1014 New York 23a , Catskill, NY 12414

12-Unit Multifamily Investment Opportunity | Catskill, NY Strong Cash Flow â?¢ Value-Add Upside â?¢ Prime Hudson Valley LocationIntroducing 1014 Route 23A, Catskill, NY, a well-maintained 12-unit multifamily property offering stable income, significant upside potential, and extensive recent capital improvements. Situated on 1.6 acres in the thriving Catskill/Hudson Valley market, this asset is ideal for investors seeking dependable cash flow and long-term appreciation.The property consists of three two-story buildings with 12 spacious two-bedroom, one-bathroom apartments totaling approximately 11,920 rentable square feet. Current income is approximately 15,725/month from residential rents plus 500/month from on-site laundry, generating 194,700 in annual gross income. Several units remain below market rent, providing a clear path to increased revenue and a 9 cap rate at stabilization.Efficient Operations:Each apartment is separately metered and features electric baseboard heat and an electric water heater, with tenants responsible for electric, heating, and hot water expenses. This structure helps minimize landlord expenses and creates predictable operating expenses.Property Features:Ample on-site parkingIncome-producing laundry facilitiesPrivate well systemThree septic systems (one per building)Ceiling fans, dishwashers, and A/C in select unitsExtensive Capital ImprovementsOwnership has made substantial investments in the propertys infrastructure, helping reduce near-term capital expenditure needs:New roof (2015)New siding (2020)Upgraded water system and treatment system (2018)All decks, balconies, and exterior stairways rebuilt or replaced20 of 24 sliding glass doors replacedRetaining wall rebuiltNew well and sump pumps with upgraded power lineNew septic piping for Building 3Numerous water heaters replacedInterior Updates:Many units have been renovated with:New flooring and paint throughoutUpdated bathrooms and fixtures in most unitsKitchen upgrades in select unitsLaundry facilities have also been upgraded with new washers and dryers, enhancing resident convenience and supplemental income.Desirable Catskill Location:Conveniently located on Route 23A with easy access to the Village of Catskill, the Hudson River waterfront, shopping, dining, and major transportation routes. Residents enjoy year-round access to the regions most sought-after attractions, including hiking, skiing, golf, fishing, boating, and the Catskill Mountains.Investment Highlights:12-unit multifamily apartment complexThree separate residential buildingsStrong in-place cash flowAdditional laundry incomeTenant-paid electric, heat, and hot waterBelow-market rents with value-add potentialExtensive completed capital improvementsProjected 9 pct cap rate at market rentsHighly desirable Hudson Valley locationQualified buyers will receive a comprehensive due diligence package, including rent rolls, operating statements, market rent analysis, and capital improvement records upon execution of a confidentiality agreement.Explore the propertys dedicated website, aerial drone photography, 3D virtual tours, and floor plans to experience this exceptional Catskill multifamily investment opportunity.