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48 McKinley Street, Lake Placid, NY 12946

$740,000
Property Type: Residential Income Square Footage: 3,056 Lot Size (sq. ft.): 27,443 Status: Closed
Current Price: $740,000 List Date: 6/29/2025 Last Modified: 11/12/2025

Description

Well-maintained 4 unit multi-family/apartment building with 1 car garage with additional storage space, and 4 separate locked storage units in the back of the garage. All 4 apartments consist of 2 bedrooms, 1 full bath, clothes washer and clothes dryer, water heater, and separate electric meters. Additionally, each apartment comes furnished, each unit has a covered deck out the back via a sliding door from 1 of the 2 bedrooms, and there are 8 parking spaces to accommodate 2 cars per apartment. Common areas include perennial gardens, side fencing, large backyard with deck and a barbeque. A serene setting including a brook in the back. There is also a lovely public park directly across the street. The property is conveniently located walking distance to the Main Street shops and restaurants, or to visit the Olympic Center, the public beach on Mirror Lake and more! Great investment with 4 leases in place.

More Information MLS# 204269

Contract Information

Short Term Rental Options: Property is not available to host any STR Current Price: $740,000 Original List Price: 849000 Sold Price: $740,000 Status: Closed Listing Contract Date: 2025-04-13 Property Sub Type: Quadruplex Listing Agreement: Exclusive Right To Sell

Location, Tax, and Legal

Tax Annual Amount: 4252.86 Tax Assessed Value: 317000 Land Tax Annual Amount: 1181.8 Deed Date: 2019-08-30

General Property Information

Number Of Buildings: 1 Stories Total: 2 Fireplace YN: No Number of Units: 4 Building Area Total: 3056 Year Built: 2004 Garage YN: 1 Garage Spaces: 1 Open Parking YN: 1 Open Parking Spaces: 8 Lot Size Acres: 0.63 Sign On Property YN: 1

Status Change Information

Status Change Timestamp: 2025-10-10 Concessions: No Buyer Financing: Cash Major Change Timestamp: 2025-10-10T12:18:02Z Major Change Type: Status Change Price Change Timestamp: 2025-05-08T22:41:16Z Under Contract Date: 2025-08-08 Close Date: 2025-10-10 Close Price: 740000

Appliances

Dishwasher: 1 Dryer: 1 Electric Range: 1 Free-Standing Electric Oven: 1 Microwave: 1 Refrigerator: 1 Washer: 1

Basement

Crawl Space: 1 Dirt Floor: 1 Exterior Entry: 1 Unfinished: 1

Construction Materials

Aluminum Siding: 1 Asphalt: 1

Cooling

Ceiling Fan(s): 1

Deed Details

Instrument: deed Page: 10 Volume: 1962

Documents Available

Deed: 1 Property Condition: 1

Electric

200+ Amp Service: 1

Exterior Features

Balcony: 1 Barbecue: 1 Lighting: 1 Outdoor Grill: 1 Storage: 1

Fencing

Privacy: 1 Vinyl: 1

Financial Details

School Taxes: 1676.24 School Taxes Description: Actual Village Taxes: 1394.82 Village Taxes Description: Actual

Flooring

Carpet: 1 Laminate: 1 Tile: 1

Heating

Baseboard: 1 Electric: 1

Interior Features

Apartment: 1

Laundry Features

In Unit: 1

Levels

Two: 1

Listing Terms

1031 Exchange: 1 Cash: 1 Conventional: 1

Lot Features

Back Yard: 1 Cleared: 1 Few Trees: 1 Front Yard: 1 Garden: 1 Level: 1 Paved: 1 Views: 1

Other Structures

Garage(s): 1 Storage: 1

Parking Features

Asphalt: 1 Driveway: 1 Garage Faces Front: 1 Off Street: 1 Parking Lot: 1 Paved: 1

