The Uptowner
Kingston, NY
$425,000

Located in the heart of historic Kingston, The Uptowner is a stylishly renovated two-family home offering an outstanding opportunity for investors––or owner-occupants looking to offset their mortgage.

The property features two separate units, each with its own entrance and all utilities separated. On the lower level is a roomy one bedroom unit, accessed from the rear of the house, while upstairs is a two bedroom unit, entered from the front door and up an interior stairwell.

The House Tour. With a new roof in 2018, and gut-renovation in 2020, the building features all new interiors, new mechanicals, laundry and dishwashers in both units, and fresh kitchens and bathrooms. The building also features covered off-street parking, and a grassy fenced yard backing up to woods.

Residing in the flexible T4 Neighborhood zoning code, this property allows for full-time/non-owner-occupied short-term rental, subject to Sec 405.21.D of Kingston's zoning code. The first floor is currently used as a high-performing, and fully-licensed, short-term rental. All furnishings in this unit are available for purchase, making it a turnkey opportunity for a new owner.

The upper unit is long-term tenant occupied, with tenant vacating April 30. Based on income from the building's current use as a mix of both long-term and short-term rentals, the property is priced at a very healthy 9.7% CAP Rate. Could also easily be converted back to a single-family home, as well.

The Grounds. Clear, flat lot with a grassy fenced rear yard, backing up to woods. Forsythia hedges welcome Spring, and a stacked stone wall defining the rear yard border is a reminder of the area’s storied past. The setting offers a peaceful respite in the midst of the bustling village.

The Area. Don't miss this low-maintenance and cash-flowing opportunity in prime Uptown Kingston––convenient to shopping, dining, parks, public transit, and daily bus service to/from NYC. Located just 90 miles to NYC, and a 10-15-minute walk to the weekly Farmers Market, many shopping/dining options in the Kingston Stockade District, the Trailways Bus Station with daily service to/from NYC, and to Forsyth Park with nature center, playground, and tennis/pickle ball courts.

The Particulars

Bedrooms: 3

Bathrooms: 2

Square Footage: 1,573

Acres: 0.0875

Year built: 1892

Short-term rental friendly: Yes

Top amenities: Compelling investment opportunity, Walkability, Stockade District location, Recent renovation/turnkey

Connectivity: Internet: High speed cable internet. Cell service: Excellent

Appliances: Stove/Oven (2): Ciarra. Fridge (2): Frigidaire. Dishwasher (2). Washer/Dryer (2): Samsung.

Utilities: Electric: 200amp, 100 per unit. Heat: Steam radiators Cooling: N/A. Water heater: One electric, one natural gas. Sewer: Municipal Water: Municipal

Taxes & School: Town: $6,814/year

Unit 1 Furnishings Available for Purchase

Listing Agent: MJ Collum
mj@catskillmountainhouses.com