79 Franklin Avenue, Saranac Lake, NY 12983

Updated 4-unit multifamily investment property in Saranac Lake, NY, about three blocks from Lake Flower. This quadriplex offers one 2-bedroom, 1-bath apartment and three 1-bedroom, 1-bath apartments. It’s a strong fit for an investor building a rental portfolio or for a buyer who wants to live in one unit and rent out the other three.

Each apartment has its own 100-amp electrical service on a separate meter. Electrical has been updated throughout, and most plumbing has been updated to PEX. The building also offers a new roof (2021), fresh paint throughout, an electric heat pump water heater, electric baseboard and wall fan heat, propane stoves, and wood floors throughout. Smoke detectors are connected to Mahoney Alarms, and a paved rear parking area holds 4+ cars.

Apartment 1 is the 2-bedroom unit, with its own separate entrance, granite countertops and a washer/dryer hookup. Apartment 2 has radiant floor heat in the bathroom. Apartment 3 includes a washer and dryer. Apartment 4 is vacant and in the final stage of renovation. It has a washer and dryer and dimmable lighting, and a new kitchen countertop will be installed before closing, so it will be ready for a new tenant or an owner-occupant. The top-floor apartment offers views of Baker Mountain and a 3-season sun porch.

Lake Flower is about two blocks away, and downtown Saranac Lake’s restaurants and shops are less than half a mile away. This updated Saranac Lake quadriplex has income potential from day one.