19-23 Greenway Lane

19-23 Greenway Lane, Fallsburg, NY, 12759

$1,999,999

active

Stories

Type

Commercial

Monthly Cost

Estimate. Actual payment depends on credit, lender, taxes, and insurance.

$10,770/month estimated

Principal & interest: $10,645
Home insurance (est.): $125

Down payment %Interest rate %Term (years)

Down payment: $400,000 · Loan amount: $1,599,999

Description

This 3 unit building is a rare gem of an asset, well built and tremendous cash flow capabilities. These 3 townhouse style units are superbly well built on ground leased land within the boundaries of SUNY Sullivan. Initially built as supplemental housing, it is now the ONLY on campus housing option. All other housing options on campus have been decommissioned. In addition to all of the physical benefits of this LEED certified building the biggest advantage is that it is operated by the College. Owner is only responsible for Capital Projects, of which there are not many. Lease up, management and collections are all handled by the college. Owner collects revenue from the College and pays Utility Bills and Insurance. Purchase is of the building only, the building is on a Ground Lease. Lease has 15 years remaining plus a 10 year option, with a cash buyout. Additionally lease creates exclusive option to develop additional housing within the campus. This is truly a "mailbox money" opportunity.

Appliances

✓ Gas Cooktop
✓ Microwave
✓ Oven
✓ Tankless Water Heater

Property Details

Cooling: Wall/Window Unit(s)
Heating: Baseboard

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Listed by Peter Berman, Keller Williams Realty

MLS# KEY932973845-928-8000

Listings courtesy of OneKey® MLS as distributed by MLS GRID

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