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Damaris Rivera

damaris@rrealtyrochester.com +1(585) 754-3821

$ 850,000

Est. payment | -/mo

22 Beds

22,832 SqFt

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$ 850,000

Est. payment | -/mo

Save

22 Beds

22,832 SqFt

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 22,832 sqft

Price per Sqft $37

MLS Listing ID R1701245

Bedrooms 22

Construction Status Existing

HOA Y/N No

Year Built 1900

Annual Tax Amount $17,975

Lot Size 6.300 Acres

Acres 6.3

Lot Dimensions 614X339

Property Sub-Type Other

Property Description

Unlock exceptional potential and substantial value-added with this unique commercial investment property situated on 6.30 sprawling acres. This expansive compound features two main structures, offering multiple avenues for rehabilitation, development, and massive future rental upside. The centerpiece of the property is the main apartment building, a massive, three-story multi-family structure boasting 22,832 square feet of building space. This building houses a diverse mix of studios, 1-bedroom, 2-bedroom, and 3-bedroom units (with 22 total apartments), alongside a dedicated commercial laundry room currently under a 10-year lease and a small office space with tons of storage. While several units are occupied, 3 apartments are down to the studs providing a blank canvas to renovate, lease at top-tier market rents, and exponentially drive up your Net Operating Income. The full basement also offers bedrock-solid infrastructure and raw waiting/storage space with the distinct potential to build out and rent private tenant storage units for an additional monthly revenue stream. Adjacent to the apartment building sits a standalone, single-family residential house featuring a 3-bedroom, 2-bathroom layout with a full basement. Currently in need of renovation, this asset allows you to finish the build to your exact specifications to create a premium rental asset or an ideal owner-manager's quarters. Positioned on 6.30 acres of beautiful Catskill terrain, this property offers a park-like yard bordered by a scenic stream and nature walk. Bring your vision, tools, and contractor to unlock the full cash-flow potential of the Cold Spring Apartments compound.

Location

State NY

County Delaware

Area Stamford-125289

Rooms

Basement Full

Interior

Heating Oil, Baseboard

Flooring Carpet, Hardwood, Varies, Vinyl

Furnishings Unfurnished

Fireplace No

Appliance Oil Water Heater, See Remarks

Laundry Coin-operated

Exterior

Exterior Feature Gravel Driveway

Community Features Laundry Facilities

Utilities Available Electricity Connected, Sewer Connected, Water Connected

Roof Type Asphalt,Membrane,Rubber

Porch Covered, Porch

Garage No

Building

Lot Description Irregular Lot

Story 3

Sewer Connected

Water Connected, Public

Structure Type Blown-In Insulation,Frame,Vinyl Siding

Construction Status Existing

Schools

School District Stamford

Others

Senior Community No

Tax ID 54.10-5-3.1

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard

Listed by Keller Williams Upstate NY Properties 607-376-2279

Nearby Locations

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Damaris Rivera

Broker License ID: 10491209510

+1(585) 754-3821 | damaris@rrealtyrochester.com

20-24 Main ST Stamford, NY 12167

Damaris Rivera

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby Locations

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20-24 Main ST