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586 Old Route 23, 
Cairo, NY 12413

$2,400,000


26

Beds


Bath


12,522

Sq Ft


Multi-Family

Active

Listed by

Zev Eisenberg

Sheneur Menaker

Hudson Modern

845-579-8050

Last updated:

May 26, 2026, 06:59 PM

MLS#

20260761

Source:

NY MLSUC

About This Home

586 Old Route 23

Turn-key scale, operational efficiency, with both short and long-term upside. Set on 4.7 acres, with 5 detached buildings: a main building with 9 various-sized units, a single-unit cottage, and two motel-style outbuildings -- one with 8 units and one with 2 units, all individually metered. There is space for a 21st, 3 bedroom apartment, an empty garage that can be leased commercially, and the parcel offers even more long term development potential with additional units, self-storage and more, subject to municipal approvals. The property has undergone a comprehensive renovation program across the majority of units -- ranging from fresh paint and new flooring to full gut renovations including new kitchens, bathrooms, electrical, plumbing, sheetrock, heating, and appliances. Infrastructure improvements include a complete water system overhaul, a new septic tank installation, repair of three existing septic tanks, and a new roof on two units. The result is a stabilized, well-capitalized asset with deferred maintenance addressed and a clean operating baseline going forward. Nearby communities including Hudson, Leeds, Catskill, and Windham are seeing renewed investment and development activity -- from boutique hospitality to mixed-use revitalization projects -- driving economic activity and long-term rental stability across Greene County. Located directly off Route 23, the property serves a tenant base spanning a range of incomes and occupations. It delivers dignified, well-maintained housing that tenants stay in, not cycle through -- making it especially well-positioned in a region where demand for workforce housing continues to outpace supply. RECENT IMPROVEMENTS New roof on main building and multiple units Parking lot graded and stoned Exteriors painted 1 new septic tank 3 septic tanks repaired Landscaping UNIT IMPROVEMENTS Unit 1 -- No renovation; tenant has lived there approximately 10 years Unit 2 -- Full renovation: new kitchen, flooring, bathroom, appliances Unit 3 -- New paint, new bathroom Unit 4 -- New paint Unit 5 -- New paint Unit 6 -- New paint Unit 7 -- Major renovation: new bathroom, flooring, doors, lighting, kitchen, appliances Unit 8 -- New paint Unit 9 -- New paint Unit 10 -- New paint Units 11-18 -- Full renovation: electrical, sheetrock, heating, bathrooms, flooring, plumbing, lighting Unit 19 -- New paint, new kitchen, new flooring Unit 20 -- New flooring, new kitchen, new paint

Home Facts

Multi-Family

26 Bedrooms

Built in 1960

Price Summary

2,400,000

$191 per Sq. Ft.

MLS #:

20260761

Last Updated:

May 26, 2026, 06:59 PM

Added:

3 month(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

26

Interior

Living Area:

12,522 Sq. Ft.


Structure

Structure

Building Area:

12,522 Sq. Ft.

Year Built:

1960


Lot

Lot Size (Sq. Ft):

204,732


Finances & Disclosures

Finances

Price:

$2,400,000

Price per Sq. Ft:

$191 per Sq. Ft.

Source:NY MLSUC
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If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.