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1189 State Route 52
Fallsburg NY 12759 US

$1,100,000

Active Listing ID 982120
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$1,100,000

Active Listing ID 982120
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1189 State Route 52 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.

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Property Features

  • Facts
  • Property Type: Residential Multi Family
  • Property Sub-type: Other
  • Features
  • Heating Fuels: Baseboard

School Information

  • School
  • Benjamin Cosor Elementary School(Elementary)
  • Fallsburg Junior-Senior High School(MiddleSchool)
  • Fallsburg Junior-Senior High School(HighSchool)

Property

  • propertytype: Residential Multi Family
  • propertysubtype: Other
  • listprice: 1100000
  • unparsedaddress: 1189 State Route 52
  • postalcity: Fallsburg
  • stateorprovince: NY
  • country: US
  • postalcode: 12759
  • bathroomsfull: 0
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeunits: Acres
  • livingarea: 0
  • livingareaunits: Square Feet
  • listagentfullname: Marie Mascari
  • listagentemail: mmascari@stevensre.com
  • listagentkey: 3yd-MLSLINY-63581
  • listagentmlsid: 63581
  • listagentpreferredphone: 8453823989
  • listagentofficephone: 8453823989
  • listofficekey: 3yd-MLSLINY-EXPRLT05
  • listofficemlsid: EXPRLT05
  • disclaimer: Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: MLSLINY
  • yearbuilt: 1940
  • listingcontractdate: 2026-04-07
  • countyorparish: Sullivan County
  • parcelnumber: 482889: 17.-1-36
  • elementaryschool: Benjamin Cosor Elementary School
  • highschool: Fallsburg Junior-Senior High School
  • elementaryschooldistrict: Fallsburg
  • middleorjuniorschooldistrict: Fallsburg
  • highschooldistrict: Fallsburg
  • constructionmaterials: Frame
  • heating: Baseboard
  • numberofunitstotal: 8
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 2
  • view: Lake
  • waterfrontyn: False
  • franchiseaffiliation: None
  • utilities: Electricity Available
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: True
  • internetconsumercommentyn: True
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"eXp Realty", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "CustomSourceId":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"mmascari@stevensre.com", "ListBrokerageCity":"Hauppauge", "ListBrokerageCountry":"US", "ListBrokerageEmail":"Listhub@exprealty.com", "ListBrokerageLogoUrl":"http://brokerlogos.listhub.net/MLSLINY/5461cde1901c11e89b590242ac110005/20200212035238600.png", "ListBrokerageName":"eXp Realty", "ListBrokeragePhone":"(888) 276-0630", "ListBrokeragePostalCode":"11788", "ListBrokerageStateOrProvince":null, "ListBrokerageUnitNumber":"Suite 401", "ListBrokerageUnparsedAddress":"150 Motor Parkway", "ListBrokerageWebsiteUrl":null, "ListOfficeAddress1":"171 Main Street ", "ListOfficeAddress2":"Suite 401", "ListOfficeBrokerMlsId":"EXPRLT05", "ListOfficeCity":"New Paltz", "ListOfficeCountry":"US", "ListOfficeEmail":"ny.broker@exprealty.net", "ListOfficePostalCode":"12561", "ListOfficeStateOrProvince":"NY", "ListPriceCurrencyType":"USD", "ListingTitle":"MULTI_FAMILY - Fallsburg, NY", "ListingURL":null, "MLSModificationTimestamp":"2026-04-14 07:12:43", "Neighborhoods":[], "PostalCode":null, "RoomCount":null, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":18763, "TaxDescription":null, "TaxYear":"2025"}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 4/15/2026 4:46:15 PM GMT
Source Updated Date: 4/27/2026 6:49:05 AM GMT

Courtesy of: Marie Mascari, eXp Realty, mmascari@stevensre.com

Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.