109 Academy St Malone, NY 12953

Property Details for 109 Academy St

Year built

1900

Property type

Commercial real estate

APN

112.40-4-20

Description

Exceptional investment opportunity in Malone, NY, presents a well-maintained three-unit mixed-use property situated at 109 Academy Street. This 1900-built, two-story building boasts a desirable location, just steps from the main street, offering easy access to local amenities including restaurants, shopping, and a public park. Currently generating strong income with three occupied units – two one-bedroom apartments renting for $650 per month each and one two-bedroom apartment renting for $850 per month – this property offers a compelling 10.24% cap rate at an asking price of $119,999. Recent renovations include a new roof, vinyl windows, updated kitchens and bathrooms, and a 200-amp electrical service. Additional features include a wrap-around porch, shared laundry facilities, a detached garage, and ample parking for four vehicles. The property sits on a 0.27-square-foot lot and offers significant potential for expansion. The unfinished attic and detached garage present opportunities to add two more units, further increasing the property's income potential. This turnkey investment is ideal for those seeking immediate cash flow and long-term growth. The property's strong rental history and prime location make it a truly exceptional investment opportunity.