Triplex with Lake
For Sale
$379,900
74 Amherst St, Lake George, NY 12845
Three separate apartments are zoned for short-term rentals and suited to seasonal or year-round occupancy.
Property Size2,256 SF
Price / SF$168.40
Days on Market47
Property Features for 74 Amherst St
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
in need of updating
Additional Details
Multifamily Units
3
Amenities
partially fenced yard
shed
Building Details
Year Built
1900
Listing Agency:
Kw Platform
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Sep 6
Changed: Oct 21
Last Checked: Oct 20 at 8:06PM
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 Kw Platform
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Investment Insights
Based on property information with market context.
This 2,256-square-foot triplex, built in 1900, contains three separate apartments and offers a multi-unit layout for renovation and repositioning. The property requires updating and includes a large partially fenced yard, shed, and views toward Lake George. Short-term-rental zoning supports seasonal or year-round use.
Located at 74 Amherst St in Lake George, the property is near Canada Street, local shops, restaurants, beaches, and area attractions. It also borders town-owned land, adding open space and separation along the property edge. The combination of three apartments, outdoor space, and a destination-oriented setting provides a clear foundation for a future multi-unit rental or retreat property.
Located at 74 Amherst St in Lake George, the property is near Canada Street, local shops, restaurants, beaches, and area attractions. It also borders town-owned land, adding open space and separation along the property edge. The combination of three apartments, outdoor space, and a destination-oriented setting provides a clear foundation for a future multi-unit rental or retreat property.
Key Highlights
- Three separate apartments in a 2,256‑square‑foot triplex
- Built in 1900 and in need of updating
- Zoned for short‑term rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,620
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,400
$412.4K
Cap Rate 7%
$294,571
$294.6K
Cap Rate 9%
$229,111
$229.1K
Market Conditions
NOI Build-Up for 2,256 SF
Gross rent
$31.7K $14.04/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$29.5K $13.06/SF
− OpEx
−$8.8K −$3.92/SF
NOI
$20.6K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,400
Cap Rate 7%
$294,571
Cap Rate 9%
$229,111
Alternative Uses
Best Use
Multifamily LT 5
$294.6K
$257.8K – $343.7K
NOI $20,620 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$268.8K
$235.2K – $313.6K
NOI $18,813 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$675.3K
$590.9K – $787.8K
NOI $47,268 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
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Business Placement
Demographics for 12845, NY
4,873
Population
3,441
Households
1.4
Avg Household Size
52
Median Age
37%
College-Educated
94%
High-School Grad
45.0 sq mi
ZIP Area
108
Density / Sq Mi
$95,583
Median Household Income
$50,000
Median Earnings
$1,064
Median Rent
$371,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments are zoned for short-term rentals and suited to seasonal or year-round occupancy.
Where is this triplex located?
The property is located at 74 Amherst St Lake George, NY.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Three separate apartments in a 2,256‑square‑foot triplex; Built in 1900 and in need of updating; Zoned for short‑term rentals
