29,086 SqFt
29,086 SqFt
Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 29,086 sqft
Price per Sqft $53
MLS Listing ID R1706217
Construction Status Existing
HOA Y/N No
Year Built 1977
Annual Tax Amount $18,351
Lot Size 17.580 Acres
Acres 17.58
Lot Dimensions 1231X1355
Property Sub-Type Apartment
Property Description
Currently consisting of 8 buildings and 43 total rental units, including 16 residential units with 14 apartments and 2 single-family homes. The residential mix includes two 3-bedroom apartments, nine 2-bedroom apartments, three 1-bedroom apartments, a 2-bedroom ranch, and a 3-4 bedroom log home. Great value add by raising rents to market rate.
The property also includes numerous storage and commercial spaces, including small and large storage units, open storage, garage spaces, two commercial business spaces, a 2-bay company shop with service pit, standalone storage, and a pay laundry. An efficiency apartment is currently utilized as a company office.
Significant upside exists with potential to build approximately 40+ additional storage units. The expansive acreage also offers potential for an already approved solar farm. All apartments have electric heat, making this property particularly well-suited for exploring solar as a way to potentially offset electric costs and provide long-term value for both ownership and tenants.
Included is a complete turnkey shop with tools and equipment, a 60” Z-mower, and extensive onsite inventory including lumber, roofing, flooring, countertops, sinks, cabinets, appliances, and more.
A truly unique opportunity with multiple income streams, substantial acreage, existing rental operations, and significant room for expansion. Properties offering this combination of residential, commercial, storage, and development potential are rarely available so don't miss out on this one of a kind property.
Location
State NY
County Chemung
Area Elmira Town-073089
Zoning AR
Interior
Heating Gas, Baseboard, Forced Air
Inclusions Land and Building
Fireplace No
Exterior
Roof Type Metal,Shingle
Total Parking Spaces 30
Building
Lot Description Rectangular, Rectangular Lot
Story 2
Sewer Septic Tank
Level or Stories Two
Construction Status Existing
Schools
School District Elmira
Others
Tax ID 073089-110-000-0001-030-002-0000
Acceptable Financing Assumable, Cash, Lender Approval, Owner Will Carry
Listing Terms Assumable, Cash, Lender Approval, Owner Will Carry
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS