403 Walnut Street
Property Description
Turnkey 3-Unit Investment Property with Strong Updates, Parking, Garage & Expansion Potential Excellent opportunity to own a well-maintained and substantially updated 3-unit multifamily property in Elmira, NY. This income-producing asset offers strong rental history, major capital improvements, and additional upside potential with ample parking, garage space, and room for future development. The property currently generates $2,850/month in rental income with no delinquency issues, providing immediate cash flow for an investor or owner-operator. Major improvements include: - New roof installed July 2024 - Most windows replaced - All work fully permitted - Significant electrical and plumbing upgrades - Two apartments completely renovated down to the studs One of the standout features is a massive nearly 1,000 square foot efficiency apartment converted from a former yoga studio, offering an open-concept layout with unique character and flexibility. Additional highlights include: - Large parking lot with abundant off-street parking - Detached garage - Coin-operated laundry room for additional income - Two units with separated utilities - Space and potential for future expansion or additional development - Strong tenant payment history This property combines stability, modernized systems, and future upside - ideal for investors looking for a solid multifamily asset with value-add potential already built into the site. Whether you are expanding your portfolio or looking for a property with long-term appreciation potential, 403 Walnut Street offers a compelling mix of cash flow, updates, and opportunity.
Broker Details
Keller Williams Realty Southern Tier & Finger Lakes (607) 795-2900
MLS ID: ECahughes State License Number: 10401336330
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $239,000 |
| No. of Units: | 3 |
| Year Built: | 1952 |
| Lot Size: | 3,052.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $79,667 |
| Property Website | Click Here |
| Number of Bedrooms: | 3 |
| Number of Bathrooms: | 3 |
ID: 3yd-BNARNY-R1679872
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