29613 State Route 12

About this home

Fantastic investment opportunity at highly visible Gunns Corners! This 8-unit apartment building sits prominently at the intersection of NYS Route 12 and NYS Route 180, offering excellent visibility, strong rental appeal, and easy accessibility. Set on a generous 1.50-acre lot, the property features 4,867 square feet of living space with convenient one-story layouts throughout. The unit mix includes five 1-bedroom apartments, two studio units, and one spacious 3-bedroom apartment—providing a well-balanced and versatile rental portfolio. The remodeled 1-bedroom unit is currently vacant and ready for immediate occupancy, with projected rental income of $800–$900/month. This unit has been thoughtfully updated with new flooring, modern countertops, and brand-new kitchen appliances, making it highly attractive to prospective tenants. The property currently generates $5,370/month in rental income from existing tenants, delivering solid in-place cash flow with clear upside potential upon leasing the vacant unit. The actual Net Operating Income (NOI) for 2025 exceeded $51,000, highlighting the property’s strong financial performance. A stable, long-term tenant base enhances reliability, while the large open parking area provides ample off-street parking for residents and guests. With strong financials and value-add potential, this property is an excellent addition to any investment portfolio. Whether you're expanding your holdings or entering the multi-family market, this asset offers both performance and growth opportunity. Schedule your private showing today!

Exterior features

• Propane Tank Leased

Mechanical

Schools

Tax & finance

Location

Clayton, NY 13624 · Jefferson County

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