USANYSaranac Lake9 River St
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$1,200,000

For Sale

16 hours ago

9 River St, Saranac Lake, NY

Condo

MLS® 207101

0 Bed

0 Bath

--

4 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage 
HOA Fees 
Taxes $11,865
Days Active 0
Approx. Age 1880
MLS® Number 207101

Property Address: 9 River St, Saranac Lake, NY, 12983-1854

Average square foot calculated using Size range provided by listing agent.

Description

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, 550/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 free live music and a weekly farmers market during the warmer months adding genuine lifestyle value that supports tenant retention and attracts quality renters. Four-season tourism demand, protected land supply, a tight rental market, and a high cap rate make this a compelling long-term hold.
MLS® Number207101
Locker
Ensuite Laundry
Balcony
Furnished
Laundry LevelLower
Exposure
Exterior
Garage
Approx. Age1880
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 2, 2026List Date
$1,200,000List Price
  • Commute

Commute

Starting Address
Destination Address
9 River St, Saranac Lake, NY

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