$785,000

The Arlington House Circa 1864. The Arlington House offers a number of opportunities from investment or commercial to live/work or large single family home. The property is in the hamlet of Palenville in the town of Catskill, NY and is home to the country's first Art Colony. Currently operated as a 4 unit with a 3500 square foot 5 bedroom, 3 bath main house, with three 1 bedroom apartments in the adjoining building. The main house received a full gut renovation in 2011 and the apartment building in 2023. There is all new drywall, insulation, plumbing and electric as well as a new wrap around porch, roof and box gutters. The house was primarily used as a short term rental after the renovation, hosting small weddings, group gatherings and ski trips (11 miles to Hunter Mountain Ski resort). The main house has a large open floor plan and parlour that lend themselves to entertaining large groups. There is also a 3rd floor walk up attic that was originally a living space years ago. That has been gutted with electric and plumbing roughed in as the owner was going to finish that as a private space for himself. The separate apartment building has 3 one bedroom units. Two of them are complete and the third unit is ready for you to finish with brand new kitchen cabinets in the boxes and onsite. The 3rd apartment was a large 3 bedroom 2 bath unit that was split to create a laundry room or potential 5th unit with proper permitting. That space also has electric and plumbing roughed in and could be finished or returned to make a larger brand new 4th unit. This amazing historic home looks up at the mountains through the Kaaterskill Clove. Surrounded by skiing, hiking, swimming in the nearby creeks, Kaaterskill Falls and North Lake. Only 10 minutes from the villages of Catskill and Saugerties and 20 minutes to Hudson,Amtrak and Woodstock. Palenville is home to the Rip Van Winkle Golf Course, the Circle W Cafe and General Store and The Griffin House, recently taken over by the previous management of Tavern on the Green. The Griffin house is a great pub with small festivals in their beautiful outdoor space overlooking the creek. A bed and breakfast or inn would be a great addition to the town. The Arlington House lends itself to whatever you envision whether it's a single family home with ADU units or strictly an investment property. It has a proven track record as an earner with financials available Cap rate of 6 with potential for 8 with the completion of the 4th unit. Book your showing today.