1189 State Route 52,Fallsburg, NY 12759
Fallsburg, NY 12759
Description
Commercial Investment Opportunity that presents a high performing, income producing multi-structure asset with strong in place cash flow and multiple avenues for value creation, consisting of three separate buildings totaling approximately 4,500 square feet across seven residential units, all situated on approximately 0.98 acres with an additional separate 0.51 acre parcel offering potential for future development, making this a rare opportunity that combines immediate income with long term upside. The property currently generates $117,500 annually, or approximately $9,791 per month, with estimated operating expenses of $30,000 per year resulting in a net operating income of approximately $87,500, supporting a cap rate of approximately 10.6 percent with further upside available through rent optimization and expansion. Income is diversified across all three structures, with Building 1 producing $33,000 annually, Building 2 generating $30,800 annually, and Building 3 contributing $35,700 annually, and a deep single car garage for extra storage, creating multiple stabilized income streams within a single acquisition. A significant value add opportunity exists in the rear structure where the second floor includes approximately 1,500 square feet of unfinished space with lake views of Loch Sheldrake, providing a blank slate for additional units or premium rental space that can materially increase overall income and property value. The property is serviced by town water and septic and features oil heat, gas stoves, and electric included in rents, while recent improvements including plumbing upgrades, heating updates, electrical work, driveway blacktop, and tree removal help reduce near term capital expenditure concerns. Positioned in a growing rental market with strong demand drivers, this asset offers investors a unique combination of stabilized cash flow, expansion potential, additional land value, and long term appreciation, making it an ideal acquisition for those seeking both immediate returns and scalable upside in a single property.
Details
| MLS # | 982120 |
|---|---|
| Listing Type | For Sale |
| Style | Multi-Family |
| Sub-Type | Resale |
| Status | Active |
| Year | 1940 |
| Days On Site | 136 |
| Listing Provided By | eXp Realty | Marie Mascari |
Features
| SQ Feet | 4,500 |
|---|---|
| Units | 8 |
| Property View | Lake |
Interior
| Cooling | None |
|---|---|
| Heating | Baseboard |
Exterior
| Construction Materials | Frame |
|---|
Parking
| Parking Features | Attached |
|---|
Utilities
| Utilities | Cable Connected, Electricity Available |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 18763 |
Area Information
| State | NY |
|---|---|
| County | Sullivan County |
| City | Fallsburg |
| Zip Code | 12759 |
| School District | Fallsburg Junior-Senior High Sch |
| Elementary School | Benjamin Cosor Elementary School |
| High School | Fallsburg Junior-Senior High Sch |
| Listing VS Median (in 12759) | |
Price: $825,000 low | high Med: $260,000 sqft: 4,500 low | high Med: 808 $ / sqft: $183 low | high Med: $322 On site: 136 low | high Med: 141 | |
Market Activity 12759
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Learn More About This Property
| State | NY |
|---|---|
| County | Sullivan County |
| City | Fallsburg |
| Zip Code | 12759 |
| School District | Fallsburg Junior-Senior High Sch |
| Elementary School | Benjamin Cosor Elementary School |
| High School | Fallsburg Junior-Senior High Sch |
| Listing VS Median (in 12759) | |
Price: $825,000 low | high Med: $260,000 sqft: 4,500 low | high Med: 808 $ / sqft: $183 low | high Med: $322 On site: 136 low | high Med: 141 | |