Philmont Portfolio

Highlights:

• Total Number of Properties: 9 houses. 1 carriage house, and 2 garages.
• Total Units: 36 units across all properties, ranging from 1-bedroom apartments to 3-bedroom duplexes.
• Renovation Status: Major renovations completed or underway in 62 Main Street, 1 Church St., 7 Canal St., and 20 Church Street.
• Pro Forma NOI: $433,661.
• Historical Tax Credit: 7 Church St. (both front and rear buildings) qualifies for approximately 30% refundable credit from NYS and a 20% tax credit from IRS. Full approvals are already in place from New York State Historic Preservations Office and the National Parks Service. See HISTORIC PRESERVATION TAX CREDITS page for details.
• Management: Owner manages using DoorLoop software, with a crew of contractors already in place.
• Utilities: Many units have been upgraded with new heating systems. Oil heating has been removed from all but 9 units. Financing: Opportunity for financing structure details to be discussed. Current mortgage terms are assumable.

Description:

This exclusive opportunity features a portfolio of nine properties in Philmont, NY, offering a mix of residential units across various addresses, all within a few block radius. The seller, a seasoned investor, prefers to sell the portfolio as a whole, though individual sales are possible. This portfolio offers an immediate income-generating investment with a projected NOI of $433,661. With a mix of fully renovated units and others primed for upgrades, the portfolio promises both stability and growth potential. Each property has been maintained by the owner, who employs a team of contractors and utilizes DoorLoop for seamless property management. This portfolio offers immediate returns and long-term appreciation in a market with rising property values and increasing demand.

Philmont, NY is a charming village nestled in Columbia County, offering a perfect balance of small-town appeal and convenient access to major regional hubs. Located just 15 minutes from Hudson, NY, Philmont provides easy access to the cultural vibrancy and historic charm of Hudson's renowned shops, galleries, and dining. Additionally, the village sits about 35 miles west of the Berkshires in Massachusetts, a region celebrated for its scenic beauty, cultural institutions, and outdoor activities.

Accessibility is a standout feature of Philmont. The village is located near the Taconic State Parkway, providing a direct route to New York City, just over two hours away by car. For train travelers, the Hudson Amtrak station is a short drive, offering regular service to NYC and other destinations along the Hudson River.

Philmont is surrounded by natural beauty and boasts several local attractions. Nearby, you’ll find Clermont State Historic Site and Lake Taghkanic State Park, ideal for hiking, picnicking, and water activities. The village itself features a growing selection of boutique restaurants and coffee shops, reflecting a vibrant local food scene. Not far away, Basilica Hudson in Hudson, NY, offers top-rated entertainment, including concerts, art exhibitions, and festivals.

With its strategic location, rich local culture, and natural surroundings, Philmont is a hidden gem in the Hudson Valley region.

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