Turnkey Student Housing
5058 S Catherine Street Plattsburgh, NY 12901
5058 S Catherine Street, Plattsburgh, NY, 12901
$355,000
Pending
For Sale
$355,000
Pending
COMMERCIAL - Plattsburgh, NY
Property Size2,856 SF
Lot Size0.17 Acres
Days on Market51
Property Features for 5058 S Catherine Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Off Street, Parking Lot
- Interior features
- Apartment, High Speed Internet
- Basement
- Full, Unfinished
- Appliances
- Electric Range, Electric Water Heater, Refrigerator
- Standard status
- Pending
- APN
- 221.7-2-22
- Size
- 2,856 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Annual Amount
- 10394
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1999
- Floors in Building
- 2
- Building materials
- Wood Siding
- Roof type
- Flat, Membrane
Listing agency
Century 21 The One
(518) 563-7350
Listed by
Patrick Holcombe
(518) 593-1111
Added: Jun 1 Updated: Jun 26 at 1:59PM Checked: Jul 21 at 1:06PM
MLS# 207440
Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale student housing quadplex is configured as a four-apartment building totaling 10 bedrooms. The property is described as being in excellent condition and presented as turnkey, with kitchens, bathrooms, plumbing, and electrical all remodeled. Recent capital improvements include new hot water tanks installed in 2024 and a new roof installed in 2022.
Ownership information and operating details are included in the remarks. The building is currently rented to students, and the seller indicates that some leases are in place for the 2026–2027 period. Owners also take care of lawn and snow services. The listing notes gross income of $25,000–$26,000 and potential gross income of $60,000, with a 48-hour notice required for showings.
For buyers seeking a residential income property, this asset offers a fully renovated unit mix designed for student occupancy, supported by documented mechanical and building-envelope upgrades. The current in-place student tenancy and stated lease coverage for the coming season may be relevant for an operator planning continuity of occupancy. Showings are scheduled with advance notice, and the property is being marketed as ready for immediate management and leasing.
Ownership information and operating details are included in the remarks. The building is currently rented to students, and the seller indicates that some leases are in place for the 2026–2027 period. Owners also take care of lawn and snow services. The listing notes gross income of $25,000–$26,000 and potential gross income of $60,000, with a 48-hour notice required for showings.
For buyers seeking a residential income property, this asset offers a fully renovated unit mix designed for student occupancy, supported by documented mechanical and building-envelope upgrades. The current in-place student tenancy and stated lease coverage for the coming season may be relevant for an operator planning continuity of occupancy. Showings are scheduled with advance notice, and the property is being marketed as ready for immediate management and leasing.
Key Highlights
- 4‑apartment building rented to students with 10 total bedrooms
- New hot water (HW) tanks in 2024
- New flat roof installed in 2022
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.7k | $13.20 |
| − Vacancy | −$2.9k | −$1.00 |
| EGI | $34.8k | $12.20 |
| − OpEx | −$10.5k | −$3.66 |
| NOI | $24.4k | $8.54 |
2,856 SF · lease $13.20/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$348.3K
$304.8K – $406.4K
NOI $24,384 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$309.7K
$271.0K – $361.3K
NOI $21,677 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$787.3K
$688.9K – $918.5K
NOI $55,109 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained four-unit student rental building with recent roof and mechanical upgrades.
Where is this quadplex located?
The property is located at 5058 S Catherine Street Plattsburgh, NY.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 4‑apartment building rented to students with 10 total bedrooms; New hot water (HW) tanks in 2024; New flat roof installed in 2022
