BEDS0
BATHS
MLS#1045579
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLPoughkeepsie City
Property Description
Investment Opportunity - High Cash Flow Property in the Heart of PoughkeepsiePresenting 40 S. Hamilton Street, a rare opportunity to acquire a proven income-producing property in the City of Poughkeepsie. This well-established rooming house consists of nine private single-occupancy rooms, seven bathrooms, providing affordable and independent living accommodations that serve a critical role in the local housing market. This property is a grandfathered rooming house (meaning no other property can be zoned as a rooming house without a special permit). Coin operated laundry also included in the basement. The property has demonstrated strong and consistent performance, currently generating approximately $100,000 in annual gross rental income with a current NOI of $49,315.Residents enjoy access to shared common areas including a communal kitchen, lounge, and hallway facilities on each floor, creating a practical and cost-effective housing solution for tenants. Situated on a generous lot, the property features a large rear driveway with ample off-street parking, a valuable amenity for both tenants and management. A substantial basement provides additional storage space and operational flexibility.For investors seeking immediate cash flow, this property is generating income from day one. Beyond its current performance, there are multiple avenues for future upside. Four apartment conversion is allowed by right. If you split the lot, you can build eight apartments on a knockdown. Student housing is also permitted outright (with Marist, Vassar, Dutchess Community College, and CIA nearby). You can also continue operating as a successful rooming house rental property. The combination of strong in-place income, parking, storage, and future value-add potential makes this an attractive acquisition for both experienced and aspiring investors. Additionally, there is a small parking lot in the rear of the building. Whether you're looking to expand your portfolio with a stabilized asset or capitalize on redevelopment and repositioning opportunities, 40 S. Hamilton Street offers a compelling blend of cash flow, flexibility, and long-term potential in a growing rental market.
Property Features
Property Type: Multi Unit - Multiple
Basement: Full, Partially Finished, Storage Space
Basement: Yes
Cooling: None
Heating: Natural Gas, Other
Lot Size: 0.34 Acres
Taxes: $17,939
Year Built: 1890
Amenities
Built-in Features
Other
Feature Descriptions
Building Area Total: 6900
Exterior: Brick
On Market Date: 2026-09-01
Parcel Number: 131300-6161-22-162944-0000
Parking Features: Driveway
Rental Term: Monthly
Sewer: Public Sewer
Units: 9
Utilities: Cable Available, Electricity Available, Trash Collection Public, Water Available
Water: Public
Local Schools
High School: Poughkeepsie High School
Middle School: Poughkeepsie Middle School
Elementary School: Gov George Clinton School
School District: Poughkeepsie City
Listed By / Shown By
Listing By
Agency Name: Real Broker NY LLC
Agency Contact: 855-450-0442
Shown By
Agency Title: Coldwell Banker Choice Properties
Agency Phone: 833-88-CHOICE (2-4642)
Estimate Your Payment
Estimated Payment
$ 3,345.08 per month $1,635.79 Principal & Interest $1,494.92 Property Tax $214.38 Homeowner's InsuranceChange Payment Information
Broker Headquarters, 621 Columbia St. Suite 800, Cohoes, NY 12047
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40 S Hamilton Street | MLS# 1045579
This multi-family property located at 40 S Hamilton Street , Poughkeepsie, NY 12601 is currently listed for sale with an asking price of $735,000. S Hamilton Street is located within the Poughkeepsie City school district. Search Poughkeepsie real estate on www.coldwellbankerchoice.com today.