54 Leroy Place

Description

A rare opportunity to acquire a fully leased, income-producing property in Newburgh’s highly desirable East End Historic District. This Craftsman-style four-unit building offers immediate cash flow with long-term appreciation potential in one of the city’s most architecturally significant neighborhoods. A massive stone wraparound porch sets a commanding first impression, complemented by a detached garage and classic period detailing throughout. The property is configured as four apartments, all currently rented to long-term tenants: First floor: Spacious 2BR/1BA unit featuring exceptional original details including functioning pocket doors, preserved woodwork, hardwood floors, two fireplaces, and an eat-in kitchen. The flexible layout allows the second bedroom to function as a sitting room or home office. Second floor: Two 1BR/1BA apartments; Third floor: One 1BR/1BA apartment. Enjoy views of the Hudson River, Newburgh Beacon Bridge, and mountains from the upper levels. A partially finished basement enhances tenant amenities and owner value, offering a common laundry room, recreation space, half bath, and generous storage. The three-stall detached garage with a separate second-floor space offering additional income-generating or utility potential. This flexible area can be utilized for storage, office use, gym, or artist studio, creating optional revenue streams or enhanced amenities that differentiate the asset within the market. With strong in-place tenancy, architectural character that supports premium positioning, and the option to maintain as a rental or pursue future single-family restoration, 54 Leroy Place represents a compelling core-plus investment in a neighborhood experiencing continued demand from renters and owner-occupants alike.