356 Union Street, Hudson, NY 12534

Property Description

A Second Empire Manse positioned one of Hudson's most desirable residential blocks of Union Street, this turn-key five-unit investment property is located across from the historic Courthouse Square, and sits just one block from the restaurants, galleries, and shops on Warren Street. Thoughtfully restored through a complete gut renovation in 2020, the property is offered in excellent condition and represents a rare turnkey investment opportunity in the heart of downtown Hudson. With five spacious apartments, including four one-bedroom apartments and a two-bedroom penthouse unit, each apartment features generous open-plan living spaces, one full and one half bathroom, in-unit laundry, and contemporary finishes including hardwood floors, new windows, and stainless appliances that complement the building's historic character. Four units are occupied by established tenants paying market rents, while the fifth is currently operated as a successful short-term rental and could also serve as an owner's residence. An income and expense report is available to qualified purchasers. At the rear of the property, a historic carriage house offers further upside potential, with approved plans for additional development. Renovation work has already commenced, with foundation and framing improvements completed. Fully approved plans from the local planning and historic review boards allow for the creation of two additional apartments and provide meaningful future upside. Combining architectural significance, modern infrastructure, strong rental income, and development potential, this is a compelling opportunity to acquire a solid investment property in one of the Hudson Valley's most sought-after markets.