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    6 Lake St Richfield, NY 13439

    For Sale
    $120,000

    Five income-producing apartments with strong rental history and upside potential.

    Lot size:
    0.07 Acres

    Property Features for 6 Lake St

    General Information

    Lot size
    0.07 Acres

    Building Details

    Year built
    1950

    Source: Coldwell Banker Faith Properties Il Agent Kathryn Moxham

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

    Overview

    Five-Unit Multifamily Investment Opportunity

    This multi-unit property features five income-producing apartments. The building contains three 1-bedroom units and two 2-bedroom units. It has a strong rental history and excellent upside potential. Reliable long-term tenants are in place. The property includes separate utilities and off-street parking. It is located in a convenient location. This property delivers steady cash flow and flexibility. Consistent demand in the area makes this a chance to secure a high-performing asset.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Nail Salon Pharmacy Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Richfield
    County
    Otsego
    State
    New York
    Longitude
    -74.9853959
    Latitude
    42.8528906

    FAQs

    What type of property is this?
    Apartment building - Five income-producing apartments with strong rental history and upside potential.
    Where is this apartment building located?
    The property is located at 6 Lake St Richfield, NY.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: - Five income-producing apartments offer strong rental history and excellent upside potential.; - Mix of unit sizes (three 1-bedroom and two 2-bedroom) caters to a broader tenant base.; - Reliable long-term tenants are already in place.
    (315) 717-4047
    Request Owner's contact information
    6 Lake St Richfield, NY 13439
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    6 Lake St
    Richfield, NY 13439
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6 Lake St Richfield, NY 13439
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