Thompson, NY 12701

Property

Ownership: For Sale
Type: Multi-Family
Lot Size: 2.6 Acres

Financials

Price:$1,900,000
Annual Taxes:$18,998
2415 Montauk Highway PO Box 742, Bridgehampton, NY 11932
Listing Courtesy of Catskills Home Services

Rare investment opportunity in the Village of Monticello.

Description

Rare investment opportunity in the Village of Monticello. Whether you’re looking to expand an existing portfolio or secure a strong long-term asset, 589–593 W Broadway presents a compelling, fully occupied income-producing opportunity featuring 13 rental units across three separate buildings. Set on a generous 2.64-acre parcel, the property offers both scale and flexibility, with meaningful room for future value-add improvements in a growing and increasingly active market. The unit mix is well diversified, consisting of three one-bedroom apartments, eight two-bedroom apartments, and two three-bedroom apartments—supporting broad tenant demand and helping to stabilize rental income across multiple segments. Several units have already been recently renovated, enhancing tenant appeal and reducing near-term capital needs while still leaving upside for further improvements, rent optimization, and overall asset repositioning. With its strong unit count, spread of layouts, and expansion potential, this property is well-positioned for an investor seeking cash flow today with long-term growth potential tomorrow. Conveniently located near a strong mix of dining, shopping, and regional attractions, the property offers tenants easy access to everyday amenities and lifestyle drivers that support long-term rental demand. Nearby dining options include Monticello Bagel Bakery, Memito’s Tacos, Chinatown Kitchen, Salt & Pepper, Nelly’s Latin Restaurant, Monticello Diner, Yanni’s Gyro Express, and Ciao Bella. Everyday conveniences are just minutes away, including Walmart, ShopRite, Old Navy, Marshalls, Starbucks, Home Depot, and Five Below. Major regional destinations such as Bethel Woods Center for the Arts, Resorts World Catskills, Kartrite Indoor Water Park, YO1 Spa, and Monster Golf Course are also within close proximity, enhancing the area’s appeal for both year-round residents and visitors.

Amenities

  • Cable Connected
  • Cleared
  • Electricity Connected
  • Electric Oven
  • Freezer
  • Neighborhood
  • Refrigerator
  • Sewer Connected
  • Trash Collection Public
  • Trees/Woods
  • Water
  • Water Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.