Multifamily Investment Opportunity Near Lake

9 River Street, Saranac Lake, NY 12983

View on Map

Pending

$1,200,000

COMMERCIAL - Saranac Lake, NY

Property size:

6,811 SF

Lot size:

0.27 Acres

HighLights

9‑unit multifamily property directly across from Lake Flower and Riverside Park
Unit 1 recently renovated
Unit 7 offers 3 beds, 2 baths, a Jacuzzi tub, skylights, wood stove fireplace, custom kitchen, and in‑unit laundry
Units 5 and 7 have private shared balcony access with lake and mountain views
Coin‑operated basement laundry provides additional ancillary income
Public water and public sewer; foundation work completed by the prior owner

We can help!

Listing Contact

Chase Jermano

Pending

$1,200,000

COMMERCIAL - Saranac Lake, NY

Property size:

6,811 SF

Lot size:

0.27 Acres

Added:: May 2, 2026
Days on Market:: 47
Last Refresh:: Jun 17 at 7:06 pm

Property Features for 9 River Street

General Information

Property type: Commercial Sale
Property subtype: Other
Zoning: Commercial
Parking features: Paved or Surfaced
Interior features: Apartment, Beamed Ceilings, Coffered Ceiling(s), High Ceilings, Kitchen Island, Recessed Lighting
Exterior features: Balcony
Fencing: Privacy
Standard status: Pending
APN: 447.77-8-16
Size: 6,811 SF
Lot size: 0.27 Acres

Taxes and HOA fees

Tax Annual Amount: 11865

Utilities

Sewer type: Public Sewer
Heating system: Baseboard, Propane (Heating), Oil
Water source: Public

Building Details

Year built: 1880
Flooring type: Tile, Hardwood, Vinyl
Building materials: Brick, Vinyl Siding
Roof type: Metal, Asphalt

We can help!

Listing Contact

Chase Jermano

Listing agent Chase Jermano

Listing office Tina Leonard Real Estate, LLC 2577 Main Street, Lake Placid, NY

Listing date May 2, 2026

MLS# 207102

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.

HighLights

9‑unit multifamily property directly across from Lake Flower and Riverside Park
Unit 1 recently renovated
Unit 7 offers 3 beds, 2 baths, a Jacuzzi tub, skylights, wood stove fireplace, custom kitchen, and in‑unit laundry
Units 5 and 7 have private shared balcony access with lake and mountain views
Coin‑operated basement laundry provides additional ancillary income
Public water and public sewer; foundation work completed by the prior owner

Overview

This 9-unit multifamily property is situated directly across from Lake Flower and Riverside Park. The property delivers immediate cash flow with significant upside. The current gross income is $11,650 per month, with rents running below market value. Unit 1 was recently renovated, establishing a proven value-add template for the portfolio. Units 5 and 7 offer private shared balcony access with lake and mountain views. Unit 7, the owner's suite, features 3 beds, 2 baths, a Jacuzzi tub, skylights, a wood stove fireplace, a custom kitchen, and in-unit laundry. Most tenants cover their own utilities. Coin-operated basement laundry generates additional ancillary income. An on-site property manager resides in the building at reduced rent. Foundation work was completed by the prior owner. Riverside Park hosts free live music and a weekly farmers market during the warmer months. The property is located in Saranac Lake, NY, in Franklin County. The lot size is 0.27 acres, and the property size is 6811 square feet. The zoning is commercial. The property is intended for use as an apartment building, multifamily property, or residential income property.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Saranac Lake
County: Franklin
State: New York
Longitude: -74.131152
Latitude: 44.32525

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For sale
Apartment buildings
NY
Saranac Lake
12983
9 River Street

What type of property is this?

Apartment building - Nine-unit multifamily property with immediate cash flow and upside potential.

Where is this apartment building located?

The property is located at 9 River Street Saranac Lake, NY.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 9‑unit multifamily property directly across from Lake Flower and Riverside Park; Unit 1 recently renovated; Unit 7 offers 3 beds, 2 baths, a Jacuzzi tub, skylights, wood stove fireplace, custom kitchen, and in‑unit laundry

9 River Street, Saranac Lake, NY 12983

COMMERCIAL - Saranac Lake, NY

Property Features for 9 River Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Colonial Revival Multifamily Building

Colonial Revival Multifamily Building

Historic Mixed-Use Saranac Lake Property

Saranac Lake Mixed-Use Gem

Mixed-Use Retail and Apartment Building

Saranac Lake Income-Producing Triplex

Saranac Lake Mixed-Use Opportunity

Adirondack Golf and Country Club

Saranac Lake Multi-Unit Investment

Saranac Lake Mixed-Use Investment

Mixed-Use Commercial Building with Elevator

Renovated Triplex in Saranac Lake

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