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Michael Miceli

michael.miceli@westlightrealestate.com +1(315) 591-6101

$ 215,000

Est. payment | -/mo

5 Beds

5,988 SqFt

Save Virtual Tour

$ 215,000

Est. payment | -/mo

Save Virtual Tour

5 Beds

5,988 SqFt

Key Details

Property Type Multi-Family, Commercial

Sub Type Commercial

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 5,988 sqft

Price per Sqft $35

MLS Listing ID S1682928

Bedrooms 5

Construction Status Existing

HOA Y/N No

Year Built 1880

Annual Tax Amount $2,374

Lot Size 0.565 Acres

Acres 0.5646

Lot Dimensions 143X172

Property Sub-Type Commercial

Property Description

Looking to invest in Northern NY? This 5-unit apartment building in the Village of Theresa is a solid income-producing opportunity, conveniently located close to Fort Drum, Watertown, and Alexandria Bay. The building features four 1-bedroom/1-bath apartments and one 2-bedroom/1-bath apartment. All units are currently occupied, with one becoming available in a month or two. At current rents, the property can generate approximately $3,400/month — over $40,800 annually — with tenants responsible for their own electric. The Village of Theresa benefits from municipal power, helping to keep utility costs low for the owner. The seller has invested in extensive updates throughout, including new siding on most of the exterior, new flooring in all units, updated kitchens, new windows and doors in most units, fresh paint throughout, and refreshed bathrooms. Tenants enjoy access to on-site coin-operated laundry and ample parking. The property also includes a detached garage and a storage shed, both in need of work but offering real upside potential. The garage could be restored back into a usable garage, converted into additional rental units, or repurposed for an extra business! An added bonus, the sellers will consider owner financing! Don't miss this cash-flowing North Country investment!

Location

State NY

County Jefferson

Area Theresa-Village-225601

Direction From route 37, driving towards Theresa, take a right at Ostranders Corners towards the village. The property will be a couple miles up the road on the left hand side.

Rooms

Basement Exterior Entry, Walk-Up Access

Interior

Heating Electric, Baseboard

Flooring Hardwood, Laminate, Varies

Fireplace No

Appliance Electric Water Heater

Laundry Coin-operated

Exterior

Exterior Feature Blacktop Driveway

Community Features Laundry Facilities

Utilities Available Sewer Connected, Water Connected

Roof Type Membrane,Rubber

Garage No

Building

Lot Description Rectangular, Rectangular Lot, Residential Lot

Story 2

Sewer Connected

Water Connected, Public

Level or Stories Two

Structure Type Vinyl Siding,Wood Siding

Construction Status Existing

Schools

School District Indian River

Others

Senior Community No

Tax ID 225601-023-072-0001-042-000

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/instaview/syr/S1682928

Listed by Realty by the River, Inc.

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(315) 591-6101

michael.miceli@westlightrealestate.com

19 Mccracken Drive, Oswego, New York, 13126, USA

302 Main ST Theresa, NY 13691