Property Description

Turnkey 5-Unit Investment Opportunity in the Heart of Port Jervis! Built in 1990, this exceptionally well-maintained multifamily property offers a rare opportunity to own a newer construction income-producing asset in a market dominated by much older housing stock. Situated on over half an acre, the property features five townhouse-style apartments thoughtfully positioned to provide each tenant with a sense of privacy rarely found in multifamily living. Mature trees create a natural buffer from the road, while each unit enjoys its own covered front porch, private fenced patio, and dedicated parking space off the freshly paved driveway. Recent capital improvements include a new roof, siding, and gutters-all completed within the past two years, significantly reducing near-term maintenance expenses.Offering approximately 6,706 square feet, the building consists of four spacious 3-bedroom, 2-bath units and one accessible 2-bedroom, 1.5-bath single-level apartment, providing a desirable mix of unit types. Each residence features its own private entrance, welcoming foyer with coat closet, in-unit laundry nook with washer/dryer hookups, generous living spaces with high ceilings, sliding glass doors leading to private patios, and a combination of carpet, vinyl, tile, or laminate flooring. Kitchens vary slightly in design but offer ample cabinetry and functional layouts, while several units feature pantries, ceiling fans, and approximately 9-11 foot ceilings that enhance the spacious feel.The property is currently 100% occupied, with all tenants on month-to-month leases, presenting an excellent opportunity for a new owner to increase rents over time while benefiting from an already stable occupancy history. Current gross rental income is $106,200 annually, with tenants paying their own gas, electric, and heat, helping minimize owner operating expenses.Located just 0.8 miles from the Port Jervis Metro-North/NJ Transit train station, tenants enjoy walkable access to downtown Port Jervis, restaurants, shopping, schools, and commuter rail service to the New York metropolitan area. With newer construction, strong curb appeal, significant recent exterior improvements, stable occupancy, and upside in future rental income, 1001/2 Kingston Avenue represents a compelling addition to any investment portfolio.

Property Features

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