586 Old Route 23

Turn-key scale, operational efficiency, with both short and long-term upside. Set on 4.7 acres, with 5 detached buildings: a main building with 9 various-sized units, a single-unit cottage, and two motel-style outbuildings -- one with 8 units and one with 2 units, all individually metered. There is space for a 21st, 3 bedroom apartment, an empty garage that can be leased commercially, and the parcel offers even more long term development potential with additional units, self-storage and more, subject to municipal approvals. The property has undergone a comprehensive renovation program across the majority of units -- ranging from fresh paint and new flooring to full gut renovations including new kitchens, bathrooms, electrical, plumbing, sheetrock, heating, and appliances. Infrastructure improvements include a complete water system overhaul, a new septic tank installation, repair of three existing septic tanks, and a new roof on two units. The result is a stabilized, well-capitalized asset with deferred maintenance addressed and a clean operating baseline going forward. Nearby communities including Hudson, Leeds, Catskill, and Windham are seeing renewed investment and development activity -- from boutique hospitality to mixed-use revitalization projects -- driving economic activity and long-term rental stability across Greene County. Located directly off Route 23, the property serves a tenant base spanning a range of incomes and occupations. It delivers dignified, well-maintained housing that tenants stay in, not cycle through -- making it especially well-positioned in a region where demand for workforce housing continues to outpace supply. RECENT IMPROVEMENTS New roof on main building and multiple units Parking lot graded and stoned Exteriors painted 1 new septic tank 3 septic tanks repaired Landscaping UNIT IMPROVEMENTS Unit 1 -- No renovation; tenant has lived there approximately 10 years Unit 2 -- Full renovation: new kitchen, flooring, bathroom, appliances Unit 3 -- New paint, new bathroom Unit 4 -- New paint Unit 5 -- New paint Unit 6 -- New paint Unit 7 -- Major renovation: new bathroom, flooring, doors, lighting, kitchen, appliances Unit 8 -- New paint Unit 9 -- New paint Unit 10 -- New paint Units 11-18 -- Full renovation: electrical, sheetrock, heating, bathrooms, flooring, plumbing, lighting Unit 19 -- New paint, new kitchen, new flooring Unit 20 -- New flooring, new kitchen, new paint