Patio And Porch Features

Covered: 1 Rear Porch: 1

Road Frontage Type

Public: 1

Road Surface Type

Paved: 1

Roof

Asphalt: 1 Shingle: 1

Security Features

Carbon Monoxide Detector(s): 1 Smoke Detector(s): 1

Sewer

Public Sewer: 1

Structure Type

Multi Family: 1

Utilities

Cable Connected: 1 Electricity Connected: 1 Internet Connected: 1 Sewer Connected: 1 Water Connected: 1 Separate Water Heater(s): 1

View

Mountain(s): 1 Neighborhood: 1

Water Source

Public: 1

Owner Pays

Electricity: 1 Sewer: 1 Snow Removal: 1 Water: 1

Tenant Pays

Cable TV: 1

Unit One

Unit #: 1 Actual Rent: 1500 Bathrooms Full: 1 Beds Total: 2 Dishwasher: 1 Leased: Yes Range: 1 Refrigerator: 1 Total SqFt: 764

Unit Two

Unit #: 2 Actual Rent: 1300 Bathrooms Full: 1 Beds Total: 2 Dishwasher: 1 Leased: Yes Range: 1 Refrigerator: 1 Total SqFt: 764

Unit Three

Unit #: 3 Actual Rent: 1300 Bathrooms Full: 1 Beds Total: 2 Dishwasher: 1 Leased: Yes Range: 1 Refrigerator: 1 Total SqFt: 764

Unit Four

Unit #: 4 Actual Rent: 1300 Bathrooms Full: 1 Beds Total: 2 Leased: Yes Refrigerator: 1 Total SqFt: 764

Showing Requirements

24 Hour Notice: 1 Appointment Only: 1 Call Listing Agent: 1

Location Tax and Legal

Street Number: 48 Street Name: McKinley Street Suffix: Street County: Essex State: NY Postal Code: 12946 MLS Area Major: Lake Placid Township: N Elba School District: Lake Placid Parcel Number: 42.222-2-3.100 Zoning: Residential Directions: Take a right onto McKinley off of Main Street at the light by Mr. Mike's. Go ~3 blocks, apartment complex on the left.

Meter Information

Number Of Separate Electric Meters: 5

Unit Details

Number Of Units Leased: 4

Property Features

Appliances: Dishwasher; Dryer; Electric Range; Free-Standing Electric Oven; Microwave; Refrigerator; Washer Basement: Crawl Space; Dirt Floor; Exterior Entry; Unfinished Construction Materials: Aluminum Siding; Asphalt Cooling: Ceiling Fan(s) Documents Available: Deed; Property Condition Electric: 200+ Amp Service Exterior Features: Balcony; Barbecue; Lighting; Outdoor Grill; Storage Fencing: Privacy; Vinyl Flooring: Carpet; Laminate; Tile Heating: Baseboard; Electric Interior Features: Apartment Laundry Features: In Unit Levels: Two Listing Terms: 1031 Exchange; Cash; Conventional Lot Features: Back Yard; Cleared; Few Trees; Front Yard; Garden; Level; Paved; Views Other Structures: Garage(s); Storage Owner Pays: Electricity; Sewer; Snow Removal; Water Parking Features: Asphalt; Driveway; Garage Faces Front; Off Street; Parking Lot; Paved Patio And Porch Features: Covered; Rear Porch Road Frontage Type: Public Road Surface Type: Paved Roof: Asphalt; Shingle Security Features: Carbon Monoxide Detector(s); Smoke Detector(s) Sewer: Public Sewer Structure Type: Multi Family Tenant Pays: Cable TV Utilities: Cable Connected; Electricity Connected; Internet Connected; Sewer Connected; Water Connected; Separate Water Heater(s) View: Mountain(s); Neighborhood Water Source: Public Unit One: Dishwasher; Range; Refrigerator Unit Two: Dishwasher; Range; Refrigerator Unit Three: Dishwasher; Range; Refrigerator Unit Four: Refrigerator Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent
Listing Courtesy of Adirondack Premier Properties Berkshire Hathaway HomeService
IDX
Information deemed reliable but not guaranteed.