238-240 Grand Street,Newburgh, NY 12550
Newburgh, NY 12550
Description
Fully Available! 238-240 Grand Street is a six-unit multifamily investment, with approval for basement unit, set within a late-19th-century brick residence, a period when buildings were constructed to endure. The property’s solid masonry walls, ornate cornice work, and classic proportions speak to an era of craftsmanship rarely replicated today, offering investors a tangible sense of permanence alongside reliable income. Originally built as a grand single residence, the building has been thoughtfully adapted into income-producing apartments while retaining its architectural character. Wide window bays, generous ceiling heights, and substantial wall construction translate into apartments that rent well and hold value through market cycles. From an investment standpoint, the asset delivers stabilized in-place income at a competitive cap rate, supported by a straightforward expense profile and proven tenancy. The structure’s load-bearing brick construction with wood-framed floors and roof offers long-term durability that continues to attract tenants and investors alike. The offering includes an adjacent lot used exclusively for off-street parking, an understated but meaningful amenity that supports tenant retention in this historic neighborhood. No development potential is being marketed; the parcel functions solely as parking. Situated moments from the Newburgh Waterfront and key regional employers, the property benefits from consistent rental demand while offering investors ownership of a true historic assetone that blends architectural legacy with modern income performance.
Details
| MLS # | 959966 |
|---|---|
| Listing Type | For Sale |
| Style | Multi-Family |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1890 |
| Days On Site | 208 |
| Listing Provided By | RE/MAX Benchmark Realty Group | Jake M. Ponessi |
Features
| SQ Feet | 6,570 |
|---|---|
| Basement | Y |
| Units | 6 |
| Zoning | RL |
| Acreage | 0.17 |
| Property View | Mountain(s), River |
Interior
| Cooling | Wall/Window Unit(s) |
|---|---|
| Heating | Baseboard, Natural Gas |
Exterior
| Construction Materials | Brick |
|---|---|
| Foundation Details | Brick/Mortar, Stone |
| Lot Features | Historic District, Near Public Transit, Near School, Views |
Parking
| Parking Features | Off Street |
|---|
Utilities
| Utilities | Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Trash Collection Public, Water Available, Water Connected |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Assessed Value | 828000 |
| Tax Annual Amount | 26289.37 |
| Tax Lot | 2 |
Area Information
| State | NY |
|---|---|
| County | Orange County |
| City | Newburgh |
| Zip Code | 12550 |
| School District | Newburgh Free Academy |
| Elementary School | Newburgh |
| High School | Newburgh Free Academy |
| Listing VS Median (in 12550) | |
Price: $1,199,999 low | high Med: $399,000 sqft: 6,570 low | high Med: 2,043 $ / sqft: $183 low | high Med: $195 On site: 208 low | high Med: 83 | |
Market Activity 12550
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Learn More About This Property
| State | NY |
|---|---|
| County | Orange County |
| City | Newburgh |
| Zip Code | 12550 |
| School District | Newburgh Free Academy |
| Elementary School | Newburgh |
| High School | Newburgh Free Academy |
| Listing VS Median (in 12550) | |
Price: $1,199,999 low | high Med: $399,000 sqft: 6,570 low | high Med: 2,043 $ / sqft: $183 low | high Med: $195 On site: 208 low | high Med: 83 | |
