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502 Forest Hill Avenue, Saranac Lake, NY 12983

$180,000
Property Type: Residential Income Square Footage: 2,763 Lot Size (sq. ft.): 7,405 Status: Closed
Current Price: $180,000 List Date: 2/05/2015 Last Modified: 6/16/2025

Description

This is a Turn-Key 4 unit apartment building in a very desirable location near Moody Pond. The building has been extensively renovated. Major upgrades include a new roof, new Pella windows, updated kitchens and bathrooms, refinished hardwood floors and new carpet, fresh paint throughout, totally updated electric system and spray foam insulation added in the basement and other crawl spaces. Tenants pay their own electric heat. Owner pays common area heat plus hot water for apts 3 & 4. Apts 1 & 2 have separate hot water heaters and expense is borne separately by tenants.

More Information MLS# 151814

Location, Tax, and Legal

Tax Annual Amount: 3453 Tax Assessed Value: 135500 Deed Date: 2013-10-15

Status Change Information

Status Change Timestamp: 2015-07-22 Buyer Financing: Cash Concessions Amount: 0 Major Change Timestamp: 2015-07-22T19:36:29Z Major Change Type: Status Change Under Contract Date: 2015-03-11 Close Date: 2015-07-22 Close Price: 180000

Appliances

Dryer: 1 Electric Oven: 1 Electric Range: 1 Electric Water Heater: 1 Gas Oven: 1 Refrigerator: 1 Washer: 1

Basement

Exterior Entry: 1 Full: 1 Unfinished: 1

Construction Materials

Cedar: 1 Wood Siding: 1

Cooling

None: 1

Deed Details

Instrument: Deed Page: 275 Volume: 1747

Documents Available

Deed: 1 Lead Paint: 1 Leases: 1 Property Condition: 1

Door Features

French Doors: 1

Electric

Net Meter: 1 Other: 1

Foundation Details

Block: 1

Heating

Baseboard: 1 Electric: 1 Hot Water: 1 Separate Meters: 1

Interior Features

Apartment: 1

Listing Terms

Cash: 1 Conventional: 1

Lot Features

Level: 1 Many Trees: 1

Parking Features

Driveway: 1 Gravel: 1 No Garage: 1

Road Frontage Type

Public: 1

Roof

Composition: 1

Security Features

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

Special Listing Conditions

Standard: 1

Structure Type

Side by Side: 1 Up & Down: 1

Utilities

Cable Available: 1 Internet Available: 1 Sewer Connected: 1 Water Connected: 1 Gas Meter Separate: 1 Separate Water Heater(s): 1 Water Meter Master: 1

View

Neighborhood: 1

Window Features

Insulated Windows: 1

Income and Expenses

Gross Income: 31620 Lawn Care/Snow Removal Expense: 0 Insurance Expense: 2174 Maintenance Expense: 2000 Net Operating Income: 18608 Other Expense: 2988 Trash Expense: 1000

Tenant Pays

All Utilities: 1

Unit One

Unit #: 1 Actual Rent: 700 Bathrooms Full: 1 Beds Total: 2 Leased: No Range: 1 Refrigerator: 1 Total SqFt: 0

Unit Two

Unit #: 2 Actual Rent: 560 Bathrooms Full: 1 Beds Total: 1 Dishwasher: 1 Leased: Yes Range: 1 Total SqFt: 0

Unit Three

Unit #: 3 Actual Rent: 675 Bathrooms Full: 1 Beds Total: 2 Leased: Yes Range: 1 Refrigerator: 1 Total SqFt: 0

Unit Four

Unit #: 4 Actual Rent: 700 Bathrooms Full: 1 Beds Total: 2 Range: 1 Refrigerator: 1 Total SqFt: 0

Unit Five

Leased: No Total SqFt: 0

Unit Six

Leased: No Total SqFt: 0

Unit Seven

Leased: No Total SqFt: 0

Unit Eight

Leased: No Total SqFt: 0

Contract Information

Current Price: $180,000 Original List Price: 209000 Sold Price: $180,000 Status: Closed Listing Contract Date: 2015-02-05 Listing Agreement: Exclusive Right To Sell

Location Tax and Legal

Street Number: 502 Street Name: Forest Hill Street Suffix: Avenue County: Essex State: NY Postal Code: 12983 Subdivision Name: None MLS Area Major: Saranac Lake, Raybrook Township: N Elba School District: Saranac Lake Parcel Number: 32.183-2-8.000 Zoning: Residential Directions: From Pine St (McKenzie Pond Rd) go over the bridge toward Moody Pond and Baker Mountain. Take the first right onto Forest Hill Av. House is the first one on the left after Moody Lane. Sign.

General Property Information

Number of Units: 8 Building Area Total: 2763 Year Built: 1940 Open Parking Spaces: 7 Lot Size Acres: 0.17 Water Body Name: None Sign On Property YN: 1

Unit Details

Number Of Units Leased: 3

Property Features

Appliances: Dryer; Electric Oven; Electric Range; Electric Water Heater; Gas Oven; Refrigerator; Washer Basement: Exterior Entry; Full; Unfinished Construction Materials: Cedar; Wood Siding Cooling: None Documents Available: Deed; Lead Paint; Leases; Property Condition Door Features: French Doors Electric: Net Meter; Other Foundation Details: Block Heating: Baseboard; Electric; Hot Water; Separate Meters Interior Features: Apartment Listing Terms: Cash; Conventional Lot Features: Level; Many Trees Parking Features: Driveway; Gravel; No Garage Road Frontage Type: Public Roof: Composition Security Features: Carbon Monoxide Detector(s); Smoke Detector(s) Special Listing Conditions: Standard Structure Type: Side by Side; Up & Down Tenant Pays: All Utilities Utilities: Cable Available; Internet Available; Sewer Connected; Water Connected; Gas Meter Separate; Separate Water Heater(s); Water Meter Master View: Neighborhood Window Features: Insulated Windows Unit One: Range; Refrigerator Unit Two: Dishwasher; Range Unit Three: Range; Refrigerator Unit Four: Range; Refrigerator
Listing Courtesy of Four Seasons Sotheby's International Realty
IDX
Information deemed reliable but not guaranteed.