Rock-solid opportunity to convert from commercial to residential use in quiet neighborhood.
Zoned for four (4) family residence.
"Cost of conversion" is cheaper and quicker than building new or gutting/extensive renovations.
Standard site-plan review required by the City; this prosed use is a "as of right' use under new zoning designation: RNC.
City of Poughkeepsie needs new housing with demand out-stripping supply.
Building is in excellent condition. Ready for your architect/engineer to lay out the floor plan for four units, then call the framer, plumber and electrician.
Close to all the City has to offer and shopping & transportation; Rt 9, Bridge, Hudson Line train.
Off-street parking.
Will generate top rents upon completion of new units.
1 Cottage Street, Poughkeepsie, NY, 12601
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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