37-69 Mt. Ava Maria Drive, Phoenicia
$1,900,000
Unique Investment Opportunity -
An exceptional offering: a 19-unit multi-family compound located in the heart of one of the Hudson Valley's most beloved travel destinations; Phoenicia, New York.
The property spans 8.54 picturesque acres, featuring four residential buildings that include:
(3) Studios
(5) One-bedroom units
(9) Two-bedroom units
(2) Three-plus-bedroom apartments
The grounds are beautifully maintained with mature trees, open fields, ample parking, and direct access via a paved municipal street. Currently delivering a cap rate of 8.71 with clear potential for increased returns. Endless possibilities: continue operating as a high-yield rental property, or reimagine it as a family retreat, community living space, etc.
Rich History -
The existing structures were once part of the 1878 Tremper House of Phoenicia, a grand hotel that overlooked the town and the surrounding Catskill Mountains. Later renamed the Washington Inn, it was known for its luxurious accommodations before being largely destroyed by fire in 1908. Remaining original structures include what were once the carriage house, horse stalls, two-lane bowling alley, chapel, private cottages, and parts of the original hotel. Notable historic features like the music gazebo and water fountain still exist and await restoration.
Highlights -
Family owned for over 50 years.
Rents are currently below market, offering significant upside.
Long-term tenants provide reliable income.
New roofs on all four buildings (within last 6 years).
On-site coin-operated laundry room.
Heating system under regular service contract.
Ideal Location:
15 minutes to Woodstock.
30 minutes to Uptown Kingston and the NYS Thruway traffic circle.
Walking distance to downtown Phoenicia, with bus service to/from NYC.
Close to top local attractions: Empire State Railroad Museum, Emerson Spa and Kaleidoscope, Woodland Valley Museum, Catskill Rail Explorers, Esopus Creek (for fly fishing), hiking trails, mountain climbing, and premier restaurants.
Nearby winter resorts include Belleayre, Catamount, Hunter Mountain, and Windham Mountain Club.
Paved, Gravel, Additional Parking
Washer/Dryer, Refrigerator, Range
Onteora Central School District
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