$6,500,000

72 Union Avenue, Saratoga Springs, NY 12866

  • 22 beds |
  • 22 baths |
  • 16,562 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1930
  • Property Lot Size Icon1.01acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $392/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Rare opportunity to acquire one of Saratoga Springs' most iconic investment properties with significant value-add potential. In addition to generating strong income from 15 fully occupied apartments, the property may offer condominium conversion potential as well as the opportunity, with town approvals, to develop an additional luxury condo/townhome building of approximately 4,000-6,000 square feet per floor. Pro forma financial information is available upon request for qualified buyers. This stunning Old World brick Victorian mansion has been thoughtfully transformed into 15 exceptional apartments while preserving the timeless character and architectural beauty that make it truly unforgettable. Just 1 block from the Saratoga Race Course and 3 blocks from downtown, this property is a private oasis. A sprawling wraparound porch welcomes visitors. Meandering pathways wind through enchanting perennial gardens, private sitting areas, and a picturesque koi pond frequented by ducks. Residents enjoy raised garden beds for vegetables, herbs, and flowers, creating a rare sense of community and tranquility. Outdoor amenities include patios with pergolas, a rooftop deck, and a charming carriage house. The apartments are every bit as impressive as the grounds. Each residence offers unique charm and character blended with tasteful updates. Spacious floor plans, classic architectural details, and pride of ownership are evident throughout. All 15 units are occupied by long-term tenants in excellent standing, providing stable income from day one. With 35+ off-street parking spaces, residents enjoy a convenience rarely found downtown, while world-class dining, shopping, entertainment, and recreation remain just steps away. Offering a rare combination of historic elegance, exceptional income, an irreplaceable location, and extraordinary future development potential, this is more than an investment property--it's one of Saratoga Springs' most remarkable real estate offerings.

Listing Status:
Active
Date Added:
June 4, 2026
Data Last Updated:
July 5, 2026 at 8:39PM
Listing Office:
Coldwell Banker Prime Properties : 518-587-3400
Listing Agent:
Lynda J Macdonald : 518-421-2016
MLS ID:
202618874
  • General: Walk-In Closet(s)Ceramic Tile BathHigh Speed InternetPaddle FanBuilt-in FeaturesCrown Molding
  • Basement: Full
  • Flooring: CarpetCeramic TileHardwood
  • Heating: ElectricBaseboardForced AirHot Water
  • Fireplace: GasLiving RoomFireplace
  • General: GardenShed(s)
  • Style: Apartment 4 Plus UnitOther
  • Other Structures: Shed(s)
  • Parking: Off StreetPavedParking spaces: 35
  • Roofing: Asphalt
  • General: BrickStone
  • Originating MLS: Global MLS
  • School District: Saratoga Springs
  • County: Saratoga
  • Zoning: 411501 165.76-1-15
  • Fencing: Wrought Iron
  • Water: Public
  • Sewer: Public Sewer
  • Source: Global MLS

This listing courtesy of Lynda J Macdonald , Coldwell Banker Prime Properties

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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