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Active
1189 State Route 52 Fallsburg, NY 12759
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 982120
Rental Info No
Year Built 1940
Annual Tax Amount $18,763
Property Sub-Type Multi Family
Source onekey2
Property Description
Commercial Investment Opportunity that presents a high performing, income producing multi-structure asset with strong in place cash flow and multiple avenues for value creation, consisting of three separate buildings totaling approximately 4,500 square feet across seven residential units plus a 1,000 square foot garage, all situated on approximately 0.98 acres with an additional separate 0.51 acre parcel offering potential for future development, making this a rare opportunity that combines immediate income with long term upside. The property currently generates $117,500 annually, or approximately $9,791 per month, with estimated operating expenses of $30,000 per year resulting in a net operating income of approximately $87,500 before vacancy and approximately $81,625 with a conservative 5 percent vacancy factor, supporting a cap rate in the 7.4 percent to 7.95 percent range with further upside available through rent optimization and expansion. Income is diversified across all three structures, with Building 1 producing $51,000 annually including a projected $18,000 from the garage, Building 2 generating $30,800 annually, and Building 3 contributing $35,700 annually, creating multiple stabilized income streams within a single acquisition. A significant value add opportunity exists in the rear structure where the second floor includes approximately 1,500 square feet of unfinished space with lake views of Loch Sheldrake, providing a blank slate for additional units or premium rental space that can materially increase overall income and property value. The property is serviced by town water and septic and features oil heat, gas stoves, and electric included in rents, while recent improvements including plumbing upgrades, heating updates, electrical work, driveway blacktop, and tree removal help reduce near term capital expenditure concerns. Positioned in a growing rental market with strong demand drivers, this asset offers investors a unique combination of stabilized cash flow, expansion potential, additional land value, and long term appreciation, making it an ideal acquisition for those seeking both immediate returns and scalable upside in a single property.
Location
State NY
County Sullivan County
Interior
Heating Baseboard
Cooling None
Fireplace No
Exterior
Parking Features Attached
Utilities Available Cable Connected, Electricity Available
View Lake
Total Parking Spaces 2
Building
Sewer Public Sewer
Water Public
Structure Type Frame
Schools
Elementary Schools Benjamin Cosor Elementary School
Middle Schools Fallsburg Junior-Senior High School
High Schools Fallsburg
School District Fallsburg
Others
Special Listing Condition None
Listed by eXp Realty • Marie Mascari
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