1189 State Route 52, Loch Sheldrake, NY

Name: 1189 State Route 52, For Sale in Loch Sheldrake - Zoocasa
Brand: eXp Realty
SKU: 982120
Price: 1100000 USD

House

For Sale

Listed price in listed location currency (USD).

$1,100,000

002

MLS® 982120

Overview

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage

Taxes $18,763

Days Active 3

Lot Size

Approx. Age 1940

MLS® Number 982120

Property Address: 1189 State Route 52, Loch Sheldrake, NY, 12759-5709

Average square foot calculated using Size range provided by listing agent.

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.

MLS® Number982120

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1940

Basement

DrivewayAttached

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Apr 13, 2026List Date

$1,100,000List Price

Map

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