Lakeview Apartments
Multifamily
Marketing description
CBRE Upstate NY is pleased to offer 2 Fall Street, known as the Lakeview Apartments, in Seneca Falls, New York. This is a unique opportunity to redevelop this property to take advantage of its underutilized waterfront potential. This property operated as a hospital from 1958 to 1978 and now houses 32 residential units. 2 Fall Street consists of roughly 34,000 square feet over three floors and features an updated elevator for tenants’ convenience.
The property offers significant upside potential, including the addition of 12-15 more residential units in the unfinished sections of the building. Dock slips can potentially be installed to allow a buyer to capitalize on the waterfront location. Investors will have the rare benefit of income from the current units while they reposition and redevelop the property for additional units.
Investment highlights
+34,462 Square Feet
+1.4 Acres
+Three (3) stories
+Significant upside potential, including the addition of 12-15 more residential units in the unfinished sections of the building
+Recent $96,000 CapEx investment into elevator
+Potential to develop waterfront
+Certificate of Occupancy is transferable and valid through December 31, 2026
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