Downtown Lake Placid Dream
29 Station St Lake Placid, New York 12946
5 Bedrooms | 3 Bathrooms
2,700 Sq/Ft
5 Bedrooms | 3 Bathrooms
2,700 Sq/Ft
- Asking Price
- $435,000
- Financing Options
- Total Buyout
- People Needed To Purchase
- 20
- Potential return on investment (ROI)
- 10%
Property Description:
This property is known as the Chabbott Farmhouse: it is an old style farmhouse with three bedrooms and two baths, accompanied by a separate two-bedroom apartment. Currently, the apartment is occupied under a lease agreement, generating $1000 per month in rental income, which is secured until July 2024. The main house stands vacant and is readily available for viewing. The farmhouse is circa 1930 but it has had numerous upgrades including, new siding, a modern fuel tank, and a new boiler system. Both the main living space and the apartment have also had some interior renovations but portions will require upgrades.Property can be used as a hosted vacation rental with permit or leased long term. Owner is a licensed real estate broker.
Deal Description:
Ideally looking for around 12 people to split this deal. This is a two family in a popular ski resort town in upstate New York. Good chance the homes equity value will outpace the market due to its high cap rate.
Total Price: $435,000
$81,750 Raised out of $435,000
3
Unique
Contributors
$21,750
Minimum contribution
per person
20
People Required
For Purchase