|
37-69 Mt. Ava Maria Drive, Shandaken, NY, 12464 | $1,900,000
Unique Investment Opportunity -
An exceptional offering: a 19-unit multi-family compound located in the heart of one of the Hudson Valley's most beloved travel destinations; Phoenicia, New York.
The property spans 8. 54 picturesque acres, featuring four residential buildings that include:
(3) Studios
(5) One-bedroom units
(9) Two-bedroom units
(2) Three-plus-bedroom apartments
The grounds are beautifully maintained with mature trees, open fields, ample parking, and direct access via a paved municipal street. Currently delivering a cap rate of 8. 71 with clear potential for increased returns. Endless possibilities: continue operating as a high-yield rental property, or reimagine it as a family retreat, community living space, etc.
Rich History -
The existing structures were once part of the 1878 Tremper House of Phoenicia, a grand hotel that overlooked the town and the surrounding Catskill Mountains. Later renamed the Washington Inn, it was known for its luxurious accommodations before being largely destroyed by fire in 1908. Remaining original structures include what were once the carriage house, horse stalls, two-lane bowling alley, chapel, private cottages, and parts of the original hotel. Notable historic features like the music gazebo and water fountain still exist and await restoration.
Highlights -
Family owned for over 50 years.
Rents are currently below market, offering significant upside.
Long-term tenants provide reliable income.
New roofs on all four buildings (within last 6 years).
On-site coin-operated laundry room.
Heating system under regular service contract.
Ideal Location:
15 minutes to Woodstock.
30 minutes to Uptown Kingston and the NYS Thruway traffic circle.
Walking distance to downtown Phoenicia, with bus service to/from NYC.
Close to top local attractions: Empire State Railroad Museum, Emerson Spa and Kaleidoscope, Woodland Valley Museum, Catskill Rail Explorers, Esopus Creek (for fly fishing), hiking trails, mountain climbing, and premier restaurants.
Nearby winter resorts include Belleayre, Catamount, Hunter Mountain, and Windham Mountain Club.
Features
- Bedrooms: 30
- Units: 19
- Laundry: Laundry Room
- Year Built: 1870
- Acreage: 8.54
- Est. Taxes: $20,830
- School District: Onteora
- Appliances: Range, Refrigerator, Washer/Dryer
- MLS#: 20254524
- Days on Market: 277 days
- Website: https://www.raveis.com
/prop/20254524/3769mtavamariadrive_shandaken_ny?source=qrflyer
Information is deemed reliable but is not guaranteed accurate by the MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Source: Hudson Valley Catskills RegionListing courtesy of Off The Wall Management LLC
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
37-69 Mt. Ava Maria Drive, Shandaken, NY, 12464
$1,900,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,520,000 | $1,520,000 | $1,520,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.121% | 6.183% |
| Monthly Tax Payment | $1,736 | $1,736 | $1,736 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,630 | $9,113 | $12,827 |
| Total Monthly Payment | $10,491 | $10,974 | $14,688 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535