406 Dewitt Avenue, Elmira City, NY 14901

• 4 beds |
• 4 baths |
• 2,452 sqft

Property Description

Potential for $3,800 per month gross rents! Excellent opportunity to acquire a well-maintained mixed-use 4-unit property in Elmira featuring three residential apartments and one commercial space. The building has been recently updated with modern flooring, refreshed interiors, and overall well-maintained units, making it ideal for both seasoned investors and owner-operators. The residential portion consists of one 1-bedroom apartment renting for $900/month (utilities included except garbage), one 2-bedroom/1-bath apartment renting for $1,200/month (utilities included except garbage), and one 2-bedroom/1-bath apartment renting for $900/month plus gas and garbage. One unit features a beautifully tiled shower and updated bathroom finishes. All residential tenants are currently on month-to-month leases, providing flexibility for future rent adjustments or owner occupancy. The commercial space, previously rented for $800/month (utilities included except garbage), is currently vacant and used for storage, offering immediate upside potential through lease-up. Once the commercial space is re-rented, the projected gross rent roll would be just under $4,000 per month, with additional room to increase rents over time given the updated condition of the units and strong demand for quality rentals in the area. This property offers a strong mix of residential stability and commercial income potential, with updated interiors and minimal deferred maintenance. Ideal opportunity to increase cash flow through lease-up of the commercial space and optimization of rents over time. Don’t miss this chance to add a versatile mixed-use asset to your portfolio in a steadily improving rental market. Building being sold as-is

Listing Status:

Active

Date Added:

February 23, 2026

Data Last Updated:

April 4, 2026 at 8:18PM

Listing Office:

Howard Hanna Horseheads : (607) 739-1444

Listing Agent:

Nicholas Magera : (607) 426-4541

MLS ID:

R1663513

Interior

• Appliances: Gas Water Heater
• Basement: Full
• Flooring: Luxury Vinyl
• Heating: GasForced AirWall Furnace
• Fireplace: Fireplaces: 0

Exterior

• Parking: Two or More Spaces

Construction

• General: Composite Siding2

Location

• Road/Access: Main Thoroughfare
• Originating MLS: NYS_EC
• School District: Elmira
• County: Chemung

Lot

• Zoning: 070400-089-016-0001-032-000-0000

Utilities

• Utilities: Sewer ConnectedWater Connected
• Water: ConnectedPublic
• Sewer: Connected

Financial

• Source: NYS_EC