1825 Route 6 is a 4-unit multifamily property located on the Route 6 corridor in Carmel, NY.
All 4 apartments have been renovated since 2014 featuring new appliances and updated kitchens.
In the Spring of 2016 the building received a completely new exterior (new siding, gutters, leaders, sofits, roof overhangs and window trim).
The electric service is 7 years old and all apartment units are separately metered.
The building is approved for the Section 8 program at rents higher than the current monthly rent (as shown in the pro forma rents in the analysis). A new owner could significantly increase rents.
Additional income can be captured through a 4 car garage that has previously been rented out for $450 a month (attributed in this analysis as miscellaneous income) and is separately metered.
The property has 8 parking spaces and is located within walking distance of shopping and restaurants and a short drive to the Southeast Metro North Station.
The property is zoned for future commercial development as well.
Carmel, Putnam County, NY