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54 Academy Street

Poughkeepsie, NY 12601
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Acres0.14

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Academy Street Development Opportunity Multi-Family + 2 Vacant Parcels | Value-Add + Redevelopment Potential Located 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 possibil ities. 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 development Retail, office, and service-based uses Potential 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 station Strong rental demand in the area Flexible zoning supporting multiple development strategies Opportunity to create scale with adjacent parcels This 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.

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Detail Ic Property Details

Property Type : Land

Price : $700,000

AD Id : 76914897

MLS Id : 974793

Lot Size : 0.14 Acre(Lot)

County : Dutchess

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Feature Features

  • Lot Information

    Lot Size Acres: 0.14 Lot Size Square Feet: 6098

  • Listing Price Information

    Listing Price: $700000

  • Tax Information

    Parcel Number: 131300-6161-21-080981-0000 Annual Tax: $1320.52

  • School Information

    Elementary School: Gov George Clinton School
    Junior High School: Poughkeepsie Middle School
    Senior High School: Poughkeepsie High School
  • Location Information

    Direction: Route 9 to Academy St Route 44/55 to Cannon St to Academy WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
Harley Tucker Hill, Poughkeepsie, NY, 12601 $109,000 -- -- -- 5.32 Acres(Lot)
24 Beck Road, Poughkeepsie, NY, 12601 $100,000 -- -- -- 2.14 Acres(Lot)
24 Beck Road, Poughkeepsie, NY, 12601 $100,000 -- -- -- 2.14 Acres(Lot)
36 Smith Street, Poughkeepsie, NY, 12601 $37,000 -- -- -- 0.10 Acre(Lot)
38 Hoffman Street, Poughkeepsie, NY, 12601 $92,000 -- -- -- 0.13 Acre(Lot)
32 Hurlihe St #C, Poughkeepsie, NY, 12601 $180,000 1 1 900 Acres (Lot)--

The data relating to real estate for sale on this website comes in part from the Internet Data exchange of OneKey MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2026 OneKey MLS. All Rights Reserved

ByOwner last updated this listing 07/18/2026 @ 04:51

MLS: 974793 LISTED BY: Ginalea Healy, K. Fortuna Realty, Inc. 845-632-3492 SOURCE: OneKey MLS

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