Academy Collection - 76 Academy Street 1 Multifamily Properties Offered at $4,000,000 in Poughkeepsie, NY

The New York Multifamily Group at Marcus & Millichap is pleased to exclusively offer 76 Academy Street and 90 Montgomery Street (Academy Collection), a 34-unit mixed-use investment property located in the heart of Poughkeepsie, New York. The asset features a blend of residential units and ground-floor commercial space, providing immediate in-place cash flow with a clear value-add opportunity driven by below-market in-place rents and operational upside. With average rents approximately 19.6% below market, the property offers a compelling path to near-term income growth through targeted renovations and lease repositioning. Situated within a stable and improving Hudson Valley submarket, supported by regional employment, education, and ongoing downtown revitalization, the asset benefits from durable demand fundamentals and limited new supply. The business plan focuses on capturing embedded rental upside and expense efficiency gains, supporting meaningful NOI expansion from approximately $283K in place to $346K on a pro forma basis, with a stabilized exit strategy grounded in strong rental demand and long-term growth potential.

STABLE CASH FLOW
The asset features 100% physical occupancy across all 34 units, including 31 residential and 3 commercial spaces. This full utilization generates a stable in-place NOI of $276,537, ensuring reliable day-one yield.

NEARBY MEDICAL HUBS
Located 0.8 miles from Vassar Brothers Medical Center and 1.3 miles from MidHudson Regional Hospital, the property benefits from a built-in tenant base of medical professionals seeking highly convenient housing options.

DIRECT TRANSIT TO NYC
Located under 1 mile from the Poughkeepsie Train Station, the asset offers exceptional commuter convenience. As the terminus for the Metro-North Hudson Line, it provides direct service to Grand Central Terminal in Manhattan.

EMBEDDED EDUCATIONAL DEMAND
The property is situated between two major higher education institutions, Marist College, located 1.5 miles north, and Vassar College, located 2.5 miles southeast. Together, these colleges employ over 2,000 staff and enroll nearly 10,000 students, creating significant, sustained demand for off-campus housing and local retail.