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9 River Street, Saranac Lake, NY 12983

Saranac Lake
Local realty services provided by:CENTURY 21 TheOne
9 River Street,Saranac Lake, NY 12983
$1,200,000
  • - Beds
  • - Baths
  • 6,811 sq. ft.
  • Multi-family
  • Pending
Listed by: chase jermano
Office: tina leonard real estate, llc.
MLS#:207101
Source:NY_ACVMLS

Price summary

  • Price:$1,200,000
  • Price per sq. ft.:$176.19

About this home

Situated directly across from Lake Flower and Riverside Park, this 9-unit multifamily delivers immediate cash flow with significant upside. Current gross income is $11,920/month with rents running below market. The next owner inherits a stabilized asset and a clear path to forced appreciation. Unit 1 was recently renovated, establishing a proven value-add template for the portfolio. Units 5 and 7 offer private shared balcony access with stunning lake and mountain views. Unit 7, the owner's suite, features 3 beds, 2 baths, a Jacuzzi tub, skylights, wood stove fireplace, custom kitchen, and in-unit laundry. Most tenants cover their own utilities, keeping operating expenses lean and boosting net returns. Coin-operated basement laundry generates additional ancillary income. An on-site property manager resides in the building at reduced rent. Extensive foundation work was completed by the prior owner, reducing near-term capital risk. Riverside Park steps from the front door hosts...

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Home facts

  • Year built:1880
  • Listing ID #:207101
  • Added:89 day(s) ago
  • Updated:July 29, 2026 at 08:34 AM

Rooms and interior

  • Living area:6,811 sq. ft.

Structure and exterior

  • Year built:1880
  • Building area:6,811 sq. ft.
  • Lot area:0.27 Acres

Finances and disclosures

  • Price:$1,200,000
  • Price per sq. ft.:$176.19
  • Tax amount:$11,865

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