62 Main Street, Philmont, NY 12534

Property Description

Six buildings, twenty-three units, four blocks of the Philmont village core, held in single ownership since 2022 and offered as one. Nineteen units leased. Trailing twelve-month net operating income of 195,147 dollars on 306,128 dollars of effective gross income, cash basis, per ownership's books; stabilized net operating income projected at 223,289 dollars once four ordinary vacancies are turned at rents already achieved in the same buildings. The repositioning is a record rather than a projection: tenants in continuous occupancy since the 2022 acquisition have seen contract rents rise from a median of 825 dollars to a median of 1,275 dollars on the same units. Ownership converted 62 Main from central oil to individual electric heat, restored facade work, renovated bathrooms and upgraded insulation throughout. 62 Main (6 units), 20 Church (4), 7 Canal (4), 3 Elm (4), 3 Church (3), 5 Elm (2). Fifteen minutes to Hudson and Amtrak.