2-4 Slate Street, New Paltz, NY 12561

Property Description

Rare opportunity to acquire a high-quality fully leased New Paltz college rental property in close proximity to the SUNY New Paltz campus. The building was purpose-built as a two-unit college rental in 1994, delivering some of the most desirable college rental housing in town. The building has consistently been fully leased throughout current ownership, with students from the SUNY sports teams consistently renewing their leases. Each unit has seven spacious bedrooms, two full bathrooms, in-unit laundry, two common areas, and plenty of on-site parking. Tenants pay all utilities and both units are leased through July 31, 2027. Current rents of 775 and 795 per bedroom are somewhat below market, promising future revenue growth. Full financials available upon request.