The New York Multifamily Group at Marcus & Millichap is pleased to exclusively offer 77-79 Garden St for sale, a 1920-built, 12-unit multifamily property located in Poughkeepsie, New York. The property is approximately 17,520 square feet across two buildings, contains a 100% three-bedroom unit mix. The investment presents a compelling value-add opportunity to capture a current 13.7% loss-to-lease and increase the net operating income to a stabilized $180,477. VALUE OPPORTUNITY A significant value-add opportunity exists by capturing the current 13.7% loss-to-lease. This strategy is projected to increase the NOI by 23.8% to a stabilized $180,477 in Year 1. WALKABLE TRANSIT The property boasts a Walk Score of 78, offering pedestrian access to downtown amenities. Located under 1 mile from the Metro-North Train Station, it provides direct commuter rail access to New York City. ROBUST LOCAL DEMAND The property benefits from a highly stable tenant base anchored by major regional institutions. Demand is driven by IBM's 3,000 employees, the 243-bed MidHudson Regional Hospital, and 9,000 students at Vassar and Marist. DESIRABLE 3-BEDROOM MIX All 12 residential units feature strictly 3-bedroom, 1-bathroom floor plans, a composition rarely found in comparable multifamily product. This 100% 3-bedroom mix caters perfectly to the core demographic in a tight market. DOWNTOWN REVITALIZATION The property is within walking distance of over $150 million in active construction projects, enhancing neighborhood appeal. This includes the $147 million Wallace Campus development, adding 187 housing units and 22,000 SF of retail space. The city also secured $9.7M across 10 Downtown Revitalization Initiative projects.