 24
Short Sale No
RE / Bank Owned No

Listing Details

OfficeeXp Realty

Listing Map

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