Shown from OneKey MLS. McGrath Realty does not represent this property. We can arrange to show it to you and represent you in buying it.
Building
4,488 SF
Site
0.14 acres
Price / SF
$212
NOI
$117,480
Year built
1900
Zoning
R-3
Stories
4
The offering
Income-producing multifamily opportunity delivering an 8.5% current cap rate, with potential to reach approximately 10.5% at pro forma rents. This 5-unit property features (1) 1-bedroom apartment, (2) 3-bedroom apartments, and (2) 4-bedroom apartments, generating $117,480 in current gross annual income. All tenants pay for heat, hot water, and electricity, while the landlord is responsible for water and sewer. The sale also includes a separately deeded 9-car parking lot, with one parking space for each unit, and every apartment has an in-unit washer/dryer hookup. Located near major anchors such as Route 9, the Mid-Hudson Bridge, Marist College, Vassar College, Dutchess Community College, and the Culinary Institute of America, the property offers strong in-place income with meaningful room for future upside. An ideal opportunity for investors seeking a stable, income-producing asset in a prime Poughkeepsie location. Income & expense information available upon request.
Building & site
Interest conveyedFee simple
Gross building area4,488 SF
Building typeMulti Family
Property typeMulti Family
Year built1900
Stories4
Land area0.14 acres
Land area, SF6,098 SF
WaterPublic
SewerPublic Sewer
HeatBaseboard, Natural Gas
Tax parcel1313006061-36-962836-0000
Electric utilityCentral Hudson
Zoning & permitted uses
District
R-3
Permitted uses are governed by the Poughkeepsie zoning code and should be confirmed with the municipality. Ask a broker for the district summary.
Income & tenancy
Gross income (as reported)
$117,480
Lease terms are summarized from the executed lease and should be independently verified against the document, which is available under confidentiality agreement along with the rent roll and operating statements. Income shown is gross as reported by the listing broker, not verified against an operating statement.
Aerial imagery
The outline is this property's tax parcel from the county assessment roll, over current aerial imagery. Boundaries are indicative and are not a survey.
Location, access & trade area
Trade area
Measure
Poughkeepsie
Dutchess County
Population
45,636
299,963
Daytime population
49,579
277,925
Population density
1,444 / sq mi
377 / sq mi
Households
16,940
116,771
Median household income
$97,724
$94,725
Mean travel time to work
27 min
32 min
Median home value
$354,900
$444,000
Median gross rent
$1,677
$1,617
Unemployment (July 2026)
3.7%
Not stated
School districts
Arlington, Highland, Hyde Park, Marlboro, Poughkeepsie, Spackenkill, Wappingers
ZIP codes
12569, 12590, 12601, 12603, 12604
Municipal and county figures from the US Census American Community Survey (2024 5-year) and the Bureau of Labor Statistics. These are jurisdiction totals, not radius rings; ask a broker for a drive-time or radius study on a specific site.
Taxes & assessment
2025 taxes
$15,377
Assessed value
$385,000
Land assessment
$66,000
Full market value
$385,000
Owner of record
Slate House LLC
School district
Poughkeepsie
Property class
411 · Walk-up apt
Estimated annual tax, 2025 roll
County and town
$5,031
School, Poughkeepsie
$7,143
Special districts
$614
Estimated total
$12,788
The estimate is the assessed value at the current county, town, school and village rates. Not a bill: exemptions, and any change to the assessment or the rates, move it.
Assessment figures are taken from the municipal roll and should be independently verified. Annual tax bills are available on request.
