1057 State Hwy Saratoga Springs, NY 12866
- Residential income homes
- 0.26 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 1057 State Hwy
- Year built
- 1953
- Lot size
- 0.26 lot acres
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional multifamily investment opportunity in Saratoga Springs, New York presents a compelling prospect for discerning investors. Located at 1057 State Hwy 9N, this property boasts a desirable location just a short distance from the vibrant downtown area, offering easy access to Saratoga Race Course, the casino, state parks, lakes, and surrounding mountains. The property comprises a three-story building constructed in 1953, situated on a 0.26-acre lot. It features two units, each valued at $167,500, resulting in a total asking price of $335,000. The property enjoys a strong 10.81% capitalization rate, indicating significant potential for return on investment. Long-term tenants are currently in place, providing immediate cash flow. Ample off-street parking is available for residents and guests. The property is well-maintained and presents an ideal opportunity for investors seeking a cash-flowing asset or those interested in owner-occupancy with rental income from the additional unit. The property's convenient location and strong tenant history make it a truly attractive investment. This is a rare opportunity to acquire a well-positioned multifamily property in a thriving New York market. The property is located in Saratoga County, New York, with a zip code of 12866.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Saratoga Springs
- County
- Saratoga
- State
- New York
- Longitude
- -73.8379
- Latitude
- 43.0977
