1189 State Route 52, Fallsburg, NY 12759

• 4,500 sqft

Property 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 plus a 1,000 square foot garage, 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 before vacancy and approximately $81,625 with a conservative 5 percent vacancy factor, supporting a cap rate in the 7.4 percent to 7.95 percent range with further upside available through rent optimization and expansion. Income is diversified across all three structures, with Building 1 producing $51,000 annually including a projected $18,000 from the garage, Building 2 generating $30,800 annually, and Building 3 contributing $35,700 annually, 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.

Listing Status:

Active

Data Last Updated:

May 11, 2026 at 6:20PM

Listing Office:

eXp Realty : 888-276-0630

MLS ID:

982120

Interior

• A/C: None
• Heating: Baseboard

Exterior

• Parking: AttachedParking spaces: 2

Location

• Road/Access: County Road
• Originating MLS: onekey2
• School District: Fallsburg
• County: Sullivan County

Lot

• Zoning: 482889: 17.-1-36
• View: Lake

Utilities

• Utilities: Cable ConnectedElectricity Available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2