19-23 Greenway Lane,Fallsburg, NY 12759
Fallsburg, NY 12759
Description
This 3 unit building is a rare gem of an asset, well built and tremendous cash flow capabilities. These 3 townhouse style units are superbly well built on ground leased land within the boundaries of SUNY Sullivan. Initially built as supplemental housing, it is now the ONLY on campus housing option. All other housing options on campus have been decommissioned. In addition to all of the physical benefits of this LEED certified building the biggest advantage is that it is operated by the College. Owner is only responsible for Capital Projects, of which there are not many. Lease up, management and collections are all handled by the college. Owner collects revenue from the College and pays Utility Bills and Insurance. Purchase is of the building only, the building is on a Ground Lease. Lease has 15 years remaining plus a 10 year option, with a cash buyout. Additionally lease creates exclusive option to develop additional housing within the campus.This is truly a "mailbox money" opportunity.
Details
| MLS # | 932973 |
|---|---|
| Listing Type | For Sale |
| Style | Other |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 302 |
| Listing Provided By | Keller Williams Realty | Peter Berman |
Features
| SQ Feet | 11,085 |
|---|---|
| Basement | Y |
| Story(s) | 3 |
| Building(s) | 1 |
Interior
| Cooling | Wall/Window Unit(s) |
|---|---|
| Heating | Baseboard |
| Appliances | Gas Cooktop, Microwave, Oven, Tankless Water Heater |
Exterior
| Construction Materials | Other |
|---|---|
| Foundation Details | Other |
Utilities
| Utilities | Cable Connected, Electricity Connected, Propane, Sewer Connected, Trash Collection Public, Water Connected |
|---|---|
| Electric | 200+ Amp Service |
| Sewer | Public Sewer |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 0 |
Area Information
| State | NY |
|---|---|
| County | Sullivan County |
| City | Fallsburg |
| Zip Code | 12759 |
| Listing VS Median (in 12759) | |
Price: $1,999,999 low | high Med: $164,500 sqft: 11,085 low | high Med: 986 $ / sqft: $180 low | high Med: $173 On site: 302 low | high Med: 38.5 | |
Market Activity 12759
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Learn More About This Property
| State | NY |
|---|---|
| County | Sullivan County |
| City | Fallsburg |
| Zip Code | 12759 |
| Listing VS Median (in 12759) | |
Price: $1,999,999 low | high Med: $164,500 sqft: 11,085 low | high Med: 986 $ / sqft: $180 low | high Med: $173 On site: 302 low | high Med: 38.5 | |
