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363-369 Liberty st 363-369 Liberty st 8 Unit Apartment Building $1,350,000 ($168,750/Unit) 7% Cap Rate Newburgh, NY 12550
Investment Highlights
- 8-Unit, 100% Free Market Multifamily
- $1,350,000 Offering Price with a Current In-Place Cap Rate of 7.0%
- Revitalizing Liberty Street Corridor, Prime Newburgh Location
- Uniform Layout, 100% 2-Bedroom Duplex Units
- Mark-to-Market Value-Add Opportunity with Projected 9.7% Pro Forma Cap Rate
Executive Summary
The New York Multifamily Group at Marcus & Millichap is pleased to exclusively offer 363-369 Liberty Street for sale, an 8-unit multifamily property located at 363-369 Liberty Street in Newburgh's historic district. The property is approximately 6,800 gross square feet, contains 8 fully free-market residential units, and is currently 100% occupied. The building is offered at a $1,350,000 price, representing a 7% caprate with a projected value-add path to a 9.9% stabilized yield.
VALUE-ADD UPSIDE
Clear path to achieve upside through organic turnover and rent growth. By increasing rents to the $2,200 market average, investors could achieve a 9.9% stabilized cap rate and a 17.78% cash-on-cash return.
NEWBURGH REVIVAL
Located at the epicenter of revitalization, the asset is backed by $188M in private investments. A $6.89M state grant will upgrade Liberty Street infrastructure, paving the way for 209 new mixed-income apartments.
EMPLOYMENT ANCHORS
Walkable to major economic drivers, the property is 0.5 miles from St. Luke's Cornwall Hospital, employing 1,247 professionals, and 0.8miles from Mount Saint Mary College, ensuring a stable local tenant pool.
STABLE IN-PLACE ASSET
The property is 100% occupied, providing immediate cash flow and 100% free market opportunity
UNIFORM UNIT CONFIGURATION
The property features a perfectly uniform physical layout, with all eight residential units having an identical 800-square-foot, 2-bedroom, 4-room configuration. This 100% uniform unit mix significantly simplifies ongoing property management and maintenance operations.
VALUE-ADD UPSIDE
Clear path to achieve upside through organic turnover and rent growth. By increasing rents to the $2,200 market average, investors could achieve a 9.9% stabilized cap rate and a 17.78% cash-on-cash return.
NEWBURGH REVIVAL
Located at the epicenter of revitalization, the asset is backed by $188M in private investments. A $6.89M state grant will upgrade Liberty Street infrastructure, paving the way for 209 new mixed-income apartments.
EMPLOYMENT ANCHORS
Walkable to major economic drivers, the property is 0.5 miles from St. Luke's Cornwall Hospital, employing 1,247 professionals, and 0.8miles from Mount Saint Mary College, ensuring a stable local tenant pool.
STABLE IN-PLACE ASSET
The property is 100% occupied, providing immediate cash flow and 100% free market opportunity
UNIFORM UNIT CONFIGURATION
The property features a perfectly uniform physical layout, with all eight residential units having an identical 800-square-foot, 2-bedroom, 4-room configuration. This 100% uniform unit mix significantly simplifies ongoing property management and maintenance operations.
Property Facts
| Price | $1,350,000 | Property Subtype | Apartment |
| Price Per Unit | $168,750 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7% | Lot Size | 0.46 AC |
| Gross Rent Multiplier | 8 | Building Size | 6,800 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Zoning | RM - Residential | ||
| Price | $1,350,000 |
| Price Per Unit | $168,750 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 8 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 6,800 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Zoning | RM - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 331100-011-000-0004-016.000-0000 | Improvements Assessment | $208,300 |
| Land Assessment | $21,600 | Total Assessment | $229,900 |
Property Taxes
Parcel Number
331100-011-000-0004-016.000-0000
Land Assessment
$21,600
Improvements Assessment
$208,300
Total Assessment
$229,900
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363-369 Liberty st | 363-369 Liberty st
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