New Listing - 06/08/2026
17 Downs Street, Kingston, NY, 12401
8 beds
1950
A rare six-unit asset in one of Kingston's most opportunistic zoning transects. 17 Downs Street delivers a strong 8.19 cap rate on a 625,000 ask while sitting in a T5-Neighborhood (T5N) zone built for exactly the kind of upside that's getting harder to find in the Hudson Valley. The unit mix is purpose-built for flexibility: two 2-bedrooms, two 1-bedrooms, and two studios, a spread that lets an owner play multiple tenant profiles -- long-term residential stability in the larger units, premium furnished or transitional rents in the smaller ones. Here's where T5N earns its keep. Kingston's form-based code reserves its full short-term-rental (STR-F) permit type for T4 and T5 transects only -- 17 Downs sits in that eligible band. The same zone is written to encourage a diverse mix of residential building types, general retail, and small to medium-sized neighborhood-supporting commercial uses, putting boutique lodging, live-work, and ground-floor hospitality concepts genuinely on the table for a creative buyer. In a walkable, restaurant-dense city that has become a legitimate Hudson Valley destination, that hospitality optionality is the differentiator -- most multifamily product can't touch it. Built in 1950, with the bones and scale that make Kingston's housing stock so livable, this is a clean opportunity with a second gear for an operator who wants to lean into Kingston's visitor economy.
Status:
Active
Type:
Multi-family
Units:
6
Zoning:
T5N
Acreage:
0.15
Est. Taxes:
$16,462
Assessment
$265,000
School District:
Kingston
MLS #:
20263090
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Listing courtesy of Hudson Modern