For Sale
|
5 + Unit Apartments
|
29613 State Route 12 , Clayton, NY 13624
$399,900
Listing Courtesy of Keller Williams Northern New York
For Sale
|
5 + Unit Apartments
|
29613 State Route 12 , Clayton, NY 13624
$399,900
|
1.5
acres |
|
|
|
4,867
sq ft |
|
|
|
8
apts |
|
|
|
Property Description
Fantastic investment opportunity at highly visible Gunns Corners! This 8-unit apartment building sits prominently at the intersection of NYS Route 12 and NYS Route 180, offering excellent visibility, strong rental appeal, and easy accessibility. Set on a generous 1.50-acre lot, the property features 4,867 square feet of living space with convenient one-story layouts throughout. The unit mix includes five 1-bedroom apartments, two studio units, and one spacious 3-bedroom apartment—providing a well-balanced and versatile rental portfolio. The remodeled 1-bedroom unit is currently vacant and ready for immediate occupancy, with projected rental income of $800–$900/month. This unit has been thoughtfully updated with new flooring, modern countertops, and brand-new kitchen appliances, making it highly attractive to prospective tenants. The property currently generates $5,370/month in rental income from existing tenants, delivering solid in-place cash flow with clear upside potential upon leasing the vacant unit. The actual Net Operating Income (NOI) for 2025 exceeded $51,000, highlighting the property’s strong financial performance. A stable, long-term tenant base enhances reliability, while the large open parking area provides ample off-street parking for residents and guests. With strong financials and value-add potential, this property is an excellent addition to any investment portfolio. Whether you`re expanding your holdings or entering the multi-family market, this asset offers both performance and growth opportunity. Schedule your private showing today!
Property Summary
| Type |
5 + Unit Apartments |
MLS # |
S1672658 |
| Stories |
1 |
Year Built |
1940 (86 years old) |
| Apartments |
8 |
Est. Taxes |
$1,976 |
Features
Interior |
Laundry-Common
6 Bedrooms
Vinyl-Luxury-Some
Oven/Range Gas-Some
Refrigerator
Other - See Remarks
Wood Auxiliary Unit
Basement - None
|
Exterior |
Heating Fuel - Propane
Driveway - Blacktop
|
Other Information |
Lot Dimensions - 327' x 210'
Jefferson County
Thousand Islands School District
Days On Market - 48
|
