1275 Pine St APT 1, Saranac Lake, NY 12983

Profitable 3-unit. 1st floor- 2 bedroom $750 2nd floor- 2 bedroom $750 3rd floor- 1 bedroom $500 Annual rental income: $24,000 Annual expenses: $10,597 Annual net income: $13,403 Expenses include: heating, propane, lawn care, general maintenance, property and school taxes, water and sewer, trash removal, common electric, insurance. Newly installed GE GeoSpring hybrid hot water heater. (Turn the boiler off during non-heating months). 3 private parking spaces. This property is an equity stepping stone with reliable cash flow. Saranac Lake is a booming tourist destination located only 9 miles from the Olympic Village of Lake Placid. Located on historic Helen Hill, this property is listed on Saranac Lake's Historic Registry. From the 1940's it operated as the Cure Cottage known as BENSON COTTAGE. The history is in the architecture, which is highlighted by the wrap around "cure" porches of the era. This is the perfect property for a young entrepreneur or the savvy investor looking to get in on the ground floor of Saranac Lake's appreciating multi-family market. There is plenty of surrounding industry to support your quality tenant search. North Country Community College, Paul Smith's College, Adirondack Medical Center, restaurants, hotels, and boutique shops, just to mention a few. The property is a scenic 5 minute walk to Mount Baker (hiking), Lake Flower (25 miles of boating), Downtown Saranac Lake ( shopping and dining). Call Jacob 607-742-5747