Property Details for 223 State St

Year built

1905

Lot size

0.17 lot acres

Property size

25,159 SF

Property type

Multifamily properties

Description

This exceptional multi-family investment property, located at 223 State Street in the heart of Watertown, NY, presents a rare opportunity. The well-maintained Musselman Building boasts a prime downtown location, just one block from Public Square. This historic building offers a blend of residential and commercial spaces, maximizing income potential. The residential component includes ten one-bedroom apartments, two two-bedroom apartments, and four studio apartments, all recently renovated while retaining original brick details in select areas. A convenient on-site laundry room adds to tenant appeal. Four commercial storefronts, each approximately 1,100 square feet, provide additional income streams. Further enhancing revenue, additional rental storage space is available. The building is equipped with a steam boiler, gas heating, an on-demand hot water heater, and an 80-gallon storage tank. Its strategic location offers easy access to major highways (I-81 and Route 11), Samaritan Medical Center, shopping, restaurants, and public parking directly across the street. Nearby attractions include the Black River's rafting destination, Watertown Zoo, and the state office building. The property also benefits from its proximity to Fort Drum (15 minutes), the Thousand Islands region (30 minutes), and the Canadian border (approximately 30 minutes). With 25,159 square feet on a 0.17-acre lot, this property offers significant income potential and a strong return on investment. The building's historic charm combined with modern updates makes it a truly unique and desirable property. This is a prime opportunity to acquire a substantial income-generating asset in a thriving downtown location. The asking price is $1,200,000.

Location Insight

City

Watertown

County

Jefferson

State

New York

Longitude

-75.9074

Latitude

43.9743