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4 Lake Street, Richfield Springs, NY 13439

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For Sale

$259,000

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APR for 30 years

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  • Multi-Family (2-4 Units)
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4 Lake Street, Richfield Springs, NY Mixed-Use Investment Property - Close Laundromat to Cooperstown Asking Price: $259,900 Building Size: 3,640 sq ft total Laundromat Area: Approx. 1,500 sq ft Major New Equipment Investment $50,000+ invested in two brand-new 30-lb Speed Queen washers 5 New Speed Queen top-load washers 7 Continental ExpressWash 22-lb machines 10 commercial dryers Vending machine + 2 change machines Why This Property Wins Closest laundromat to Cooperstown Serves 300,000+ annual Hall of Fame & tournament visitors High demand from traveling baseball families & teams Strong Airbnb/VRBO market: 400+ rentals within 15 miles Two rental units provide stable recurring income New equipment reduces maintenance and boosts reliability Value-Add Opportunity Add wash-and-fold service Add commercial linen accounts for Airbnbs and rentals Create Google Business listing (currently not listed) Increase machine count in 500-700 sq ft expansion space Improve signage & curb appeal Raise rents to market rate Laundromat Income Approx. $30,000/year with no marketing, no wash & fold, and minimal visibility. Residential Income 3BR Apartment: $1,000/mo Studio Apartment: $750/mo Total Residential Income: $21,000/year Tenant-Paid Utilities Tenants pay: heat, electric, and hot water (if this needs adjusting, tell me and I'll update). Financial Summary Gross Income: ~$51,000/year Estimated Expenses: ~$20,000/year NOI: ~$31,000/year Cap Rate: ~11.9% Highlights Closest laundromat to Cooperstown, high tourism demand, major new equipment, strong rental base, and large expansion area. Exceptional value-add opportunity with multiple income streams and high visibility.
MLS# 11605403

Courtesy Of COOPERSTOWN REALTY LLC

CooperstownRealty@gmail.com

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.