6
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Listed by: Hudson Modern
$625,000
Est. payment /mo
8 Beds
4,074 SqFt
Active
17 Downs ST Kingston, NY 12401
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,074 sqft
Price per Sqft $153
MLS Listing ID 20263090
Bedrooms 8
Year Built 1950
Annual Tax Amount $16,462
Tax Year 16462
Lot Size 6,499 Sqft
Acres 0.15
Property Sub-Type Multi Family
Source Hudson Valley Catskills Region Multiple List Service (Ulster County Board of REALTORS®)
Property Description
A rare six-unit asset in one of Kingston's most opportunistic zoning transects. 17 Downs Street delivers a strong 8.19 cap rate on a 625,000 ask while sitting in a T5-Neighborhood (T5N) zone built for exactly the kind of upside that's getting harder to find in the Hudson Valley.
The unit mix is purpose-built for flexibility: two 2-bedrooms, two 1-bedrooms, and two studios, a spread that lets an owner play multiple tenant profiles -- long-term residential stability in the larger units, premium furnished or transitional rents in the smaller ones.
Here's where T5N earns its keep. Kingston's form-based code reserves its full short-term-rental (STR-F) permit type for T4 and T5 transects only -- 17 Downs sits in that eligible band. The same zone is written to encourage a diverse mix of residential building types, general retail, and small to medium-sized neighborhood-supporting commercial uses, putting boutique lodging, live-work, and ground-floor hospitality concepts genuinely on the table for a creative buyer. In a walkable, restaurant-dense city that has become a legitimate Hudson Valley destination, that hospitality optionality is the differentiator -- most multifamily product can't touch it.
Built in 1950, with the bones and scale that make Kingston's housing stock so livable, this is a clean opportunity with a second gear for an operator who wants to lean into Kingston's visitor economy.
The unit mix is purpose-built for flexibility: two 2-bedrooms, two 1-bedrooms, and two studios, a spread that lets an owner play multiple tenant profiles -- long-term residential stability in the larger units, premium furnished or transitional rents in the smaller ones.
Here's where T5N earns its keep. Kingston's form-based code reserves its full short-term-rental (STR-F) permit type for T4 and T5 transects only -- 17 Downs sits in that eligible band. The same zone is written to encourage a diverse mix of residential building types, general retail, and small to medium-sized neighborhood-supporting commercial uses, putting boutique lodging, live-work, and ground-floor hospitality concepts genuinely on the table for a creative buyer. In a walkable, restaurant-dense city that has become a legitimate Hudson Valley destination, that hospitality optionality is the differentiator -- most multifamily product can't touch it.
Built in 1950, with the bones and scale that make Kingston's housing stock so livable, this is a clean opportunity with a second gear for an operator who wants to lean into Kingston's visitor economy.
Location
State NY
County Ulster
Area Kingston, City
Zoning T5N
Schools
High Schools Kingston Consolidated
School District Kingston Consolidated
Others
Tax ID 56.25-1-24
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