589-593 W Broadway, Monticello, NY 12701

Property 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.