89 Market Street

Welcome to this income-producing multifamily opportunity delivering an estimated 9.2% current cap rate and generating approximately $105,000 in annual gross rental income. This well-maintained, fully occupied five-unit property is located at the corner of Market Street and Noxon Street in Poughkeepsie. Tenants pay for heat, hot water and electric, the landlord pays water, sewer and garbage. The main building on Noxon Street contains three apartments. The first-floor apartment is handicap-accessible and offers two bedrooms and one bathroom. The two upper apartments each feature a living room, kitchen, and half bath on the main level, with a walk-up to the bedrooms and a full bathroom upstairs. One has two bedrooms and the other has three. These apartments have newer gas on-demand systems for heat and hot water. The attached Market Street building has two apartments: a three-bedroom, one-bath unit and a one-bedroom, one-bath unit. Both feature air conditioning and heat pumps for heating and cooling. Parking includes three spaces beside the building, with room for approximately two additional vehicles in front. The property is conveniently located near shopping, dining, Metro-North service, and Route 9. Don’t miss this opportunity to own a well-maintained, fully occupied five-unit property in a convenient Poughkeepsie location.