13 Fostoria Street, Highland Falls, NY 10928

Property Description

Well-maintained multifamily investment opportunity in the Village of Highland Falls. The property features three separate one-bedroom, one-bath apartments, with the first-floor apartment occupying the entire floor and currently utilizing a dining room as a 2nd bedroom, and two additional apartments located on the second floor. One of the second-floor apartments also offers walk-up finished attic access, providing additional potential. The basement offers washer and dryer facilities and areas that can be designated as storage for each unit. Opportunity to also convert this home back into a single family residence. Recent updates include a new oil tank; two electric water heaters serving apartments 1 and 2; refinished hardwood floors in the first floor apartment; front and back porch steps; refrigerator in a second floor apartment, ceiling fans first floor apartment; and updated plumbing. The property does have access to convert fuel to natural gas. All three units are currently occupied by month-to-month tenants, with rents reported below current market value, providing an opportunity for a new owner to potentially increase rental income over time (subject to applicable laws and tenant agreements). Owner pays oil for heat, water, sewer and trash. Tenants pay electric, hot water, internet and phone. Ideally located within walking distance of Roe Park, residents have convenient access to a basketball court, playground, pavilion with bathrooms, softball and Little League fields, seasonal pool, and community events, including the annual Fourth of July celebration with live music and fireworks. Located less than one mile from the gates of West Point, a short drive to Bear Mountain State Park, the property also offers convenient access to multiple train stations providing service to New York City, all within approximately an 18-minute drive. Come see this multifamily home offering existing rental income and potential for future rent growth in a highly accessible location. Showing requests must be made a minimum of 48 hours in advance, are by seller agent access, and must be coordinated in advance with the tenants. All photos have been photoshopped and tenants personal belongings have been removed. Home sold as is.