Save your search and get notified (as often as you like) of new listings, price changes and new open houses that match your search.
Excellent investment opportunity at 53 Carpenter Avenue in the City of Newburgh! Offered at $669,996, this early 1900s six-family property offers approximately 4,276 square feet and consists of five one-bedroom apartments and one studio apartment.
The property has been consistently maintained and enjoys steady occupancy with established, long-term tenants. All six units currently have leases in place, and tenants pay their own utilities, helping to keep owner expenses manageable. Several apartments have been renovated within the past 18 months, the electrical system has recently been updated, and additional mechanical updates have been completed over time.
Current gross rental income is approximately $6,200 per month/$74,400 annually. Owner’s recurring annual operating expenses are approximately $20,600, resulting in estimated Net Operating Income of approximately $53,800 and an approximate 8% cap rate at the current asking price. Income and expense information is provided by the seller and should be independently verified by the buyer.
A major bonus is the large rear parking lot providing ample off-street parking for residents—an especially valuable feature for a six-unit property in the City of Newburgh.
With six established units, leases in place, separate tenant-paid utilities, recent improvements, strong occupancy history and substantial private parking, this is an attractive opportunity for an investor seeking an established income-producing multifamily property. Conveniently located near shopping, dining, transportation, major commuter routes and the Newburgh waterfront.
Mortgage Calculator
Monthly Payment (Est.)
$3,0575 hours ago Listing first seen on site 5 hours ago Listing updated with changes from the MLS®
Based on information submitted to the MLS GRID as of 2026-09-12 08:02 PM EDT.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied
Open House Information is subject to change without notice. All information should be independently reviewed
and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.