9 River Street, Harristown NY 12983

Pending

$825,000

9 River Street, Harristown, NY 12983

bedrooms

bathrooms

square feet

6,811

Acreage

0.27

Open Houses

year built

1880

Full Baths

Half Baths

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Irving Lanes is a rare investment opportunity offering a strong 10.4% cap rate in the desirable Saranac Lake market. This 9-unit property, located downtown with lake-facing views, offers strong tenant appeal and long-term appreciation potential. It's a low-maintenance asset ideal for investors seeking high returns. The property has undergone key updates, including a new roof in 2020, updated units, newer boilers, and on-demand water heaters, all reducing future maintenance costs. Saranac Lake benefits from overflow demand from nearby Lake Placid, a renowned Winter Olympics venue, making it attractive for both long-term tenants and short-term visitors. A thriving Airbnb unit, with just three days of vacancy in the past year, highlights its income potential. With agreements in place for long-term tenants to assist in managing the property, it's an ideal choice for remote investors. Proximity to a major hospital boosts demand from professionals like travel nurses, enhancing opportunities for furnished rentals. Irving Lanes is a prime value-add opportunity in a market poised for growth, offering increasing rental demand, forced appreciation, and a lakeside downtown location.

Location
Subdivision	-
County	Franklin
Elementary School	-
Middle School	-
High School	-

Driving directions

Open houses

None scheduled.

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MLS number: S1573870

Listing agent: Stacy Faunce #10301216495

Listing broker: Keller Williams Realty Syracuse (315) 701-6900

Copyright © 2025 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Wednesday, January 15 2025 at 12:17 a.m. EST

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