79 Franklin Avenue, Saranac Lake, NY 12983 (MLS# 208647)

Description

Updated 4-unit multifamily investment property in Saranac Lake, NY, about three blocks from Lake Flower. This quadriplex offers one 2-bedroom, 1-bath apartment and three 1-bedroom, 1-bath apartments. It's a strong fit for an investor building a rental portfolio or for a buyer who wants to live in one unit and rent out the other three. Each apartment has its own 100-amp electrical service on a separate meter. Electrical has been updated throughout, and most plumbing has been updated to PEX. The building also offers a new roof (2021), fresh paint throughout, an electric heat pump water heater, electric baseboard and wall fan heat, propane stoves, and wood floors throughout. Smoke detectors are connected to Mahoney Alarms, and a paved rear parking area holds 4+ cars. Apartment 1 is the 2-bedroom unit, with its own separate entrance, granite countertops and a washer/dryer hookup. Apartment 3 includes a washer and dryer as well as radiant floor heat in the bathroom. Apartment 4 is vacant and in the final stage of renovation. It has a washer and dryer and dimmable lighting, and a new kitchen countertop will be installed before closing, so it will be ready for a new tenant or an owner-occupant. The top-floor apartment offers views of Baker Mountain and a 3-season sun porch. Lake Flower is about two blocks away, and downtown Saranac Lake's restaurants and shops are less than half a mile away. This updated Saranac Lake quadriplex has income potential from day one.

Contract Information

Short Term Rental Options: Unknown Current Price: $425,000 Original List Price: 425000 List Price: $425,000 Status: Active Listing Contract Date: 2026-10-22 Property Sub Type: Quadruplex Listing Agreement: Exclusive Right To Sell

Location, Tax, and Legal

Tax Annual Amount: 3504.45 Tax Assessed Value: 177400 Land Tax Annual Amount: 552.52 Deed Date: 2022-01-25

General Property Information

Stories Total: 3 Number of Units: 4 Building Area Total: 3442 Year Built: 1930 Open Parking YN: 1 Parking Total: 4 Sign On Property YN: 1

Status Change Information

Status Change Timestamp: 2026-10-22 Major Change Timestamp: 2026-10-23T01:45:34Z Major Change Type: New Listing

Appliances

Dryer: 1 Gas Range: 1 Microwave: 1 Refrigerator: 1 Washer: 1

Architectural Style

Colonial: 1

Basement

Unfinished: 1

Construction Materials

Wood Siding: 1

Deed Details

Instrument: Deed Page: 250 Volume: 2069

Documents Available

Lead Paint: 1 Property Condition: 1

Door Features

French Doors: 1

Electric

200+ Amp Service: 1 Circuit Breakers: 1

Financial Details

School Taxes: 1296.59 School Taxes Description: Actual Village Taxes: 1655.34 Village Taxes Description: Actual

Flooring

Wood: 1

Heating

Tank Location: Above Ground Baseboard: 1 Electric: 1 Radiant Floor: 1

Interior Features

Granite Counters: 1 High Speed Internet: 1

Levels

Three Or More: 1

Listing Terms

1031 Exchange: 1 Cash: 1 Conventional: 1

Lot Features

Few Trees: 1 Views: 1

Parking Features

Off Street: 1 Open: 1 Paved: 1

Patio And Porch Features

Covered: 1 Enclosed: 1 Front Porch: 1

Property Condition

Updated/Remodeled: 1

Road Frontage Type

Public: 1

Road Surface Type

Paved: 1

Roof

Asphalt: 1 Shingle: 1

Security Features

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

Sewer

Public Sewer: 1

Structure Type

Quadruplex: 1

Utilities

Cable Connected: 1 Electricity Connected: 1 Internet Connected: 1 Phone Available: 1 Sewer Connected: 1 Water Connected: 1

View

Mountain(s): 1 Neighborhood: 1

Water Source

Public: 1

Window Features

Storm Window(s): 1

Owner Pays

All Utilities: 1

Tenant Pays

None: 1

Unit One

Unit #: 1 Bathrooms Full: 1 Beds Total: 2 Range: 1 Refrigerator: 1

Unit Two

Unit #: 2 Bathrooms Full: 1 Beds Total: 1 Range: 1 Refrigerator: 1

Unit Three

Unit #: 3 Bathrooms Full: 1 Beds Total: 1 Range: 1 Refrigerator: 1

Unit Four

Unit #: 4 Bathrooms Full: 1 Beds Total: 1 Range: 1 Refrigerator: 1

Location Tax and Legal

Street Number: 79 Street Name: Franklin Street Suffix: Avenue County: Essex State: NY Postal Code: 12983 MLS Area Major: Saranac Lake, Raybrook School District: Saranac Lake Parcel Number: 32.198-1-6.000 Directions: From Town Hall Head northwest on Main St. Turn onto Helen St. Continue to Franklin Ave to arrive at 79 Franklin Ave, Saranac Lake, NY 12983. Look for the yellow door.

Income and Expenses

Electric Expense: 10374.96 Water Sewer Expense: 656

Meter Information

Number Of Separate Electric Meters: 5

Property Features

Appliances: Dryer; Gas Range; Microwave; Refrigerator; Washer Architectural Style: Colonial Basement: Unfinished Construction Materials: Wood Siding Documents Available: Lead Paint; Property Condition Door Features: French Doors Electric: 200+ Amp Service; Circuit Breakers Flooring: Wood Heating: Baseboard; Electric; Radiant Floor Interior Features: Granite Counters; High Speed Internet Levels: Three Or More Listing Terms: 1031 Exchange; Cash; Conventional Lot Features: Few Trees; Views Owner Pays: All Utilities Parking Features: Off Street; Open; Paved Patio And Porch Features: Covered; Enclosed; Front Porch Property Condition: Updated/Remodeled Road Frontage Type: Public Road Surface Type: Paved Roof: Asphalt; Shingle Security Features: Carbon Monoxide Detector(s); Fire Escape; Smoke Detector(s) Sewer: Public Sewer Structure Type: Quadruplex Tenant Pays: None Utilities: Cable Connected; Electricity Connected; Internet Connected; Phone Available; Sewer Connected; Water Connected View: Mountain(s); Neighborhood Water Source: Public Window Features: Storm Window(s) Unit One: Range; Refrigerator Unit Two: Range; Refrigerator Unit Three: Range; Refrigerator Unit Four: Range; Refrigerator