403 Walnut Street

About this home

Turnkey 3-Unit Investment Property with Strong Updates, Parking, Garage & Expansion Potential Excellent opportunity to own a well-maintained and substantially updated 3-unit multifamily property in Elmira, NY. This income-producing asset offers strong rental history, major capital improvements, and additional upside potential with ample parking, garage space, and room for future development. The property currently generates $2,850/month in rental income with no delinquency issues, providing immediate cash flow for an investor or owner-operator. Major improvements include: • New roof installed July 2024 • Most windows replaced • All work fully permitted • Significant electrical and plumbing upgrades • Two apartments completely renovated down to the studs One of the standout features is a massive nearly 1,000 square foot efficiency apartment converted from a former yoga studio, offering an open-concept layout with unique character and flexibility. Additional highlights include: • Large parking lot with abundant off-street parking • Detached garage • Coin-operated laundry room for additional income • Two units with separated utilities • Space and potential for future expansion or additional development • Strong tenant payment history This property combines stability, modernized systems, and future upside — ideal for investors looking for a solid multifamily asset with value-add potential already built into the site. Whether you are expanding your portfolio or looking for a property with long-term appreciation potential, 403 Walnut Street offers a compelling mix of cash flow, updates, and opportunity.

Interior features

• Other
• See Remarks

Appliances

• Gas Water Heater

Mechanical

Schools

Tax & finance

Location

Elmira, NY 14901 · Chemung County

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