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Key Details
Sold Price $499,000
Property Type Commercial
Sub Type Business
Listing Status Sold
Purchase Type For Sale
Square Footage 13,000 sqft
Price per Sqft $38
MLS Listing ID R1468659
Sold Date 01/11/24
Construction Status Existing
HOA Y/N No
Year Built 1900
Annual Tax Amount $9,991
Lot Size 68.210 Acres
Acres 68.21
Lot Dimensions 1120X3000
Property Description
Excellent as a pure investment, or live in one and rent the rest! This cash cow features a lucrative portfolio of rentals on one contiguous 68+ acre property just 20 minutes from Oneonta. Rent revenue comes primarily from the five long term residential units (a sixth studio can also be rented) with diversification built in from storage spaces, a wresting club, and a short term rental cabin. There is huge opportunity to expand the short term rental income with all the extra acreage. In 2022 the property grossed $67,000+ with net operating income over $43,000. The property includes a farmhouse with a large apartment and studio, four single wides, a large barn, a rustic off-grid cabin (featured on Air BnB), and 68+ gorgeous acres of with beautiful views of the surrounding valley. The cap rate of 11% is calculated based on the rental units on 7 acres. The additional 60+ acres will also convey, valued at $1,750/acre. The property is stunning, with blossoming bushes, trees and flowers, lush lawns, and a huge hedge of yellow forsythia. A small greenhouse is a fun bonus. Trails wind through the forest to the top of the mountain and beyond, with 360 degree views. *Video & 3D Tour Available*
Location
State NY
County Otsego
Area Unadilla-366289
Zoning Rural Res
Direction Sign on right if traveling from Unadilla on Route 7.
Rooms
Basement Partial
Interior
Interior Features Bedroom on Main Level
Heating Electric, Propane, Oil, Forced Air, Hot Water
Flooring Hardwood, Linoleum, Varies, Vinyl
Fireplace No
Exterior
Waterfront No
Roof Type Asphalt,Membrane,Metal,Rubber
Handicap Access Accessible Bedroom, Accessible Approach with Ramp
Total Parking Spaces 15
Garage Yes
Building
Story 2
Sewer Septic Tank
Level or Stories Two
Structure Type Frame,Other,See Remarks,Wood Siding
Construction Status Existing
Schools
School District Unatego
Others
Tax ID 337.00-1-33.01
Acceptable Financing Cash
Listing Terms Cash
Financing Conventional
Special Listing Condition Standard
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KW Upstate New York Properties
Broker | License ID: 10991215115
Broker License ID: 10991215115