238-240 Grand ST Newburgh, NY 12550
7,501 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 959966
Rental Info No
Year Built 1890
Annual Tax Amount $26,289
Lot Size 7,501 Sqft
Acres 0.1722
Property Sub-Type Multi Family
Source onekey2
Property Description
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 asset—one that blends architectural legacy with modern income performance.
Location
State NY
County Orange County
Rooms
Basement See Remarks, Unfinished
Interior
Heating Baseboard, Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Off Street
Utilities Available Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Trash Collection Public, Water Available, Water Connected
View Mountain(s), River
Total Parking Spaces 8
Building
Lot Description Historic District, Near Public Transit, Near School, Views
Foundation Brick/Mortar, Stone
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Newburgh
Middle Schools Newburgh
High Schools Newburgh
School District Newburgh
Others
Special Listing Condition None
Nearby Locations