Watertown Triplex on Acre Lot

1011 Gotham St, Watertown, NY 13601

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For Sale

$289,500

Well-maintained triplex with spacious units and development potential.

Type:Multi-Family

Property size:

2,595 SF

Lot size:

1.00 Acre

Price / SF:

$111/SF

HighLights

Exceptional investment opportunity in a desirable Watertown neighborhood.
Large one‑acre lot within city limits offers ample outdoor space and development potential.
Two vacant units provide immediate income potential or owner‑occupancy options.
Triplex configuration: two 2‑bedroom units and one 3‑bedroom unit.
Convenient location near downtown, schools, shopping, and parks.
Solid structure with hardwood, vinyl, and carpet flooring.

We can help!

Contact an agent

Aaron Naklick

For Sale

$289,500

Well-maintained triplex with spacious units and development potential.

Type:Multi-Family

Property size:

2,595 SF

Lot size:

1.00 Acre

Price / SF:

$111/SF

Added:: Nov 8, 2025
Days on Market:: 235
Last Refresh:: May 12 at 9:26 pm

Property Features for 1011 Gotham St

General Information

Standard status: Active
Size: 2,595 SF
Lot size: 1.00 Acre
Property subtype: Multi-Family

Building Details

Year Built: 1850

We can help!

Contact an agent

Aaron Naklick

Listing office Berkshire Hathaway HomeServices CNY Realty Watn

Listing date Nov 8, 2025

Source Xome

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices CNY Realty Watn

HighLights

Exceptional investment opportunity in a desirable Watertown neighborhood.
Large one‑acre lot within city limits offers ample outdoor space and development potential.
Two vacant units provide immediate income potential or owner‑occupancy options.
Triplex configuration: two 2‑bedroom units and one 3‑bedroom unit.
Convenient location near downtown, schools, shopping, and parks.
Solid structure with hardwood, vinyl, and carpet flooring.

Overview

Located in Watertown, this triplex on Gotham Street presents an investment opportunity. The property features three units: two 2-bedroom, 1-bath apartments and one 3-bedroom, 1-bath unit, each designed with comfortable layouts and ample natural light. Situated on a one-acre lot within the city limits, the property provides outdoor space suitable for tenant enjoyment, parking expansion, or potential future development. The location offers convenient access to downtown, schools, shopping, and parks. Two of the front units are currently vacant, offering flexibility and immediate income potential. The property has a size of 2595 square feet.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$32.7k	$12.60
− Vacancy	−$2.2k	−$0.84
EGI	$30.5k	$11.76
− OpEx	−$9.2k	−$3.53
NOI	$21.4k	$8.23

2,595 SF · lease $12.60/SF/yr · vacancy 6.65% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$305.2K

$267.1K – $356.1K (±1% cap)

NOI $21,366 @ 7.0% cap · market cap 7.38%

Second Best

Apartment 5plus

$273.1K

$238.9K – $318.6K (±1% cap)

NOI $19,114 @ 7.0% cap · market cap 6.60%

Theoretical Best

Office A

$715.3K

$625.9K – $834.6K (±1% cap)

NOI $50,073 @ 7.0% cap · market cap 17.30%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Location Insight

Map
Local Demand

City: Watertown
County: Jefferson
State: New York
Longitude: -75.9029218
Latitude: 43.9624062

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For sale
Triplexes
NY
Watertown
13601
1011 Gotham St

What type of property is this?

Triplex - Well-maintained triplex with spacious units and development potential.

Where is this triplex located?

The property is located at 1011 Gotham St Watertown, NY.

What is the asking price?

The asking price for this property is $289,500.

What are key features of this property?

This property features: Exceptional investment opportunity in a desirable Watertown neighborhood.; Large one‑acre lot within city limits offers ample outdoor space and development potential.; Two vacant units provide immediate income potential or owner‑occupancy options.