BEDS9
BATHS3 full
MLS#973933
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLPoughkeepsie City
Property Description
Academy Street Development OpportunityMulti-Family + 2 Vacant Parcels | Value-Add + Redevelopment PotentialLocated in the heart of Downtown Poughkeepsie's rapidly evolving corridor, this Academy Street offering presents a rare opportunity to acquire a multi-family property along with two adjoining vacant parcels, ideal for both immediate income and future development.The existing multi-family structure features large residential units with strong rental potential, making it an attractive value-add investment. With renovations, this property can generate solid cash flow while providing a strategic hold for future expansion.What truly sets this offering apart are the two additional vacant parcels, creating a unique assemblage that opens the door to a variety of redevelopment possibilities. Whether expanding the current building, constructing new residential units, or creating a mixed-use concept, the flexibility here is a major advantage.Situated within the MU-5 (Mixed-Use 5) zoning district, the property allows for:Multi-family residential developmentRetail, office, and service-based usesPotential for up to 5 stories (with bonus height opportunities up to 7 stories)Developers and investors will appreciate the ability to maximize density in a high-demand rental market, all while being positioned near major amenities, transportation, and ongoing city revitalization efforts.Additional highlights include:Prime downtown location near business district, courthouse, and train stationStrong rental demand in the areaFlexible zoning supporting multiple development strategiesOpportunity to create scale with adjacent parcelsThis is an ideal opportunity for an investor or developer looking to combine immediate income with long-term upside, in one of Poughkeepsie's most active growth areas.
Property Features
Property Type: Multi Unit - Multiple
Basement: Full
Basement: Yes
Cooling: None
Heating: Natural Gas
Lot Size: 0.07 Acres
Taxes: $4,150
Year Built: 1900
Amenities
High Ceilings
Natural Woodwork
Feature Descriptions
Attic: Crawl
Building Area Total: 3828
Days on Site: 1
Exterior: Brick
On Market Date: 2026-04-08
Parcel Number: 131300-6161-21-084989-0000
Parking Features: Common, Oversized, Parking Lot, Private
Parking Total: 20
Property Attached Y/N: 1
Rental Term: Monthly
Separate Electric Meters: 3
Separate Gas Meters: 1
Sewer: Public Sewer
Units: 3
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Trash Collection Public
Water: Public
Local Schools
High School: Poughkeepsie High School
School District: Poughkeepsie City
Listed By / Shown By
Listing By
Agency Name: K. Fortuna Realty, Inc.
Agency Phone: 845-632-3492
Shown By
Agency Title: RealtyMark
Agency Phone: 888-240-0600
Estimate Your Payment
Estimated Payment
$ 2,107.90 per month $1,557.90 Principal & Interest $345.83 Property Tax $204.17 Homeowner's InsuranceChange Payment Information
50 Academy Street | MLS# 973933
This multi-family property located at 50 Academy Street , Poughkeepsie, NY 12601 is currently listed for sale with an asking price of $700,000. Academy Street is located within the Poughkeepsie City school district. Search Poughkeepsie real estate on www.realtymark.net today.