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Oak Crest 39 Summersweet Dr 28 Unit Apartment Building $2,000,000 ($71,429/Unit) Poughkeepsie, NY 12603
Investment Highlights
- Governed by an HTFC regulatory framework allocating 100% of the portfolio to very low-income residents earning at or below 50% AMI.
- Located in the heart of Dutchess County, offering seamless connectivity to major regional employers.
- Features large layouts heavily weighted towards family spaces.
- Features a lucrative, assumable secondary loan from the New York State Housing Trust Fund Corporation locked in at a 1% interest rate.
- Consists of 28 total residential units spread across 8 townhouse clusters.
Executive Summary
Scale & Layouts: 28 total residential units efficiently spread across 8 high-quality townhouse clusters
Future Development Potential: Available land to build approximately 5-single family homes or 18 townhomes with necessary approvals
Favorable Floorplans: Features large layouts with a heavily weighted premium towards family spaces with 19 Three-Bedroom and 9 Two-Bedroom configurations
100% Affordable Program Structure: Governed by an HTFC regulatory framework allocating 100% of the portfolio (all 28 units) to very low-income residents earning at or below 50% Area Median Income (AMI)
Assumable Financing: Lucrative, assumable secondary loan from the New York State Housing Trust Fund Corporation (HTFC) locked in at a 1% interest rate through February 2035
Strategic Transit & Employment Hub: Located in the heart of Dutchess County, offering seamless connectivity to major regional employers, commuter paths, and the greater New York metropolitan market 2035
Unbeatable Suburban Setting: Situated directly between the highly trafficked, scenic Dutchess Rail Trail and Underhill Road, giving residents immediate access to top-tier outdoor recreation and local amenities
Future Development Potential: Available land to build approximately 5-single family homes or 18 townhomes with necessary approvals
Favorable Floorplans: Features large layouts with a heavily weighted premium towards family spaces with 19 Three-Bedroom and 9 Two-Bedroom configurations
100% Affordable Program Structure: Governed by an HTFC regulatory framework allocating 100% of the portfolio (all 28 units) to very low-income residents earning at or below 50% Area Median Income (AMI)
Assumable Financing: Lucrative, assumable secondary loan from the New York State Housing Trust Fund Corporation (HTFC) locked in at a 1% interest rate through February 2035
Strategic Transit & Employment Hub: Located in the heart of Dutchess County, offering seamless connectivity to major regional employers, commuter paths, and the greater New York metropolitan market 2035
Unbeatable Suburban Setting: Situated directly between the highly trafficked, scenic Dutchess Rail Trail and Underhill Road, giving residents immediate access to top-tier outdoor recreation and local amenities
Property Facts
| Price | $2,000,000 | Apartment Style | Garden |
| Price Per Unit | $71,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 39.82 AC |
| Sale Condition | Bulk/Portfolio Sale | Building Size | 42,263 SF |
| No. Units | 28 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2004 |
| Property Subtype | Apartment | ||
| Zoning | R20 | ||
| Price | $2,000,000 |
| Price Per Unit | $71,429 |
| Sale Type | Investment |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 39.82 AC |
| Building Size | 42,263 SF |
| No. Stories | 2 |
| Year Built | 2004 |
| Zoning | R20 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Gas Range
- Walk-Up
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,202,800 | |
| Land Assessment | $531,400 | Total Assessment | $1,734,200 |
Property Taxes
Parcel Numbers
Land Assessment
$531,400
Improvements Assessment
$1,202,800
Total Assessment
$1,734,200
(212) 544-9500
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Contacts
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Victor Sozio -
Shimon Shkury -
Remi Mandell -
Chéri Roohi -
Ariel Property Advisors
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