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Positioned in the heart of Kingston's vibrant Midtown Business District, this exceptional three-story brick mixed-use building presents a rare opportunity to own a renovated, turnkey investment property along the city's bustling Broadway corridor. Ideally situated between the historic Uptown Stockade District and the Downtown Rondout Waterfront, the property benefits from outstanding visibility, steady foot traffic, and proximity to Kingston's thriving arts, dining, and cultural destinations. The approximately 2, 950-square-foot ground floor is occupied by a well-established, fully operating restaurant and bar, providing immediate income from a prominent commercial space. Above, the second and third floors feature four beautifully renovated residential apartments, all completely updated in 2020 with modern kitchens, stylish bathrooms, separate electric services, and high-efficiency natural gas heating and hot water systems, offering comfort and energy efficiency for tenants. Additional improvements include new windows throughout the entire building, enhancing both aesthetics and efficiency. A full, clean basement provides abundant storage space for commercial or building use. Combining strong income potential, quality renovations, and an unbeatable location in one of Kingston's most dynamic commercial corridors, this is an outstanding investment opportunity for both seasoned investors and owner-operators alike.
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Our Executive Mortgage Banker:
$1,350,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,080,000 | $1,080,000 | $1,080,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.069% | 6.110% | 5.932% |
| Monthly Tax Payment | $2,009 | $2,009 | $2,009 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,964 | $6,475 | $8,968 |
| Total Monthly Payment | $8,098 | $8,609 | $11,102 |
* 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.