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Pending
    • $1,200,000

    9 River St, Saranac Lake, NY 12983

    --beds
    0baths
    6,811sqft
    Loading
    Apartment
    Built in 1880
    -- sqft lot
    $1,115,300 Zestimate®
    $176/sqft
    $-- HOA

    What's special

    Wood stove fireplaceJacuzzi tubPrivate shared balcony accessCustom kitchenIn-unit laundry
    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 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.
    80 days
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    40
    |
    0
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    Zillow last checked:

    Listing updated:

    Listed by:

    Tina Leonard Real Estate, LLC 518-523-3224,

    Chase Jermano

    Source: ACVMLS,MLS#: 207101MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bathrooms: 0
      Heating
      • Baseboard, Oil, Propane
      Cooling
      • None
      Appliances
      • Laundry: In Basement
      Features
      • Apartment, Beamed Ceilings, Coffered Ceiling(s), High Ceilings, Kitchen Island, Recessed Lighting
      • Flooring: Hardwood, Tile, Vinyl
      Interior area
      • Total structure area: 6,811
      • Total interior livable area: 6,811 sqft

      Property

      Parking
      • Total spaces: 4
      • Parking features: Unpaved
      • Uncovered spaces: 4
      Features
      • Exterior features: Balcony
      • Fencing: Privacy
      • Has view: Yes
      • View description: Downtown, Mountain(s), Neighborhood, Park/Greenbelt, Trees/Woods
      • Body of water: Lake Flower
      Lot
      • Size: 0.27 Acres
      • Features: Corner Lot, Level, Many Trees, Views
      • Topography: Level
      Details
      • Parcel number: 447.77816
      • Zoning: Commercial
      • Other equipment: Fuel Tank(s)

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Apartment
      Materials
      • Brick, Vinyl Siding
      • Roof: Asphalt,Metal
      Condition
      • Year built: 1880

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Cable Connected, Electricity Connected, Internet Connected, Sewer Connected, Water Connected, Water Meter Master

      Community & HOA

      Location
      • Region: Saranac Lake

      Financial & listing details

      • Price per square foot: $176/sqft
      • Tax assessed value: $370,000
      • Annual tax amount: $11,865
      • Date on market: 5/2/2026
      • Listing agreement: Exclusive Right To Sell
      • Listing terms: Cash,Conventional
      • Lease term: Short Term Lease
      • Tenant pays: Electricity, Gas, Parking Fee
      • Electric utility on property: Yes
      • Road surface type: Paved

        Estimated market value

        $1,115,300

        $1.06M - $1.17M

        $1,416/mo

        Price history

        DateEventPrice
        6/11/2026Pending sale$1,200,000$176/sqft
        Source: ACVMLS #207101 Report a problem
        5/2/2026Listed for sale$1,200,000+275%$176/sqft
        Source: ACVMLS #207101 Report a problem
        8/24/2020Sold$320,000-8.6%$47/sqft
        Source: Agent Provided Report a problem
        6/9/2020Pending sale$350,000$51/sqft
        Source: Say Real Estate #169026 Report a problem
        3/25/2020Listed for sale$350,000$51/sqft
        Source: Say Real Estate #169026 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Estimated monthly payment$1,822
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.
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        Climate risks

        Neighborhood: 12983

        Getting around

        83 / 100
        Very Walkable
        30 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

        A local agent can set up tours, give advice and negotiate with sellers.

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