476 Broadway, Newburgh, NY

$525,000

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3,810

Square feet

0.05

Acres

About 476 Broadway

This well-maintained mixed-use 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.

Features of 476 Broadway

MLS® # H6331277
Price $525,000
Bathrooms 0.00
Square Footage 3,810
Acres 0.05
Taxes $9,425
Year Built 1900
Type Commercial Sale
Sub-Type Multi Family
Status Active

Community Information

Address 476 Broadway
City Newburgh
County Orange County
State NY
Zip Code 12550
Adult 55+ Community No

Amenities

Parking On Street
Is Waterfront No
Has Pool No

Interior

Appliances Gas Water Heater, Microwave, Refrigerator
Heating Natural Gas, Hot Water
Cooling Wall/Window Unit(s)
Has Basement No
Fireplace No

School Information

District Newburgh

Additional Information

Date Listed October 7th, 2024
Short Sale No
RE / Bank Owned No

Listing Details

OfficeRising Star Realty

Listing Map

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